Bitcoin price will crack $30k, possibly clearing the way for SOL, LINK, AAVE and STX.

Bitcoin (BTC) has had a good week with a 10% increase in price to reach the psychologically important level of $30,000. After the rally, the question looming over investors is whether the ups and downs will continue or is it time for a turnaround.

Trading group Stockmoney Lizards recently said that Bitcoin could soon break above resistance and start a sharp rally. They believe the approval of the exchange-traded fund will encourage mass adoption and spark a rally before it tapers off in April 2024.

A positive development this week is that Bitcoin's strength has dropped to several altcoins that have risen above their respective overhead resistance levels. This indicates that the sentiment is slowly turning positive and it may be time to choose to buy.

Coins that typically lead the markets up tend to do well. Laggars are generally the last ones, so they can be avoided at the beginning.

Let's take a look at the charts of the top-5 cryptocurrencies that are likely to outperform in the near future.

Bitcoin price analysis

Bitcoin is seeing a fierce battle between bulls and bears near $30,000, but a positive sign is that buyers have not given much space.

The consolidation bulls at the current level are not in a hurry to book profits as they expect another leg up. That could push the price into the upper resistance zone between $31,000 and $32,400.

On the contrary, if the price drops from $31,000, the BTC/USD pair can go down to the 20-day moving average ($28,160). If the price recovers from this level, the bulls will again try to clear the barrier above.

The positive sentiment will be rejected on a break below the 20-day EMA. That could keep the pair in the $31,000 to $24,800 range for a while.

As seen on the 4-hour chart, the pair is at a higher level. Typically, on the way out, traders buy into the 20-EMA dip. If that happens, it shows that the mood will continue to be fierce and that every little dip is being bought. The pair may continue its journey to $32,400.

Conversely, if the price is below the 20-EMA, it indicates that the traders may close their positions in a hurry. That could open the door to a further decline to the important support at $28,143.

Solana price analysis

Solana (SOL) broke out of the neckline on October 19, completing a bullish reversal head and shoulders pattern. This setup target is $32.81.

The overbought levels on the Relative Strength Index (RSI) suggest a possible correction. Important support to watch on the downside is $27.12. A strong breakout at this level indicates that the bulls have reversed the level to support. This improves prospects for continued growth. Above $32.81, the rally could reach $39.

Time is running out for the bears. If they want to stop the move, they need to pull the price below $27.12. The SOL/USDT pair may go down to the neckline. This is a key level to watch as a break above $27.12 suggests a possible false breakout.

The 4-hour chart shows that the bulls are facing strong resistance near $30. This may initiate a pullback which may reach the $27.12 breakout level. Buyers are expected to defend this level effectively. A strong breakout at this level may signal a resumption of an upward move.

Conversely, if the price declines and breaks below $27.12, it indicates that the bears are oversold. The pair may dive into the neckline near $24.50. This level may once again testify to bulls' strong buying.

Chainlink price analysis

Chainlink (LINK) has been trading in a tight range between $5.50 and $9.50 since May 2022, reflecting the balance between supply and demand.

The Bulls tried to settle the uncertainty on Oct. 22 with the break above the region, but the long wick on the candlestick shows that the Bears are not willing to relent. If the bulls do not give much space from the current levels, it will raise the hope of support above $9.50.

The LINK/USDT pair may start moving towards the $13.50 pattern target. Typically, a breakout from a long rally results in a sharp rally. In this case, the advance could extend to $15 and then to $18.

The first support on the downside is at $8.50. If the bears lower the price below this level, it suggests that the range-bound action may continue longer.

The pair saw a sharp rally from $7.50, which pushed the RSI into overbought territory on the 4-hour chart. This suggests that the rally is overextended in the near term and may result in a pullback or consolidation.

Strong support on the side is $8.75 and then $8.50. A strong rise in this zone suggests that the sentiment remains positive and traders buy on the dips. That adds up to a $9.75 retry opportunity.

Conversely, a break below the 20-EMA indicates that the bears are back in the game. A pair can cost around $7.

Related: Lightning Network Faces Criticism From Pro-XRP Advocate John Deaton

Aave price analysis

Aave (AAVE) rose above the low line on October 21, breaking a bearish descending triangle pattern. Generally, the failure of negative composition initiates bullish activity.

Both moving averages are starting to move higher and RSI is in overbought territory, indicating that bulls are in advantage. If the price stays above the lower line, the AAVE/USDT pair may rise first to $88 and then to $95.

Bears need to quickly pull the price below the lower line if they want to prevent this move up. That could get a few bullish bulls off on the wrong foot and start a correction to the moving averages. A slide below the 50-day simple moving average ($62) puts the bears in the driver's seat.

The 4-hour chart shows that although the bears tried to stop the rally at the low line, the bulls did not give much hope. The momentum has picked up and the pair is on its way up to $88.

Of little concern in the short-term is the RSI's entry into overbought territory, indicating that consolidation or correction is possible. On the way down, the first support is at $72. The bears need to drop below the lower line to trap the bulls.

Stack price analysis

Stack (STX) has increased significantly in the past few days, which indicates that the bulls are trying to start a new uptrend.

A bullish crossover on the moving averages suggests that the bulls have the edge. In the short term, overbought levels on the RSI indicate the possibility of a minor correction or consolidation. The first support on the downside is the 20-day EMA ($0.54).

If the price recovers from this level, it will indicate a change in mindset from selling on rallies to buying on dips. That increases the likelihood that the movement will continue. The STX/USDT pair may rise first to $0.80 and then to $0.90.

If the price declines and falls below the 20-day EMA, this bullish outlook is worthless in the near term.

As seen on the 4-hour chart, the price is consolidating in a tight range between $0.61 and $0.65. This is a positive sign because it shows that the bulls are not rushing to the exit because they think they are another leg up. If buyers drive the price above $0.65, the pair will attempt a rally to $0.68 and then to $0.75.

Contrary to this assumption, if the price declines and falls below the 20-EMA, it indicates profit booking by short-term traders. The pair may fall 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.