LTC, AVAX, APT and FTM set to rally as Bitcoin price targets $24,000


bitcoin (BTC) has risen nearly 40% so far in January, which is the best start to the year since 2013. The sudden upward movement turned several signals into a rising chainaccording to on-chain analyst Cole Garner.

Usually, a strong rally from market lows, led by the leader, is a sign that strong hands can buy aggressively. This could be because traders think the short-term may have been oversold or they found the valuation attractive.

Daily view of crypto market data. Source: Coin360

After the initial build-up, one can expect a quick correction, which will shake weak hands. Next fall will also confirm whether Bitcoin has formed a bottom or not. If the bottom is confirmed, several altcoins could start to outperform Bitcoin in the short term.

Which altcoins are promising in the short term? Let’s study Bitcoin’s charts and select altcoins to see which ones could extend their surge in the coming days.


Bitcoin has been trading above $22,800 since Jan. 25, suggesting bulls are trying to turn the level into support.

BTC/USDT daily chart. Source: Trading View

The 20-day rising exponential moving average ($21,558) indicates that the bulls are in charge, but the relative strength index (RSI) in the overbought territory suggests that the rally could be prolonged in the near term.

If the buyers drive the price above $23,816, the BTC/USDT pair could begin its march north towards $25,211. This level can act as a formidable resistance.

On the downside, the 20-day EMA is an important level for bulls to defend because if it cracks, the pair may fall to psychological support at $20,000.

BTC/USDT 4 hour chart. Source: Trading View

The RSI on the 4-hour chart is forming a negative divergence indicating that the buyers may be losing their grip. If the bulls want to assert their dominance, they will need to push the price above the resistance at $23,816. This could start the next stage of the upward movement.

Conversely, if the price turns down from overhead resistance, the bears will try to pull the pair below the moving averages. There is minor support at $22,715 but if that level breaks down, the pair could retest $21,480.


Litecoin (SLD) has been in a strong uptrend for several days. After a brief consolidation, the buyers propelled the price above the $92 overhead resistance, indicating that the upside remains intact.

LTC/USDT daily chart. Source: Trading View

The LTC/USDT pair might rally to the psychological $100 level where the bears might once again attempt to erect a roadblock. If the bulls don’t give much ground from this level, the pair could extend its journey to $107. The upward sloping 20-day EMA ($86) and the RSI near the overbought territory indicate an advantage for the buyers.

This positive view could be invalidated if the price turns down and slides below the 20-day EMA. The pair could then fall to $81 and later to $75.

LTC/USDT 4 hour chart. Source: Trading View

The breakout and close above the $92 level suggests that the consolidation has resolved in favor of the buyers. If the bulls hold the price above $92, the pair could rise towards the $98 pattern target.

The bears probably have other plans. They will try to drag the price below the $92 breakout level and trap the aggressive bulls. If they succeed, the pair could fall to $86. This is an important level for the bulls to defend, as a break below could shift the advantage in favor of the bears.


Avalanche (AVAX) surged above the resistance line on January 27 and hit the air barrier at $22 on January 28.

AVAX/USDT daily chart. Source: Trading View

The bears are trying to block the rally to $22 but the bulls don’t seem to be in a rush to take profits. This increases the likelihood of a break above the overhead obstacle. If that happens, the AVAX/USDT pair could accelerate towards $30. There is minor resistance at $24 but it is likely to scale.

Another possibility is that the price goes down and retests the resistance line. If the price rebounds from this level, it will suggest that the bulls have turned it into support. This could improve the outlook for a break above $22. The bears can gain the upper hand if the price dips below the 20-day EMA ($17).

AVAX/USDT 4 hour chart. Source: Trading View

The 4-hour chart shows that the pair has pulled back near the 20-EMA. If the price jumps from the current level, the bulls will again attempt to push the pair above the air barrier at $22. If this level is scaled, the pair could rally back to $24.

The first sign of weakness will be a breakout and a close below the 20-EMA. This could present an opportunity for the bears to make a comeback. The sellers could take over if they pull and hold the pair below the resistance line.

Related: South Korea to roll out cryptocurrency tracking system in 2023


Aptos (APT) has had a dream run the past few days. Usually, when an asset gains momentum, it continues to move in the same direction for some time.

APT/USDT daily chart. Source: Trading View

The APT/USDT pair fell from $20.40 on January 26, but the bulls are trying to stop the pullback at $16.62. The shallow correction shows that every minor dip is bought by the bulls. The buyers will try to drive the price above $20.40 and start the next leg of the uptrend. The pair could then climb to $24.

The risk of this assumption is that the RSI has been in overbought territory for the past few days. This increases the risk of a short-term correction. If the price declines and falls below $16.60, the pair could slide to $14.57 and then to the 20-day EMA ($12.23).

APT/USDT 4 hour chart. Source: Trading View

The 4-hour chart shows a negative divergence forming on the RSI. If the price breaks below the 20-EMA, the pair could test the 50-SMA. This is an important support to watch because if it breaks the pair could fall to $12.

On the contrary, if the price rises and breaks above $20.40, it will indicate that the bulls have reasserted their supremacy. This could invalidate the negative divergence developing on the RSI and resume the uptrend.


Ghost (MTF) has had a blistering run since breaking above the downtrend line. The strong rally in recent days suggests aggressive buying by the bulls.

FTM/USDT daily chart. Source: Trading View

The indicators signal that the bulls are firmly in control. During strong rallies, corrections are short-lived as the bulls buy on every minor dip. The bears attempt to block the bullish move near the psychological resistance at $0.50, but if the bulls break through this level, the FTM/USDT pair could rise to $0.56 and then to $0.63.

Sometimes vertical rallies are followed by steep declines. Therefore, traders should be cautious as a breakout and close below $0.43 could drop the pair to the 20-day EMA ($0.37). This is the key level to watch on the downside, as a break below could signal that the uptrend may have ended in the near term.

FTM/USDT 4 hour chart. Source: Trading View

The pair rejected overhead resistance at $0.50 but found support at the 20-EMA. This indicates that sentiment remains positive and traders are buying the dips. The bulls will again attempt to clear the overhead hurdle at $0.50 and resume the upward move.

The bears may have other plans as they will try to pull the price below the 20-EMA. This is an important level to watch in the short term, as a break below could open the doors for a possible decline in the 50-SMA. If this level also cracks, the next stop could be $0.36.