ARB on the Verge of Breakout, LINK Forms Textbook Falling Wedge, ETH Poised for $5,000 Surge

With Bitcoin bouncing off the low $90,000’s and back at almost $100,000, many traders will be looking to rotate their profits into large-cap, strong altcoins.

With that in mind, today we will be taking a look at three major altcoins that are generating plenty of buzz in the cryptosphere, and for which some analysts are saying are primed for explosive growth in the short term.

Those three are Arbitrum ($ARB), Chainlink ($LINK), and Ethereum ($ETH).

Arbitrum: Layer 2 Solution with Big Potential

First up is Arbitrum, a Layer 2 scaling solution for Ethereum, designed to enhance transaction speed and reduce costs while maintaining security through the Ethereum mainnet.

At press time, it was valued at $0.75, down from $0.8 at opening. However, analysts are expecting the coin to trade at around $1.5 in the short-term, which is a 100% growth.

Javon Marks, an analyst with a 50k-strong following, argues that ARB is set for explosive growth of 171%, hitting $2.11 per coin.

Rose told its 70k followers ARB rebounded from the key Fibonacci support zone, which should propel the token to at least $1.51, and possibly even $2.71.

Finally, Big Mike’s analysis shows ARB crossing the $3 line soon, before correcting, and proceeding to double digits.

Chainlink’s LINK Forms Textbook Falling Wedge

The internet’s sweetheart Chainlink is currently forming a textbook falling wedge, Crypto Rand argues.

A falling wedge is a bullish chart pattern in cryptocurrency trading that occurs when the price moves within converging downward-sloping trendlines. It indicates that once the resistance is broken, a breakout to the upside is possible.

Should LINK indeed break the resistance these days (which will happen if we get confirmation in the $20-$23 zone, the analyst expects it to teleport to the $40 range, a 70$ increase.

Ethereum: Still Waiting for its Breakout Moment

Finally, we have Ethereum, the second-largest cryptocurrency by market cap, and still a major home for many Layer 2 projects. Unlike Bitcoin, Ethereum has not yet reached a new all-time high for this bull run, which is why many traders and analysts are keeping the chart front and center.

Tradinglord, for example, properly observed that ETH hit its $4K resistance three times since April, suggesting that the token is gearing up for an explosive move to $5K.

“While the president buys ETH DeFi, ETH ETF inflows pickup, ETH shorts ATH, ETH/BTC in the process of bottoming,” he says. “5K ETH BY MID JAN.”

Other traders, such as Cold Blooded Shiller, and Crypto Tony, all agree with this sentiment.

Trump’s inauguration is just around the corner, and the crypto industry is waiting in anticipation. The market is expecting Bitcoin to continue its upward trajectory, to cross the $110,000 line and beyond, and with it, to pull the entire industry. After all, a rising tide lifts all boats.