A fall in the price of Bitcoin could trigger a buying spread in BNB, AVAX, NEAR and OKB.

Bitcoin (BTC) bounced back below $96,000 on November 24, suggesting that short-term traders are taking profits around $100,000. Corrections are part and parcel of every bull phase, where novice traders dread it, but experienced traders see a dip as a buying opportunity.

The prediction markets They are spending more than $100,000 by 2024. According to data from betting platform Kalshi, there is an 81% chance that Bitcoin will be at or above $100,000 on December 31st. The median prediction is that Bitcoin will reach $122,000 in the new year.

Another bullish voice is Georgy Verbitsky, the founder of the TYMIO decentralized financial platform, who told Cointelegraph that Bitcoin could rally between $100,000 and $120,000 by the end of 2024 or the beginning of 2025. Verbitskii expects Bitcoin to expand as more traders join the party. It will rise to $180,000 by the end of 2025.

What are the critical support levels that can attract buyers in Bitcoin and altcoins? Let's take a look at the top 5 cryptocurrencies that look strong on the charts.

Bitcoin price analysis

Bitcoin is facing resistance near the psychological critical level of $100,000, but a positive sign is that the bulls have not given much ground to the bears.

Rising moving averages and the Relative Strength Index (RSI) in the overbought zone indicate that lower resistance is on the way up. If buyers push the price above $100,000, the BTC/USDT pair can move up and down to $113,331 and then to $125,000.

The first support on the downside is at the uptrend line and then at the 20-day EMA ($88,386). If the price recovers from the 20-day EMA, the bulls will try to resume the rally. A short-term high will be marked when the pair breaks below $85,000.

The pair dipped below the 20-EMA on the 4-hour chart, indicating that the bears are trying to make a comeback. The next support at the bottom is the height line. If the price recovers from the high line, the bulls will again try to push the pair above $100,000. If they do that, the pair could rise to $113,331.

Alternatively, a break below the high line indicates a lack of interest at lower levels. The pair may drop to $85,000.

BNB price analysis

BNB (BNB) rallied above the $667 resistance on November 23 and again on November 24, but the long wick on the candlestick indicates oversold.

The 20-day EMA ($619) is an important support to watch out for on the downside. If the price breaks above the 20-day EMA, the bulls will again try to push the BNB/USDT pair towards $722. This level could again act as a major barrier, but if crossed, the rally could reach $810.

If the bears want to prevent the upside, they need to quickly move the price below the moving averages. If they do, it shows that the markets have rejected its creation. The pair may fall to the top line.

The bulls bought the dip to $635 and pushed the price above the 20-EMA. Buyers will try to push the price to $688, which is again expected as strong resistance. However, if buyers break this barrier, the pair could rally to $722.

Conversely, if the price declines and breaks below $635, it suggests that the bears will sell at each support meeting. The pair may go down to the 50-SMA and then to $600.

Price analysis

Avalanche (AVAX) broke above the resistance line of the November 22 channel pattern, but the bulls are facing a selloff at higher levels.

The AVAX/USDT pair can retest the breakout level of the channel. If the price pulls back strongly from the resistance line, it will indicate that the bulls have reversed the level to support. The pair may try to raise to $50.

Alternatively, if the price breaks below the resistance line, it indicates that the bulls are losing their grip. The pair may drop down to the 20-day EMA ($34.34), which will again attract buyers.

The pair is seeing a fierce battle between bulls and bears near the 20-EMA. If the price is above the 20-EMA, the bulls will again try to push the pair to the psychological level of $50.

Meanwhile, the bears may have other plans. They try to sell the rallies and pull the pair below the 50-SMA. If they succeed, the pair could drop to $32 and then to $31.

Related: Bitcoin ‘spoofing' drives BTC price to $97K in record gains

Near protocol value analysis

The close protocol (Near) pierced the $6.50 resistance on November 24, but the bulls could not sustain the breakout.

The price may go down to the 20-day EMA ($5.48), which is an important support that deserves attention. If the price rebounds strongly from the 20-day EMA, the bulls will try to move the NEAR/USDT pair to $8.58 and then to $9.01.

On the upside, a break and close below the 20-day EMA suggests that a breakout above $6.50 could be a bull trap. The pair is likely to dip towards the 50-day SMA ($4.86), extending its stay in the larger $3.42 to $6.50 range for some time.

The price rebounded from the moving averages on the 4-hour chart, as the bulls continued to buy the dips. If the price rises above $6.50, the bulls will try to clear the upper barrier at $6.80 and start the next hike.

Conversely, if the price drops below $6.50 or $6.80, it indicates selling in a rally. This includes a break below the moving averages. The pair may topline and drop to $5 after that.

OKB price analysis

OKB (OKB) has been testing trend reversals by creating a series of high highs and high lows.

The OKB/USDT pair accelerated after breaking above $48 on November 23, calling for a possible rally to $62 and then to $68.

The $48 level is expected to act as support during the pullback. If the price recovers from the $48 level, it shows that the sentiment remains positive, and traders will buy dips.

However, if the $48 support is breached, the pair may fall to the 20-day EMA ($44.79). The deeper the decline, the longer it will take for the upward movement to resume.

The bears are trying to stop the rally at $56.74, but the bulls are in no mood to surrender. The pair may find support at $51 and then the 20-EMA. If the price is above the current level or the 20-EMA, it indicates buying on dips. That improves prospects for a rally above $56.74.

If the price dips below the 20-EMA, this optimism will be canceled in the near term. The pair may descend towards the 50-SMA.

This article does not contain investment advice or recommendations. Every investment and business activity involves risk, and readers should do their own research when making a decision.