Bitcoin’s move to $80,000 could trigger a rally in ETH, SOL, SUI and AAVE.

Bitcoin (BTC) has been on a roll this week, rising above $80,000 on November 10. Analysts believe that the rally is just beginning and Bitcoin has a long way to go. “No need to rush, HODLing will work for you,” Bitcoin analyst Tur Demeister wrote in a post on X.

Newbie traders may be thinking that Bitcoin's rally has made it overvalued, but “Bitcoin is different,” says Hunter Horsley, CEO of Bitwise Invest, in a post on X.

“When the price of Bitcoin goes up, people see it as more likely to succeed, and therefore it becomes more valuable. And so it can go even higher,” Horsley explained.

The rally is not limited to Bitcoin. Many altcoins are starting to break above their respective resistance levels, indicating improving sentiment.

However, the well-known analyst WhalePanda warned that at the end of the week the low amount of money will move almost always completely “re-watch.”

Will Bitcoin Expect Higher Levels With Altcoins Rising? Let's study the charts of the top 5 cryptocurrencies to find out.

Bitcoin price analysis

The Bitcoin bulls are not giving any ground to the bears, which resulted in another round of short covering on November 10th. This pushed the price over $80,000.

The target is $93,554 for a range of $54,000 to $73,777. This level can be used as a resistance, but buyers try to extend the development to the psychologically important level of $100,000.

Time is running out for the bears. If they want to pull back, they need to pull the price below the 20-day moving average ($71,753). That could trigger a long run, pulling the BTC/USDT pair to its 50-day simple moving average ($66,864).

The 4-hour chart shows that the bulls have bought into the 20-EMA dip, which remains a key short-term level to maintain. If the bulls do not allow the price to slip below the 20-EMA, the pair could rise to $93,554.

Conversely, if the price declines and breaks below the 20-EMA, it indicates that the momentum of the bull is weakening. The pair could drop to the $75,500 and then the $73,777 breakout level.

Ether price analysis

Ether (ETH) rallied sharply after breaking the support line of the symmetric triangle pattern on November 6.

A break above $2,850 opens the door for a rally to the downtrend line. Sellers are expected to defend the lower line with all their might, as a break above it could take the price to $4,094.

Crucial support to watch on the downside is $2,850. If the price rebounds with the strength of $2,850, it shows that the sentiment is positive, and traders will buy dips. However, a break below $2,850 would tilt the advantage to the bears.

The sharp rally has pushed the RSI into overbought territory on the 4-hour chart, raising the possibility of a near-term rebound. The 20-EMA is the first support to watch out for. If the price recovers strongly from the 20-EMA, the bulls will try to drive the ETH/USDT pair towards $3,500.

On the other hand, if the price is below the 20-EMA, it indicates that traders will rush to the exit. That could bring the price down to the $2,850 mark.

Solana token price analysis

Solana (SOL) broke the resistance above $210 on November 10, indicating that the bulls are trying to assert their dominance.

If the price closes above $210, it indicates the beginning of the next uptrend. The SOL/USDT pair may rise to $260, the sellers are expected to have a strong resistance.

Conversely, if the price fails to close above $210, it indicates that the markets have rejected the formation. The pair could fall to $189, which is important recent support to watch in the near term. A slide below $189 could sink the pair to the 20-day EMA ($178).

The pair rebounded from the 20-EMA, indicating that the bulls are buying on minor dips. The bulls pushed the price above the $210 resistance and cleared a possible rally to $230 and eventually $260.

If the price declines and breaks below the 20-EMA, this bullish outlook is worthless in the near term. Then the pair can slide to the 50-SMA, which can delay the start of the next leg of the uptrend.

RELATED: Bitcoin Price Hits $80K For First Time – New ‘Inflation Adjusted' All-Time High

Sui price analysis

It was accelerated by Sui (SUI) buying after the price broke above strong resistance at $2.37 on November 9.

The bulls pushed the price above $3, but the long wick on the candlestick indicates oversold. If the price falls below $2.70, the bears will try to start a pullback towards the $2.37 breakout level.

Contrary to this assumption, if the price stays around $3, it suggests that the bulls are holding their position because they expect another leg higher. If the SUI/USDT pair goes above $3.15, the next stop could be $4.

The 4-hour chart shows that the pair is facing a sell-off above $3. The first support on the downside is $2.70. If the price rebounds with the strength of $2.70, it shows that the bulls are not waiting for a deep correction to buy. That could take the pair to $3.15 and later to $3.60.

Alternatively, if the price is below $2.70, it indicates profit booking by short-term traders. The pair may descend towards the 20-EMA.

Aave token price analysis

Ave (AAVE) picked up momentum after breaking out of the moving averages on November 6 and reached psychological resistance of $200 on November 9.

The bears will try to stop the upward movement at $200, but if the bulls don't give the sellers more ground, the possibility of a reversal increases. If buyers breach the $200 resistance, the AAVE/USDT pair may rally to $260.

The immediate support on the lower side is $180. A break below this level could accelerate the sell-off, pulling the price towards the 20-day EMA ($160). A deep retracement can delay the start of the next leg up.

The pair is experiencing a sell-off near $200, which could push the price down to the 20-EMA. If the price recovers strongly from the 20-EMA, the bulls will make one more attempt to drive the pair above $200. If they can do that, the pair could rise to $220.

Instead, if the price is below the 20-EMA, it indicates that short-term traders are taking profits. That could pull the pair to $175 and then to strong support at $165.

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.