BTC, ETH, BNB, XRP, SOL, ADA, DOGE, TON, LINK, AVAX

Traders hate uncertainty; Therefore, the settlement between Binance, Changpeng “CZ” Zhao and the United States Department of Justice can be seen as positive for the cryptocurrency space. Analysts remained mostly positive on the deal, but a few seemed cautious because of the pending Securities and Exchange Commission lawsuit against Binance.

Following the Binance news, Bitcoin (BTC) and several major altcoins fell sharply on November 21, but are finding support at lower levels. This indicates that traders are entering and buying at lower levels after the initial knee reaction. After the initial swing, the bulls may face strong resistance from the bears.

Buying on dips and selling on rallies results in range-bound action as both bulls and bears battle for dominance. Generally, a consolidation near the 52-week high is considered a strong signal, but traders should wait for a reversal confirmation before jumping in to buy.

Will Bitcoin and selected altcoins stay stuck in a range for the next few days? What are the important steps to pay attention to?

Let's examine the charts of the top 10 cryptocurrencies to find out.

Bitcoin price analysis

The bears pulled Bitcoin below the 20-day moving average ($35,948) on November 21 but failed to sustain lower levels. Strong buying by bulls led the price to bounce back above the 20-day EMA on November 22.

The BTC/USDT pair has been consolidating between $34,800 and $38,000 for several days. This shows the balance between supply and demand. A slightly positive 20-day EMA is trending upward in favor of the bulls, and the Relative Strength Index (RSI) remains in the positive zone.

If the bulls push the price above $38,000, the pair may start the next leg of growth towards $40,000. This level could serve as heavy resistance, but if cleared, the pair could rise to $48,000.

On the contrary, if the price reverses and breaks below $34,800, it indicates that the traders are rushing to the exit. That could open the door for further declines to $32,400.

Ether price analysis

Ether (ETH) rejected the resistance line on November 20 and slipped below the 20-day EMA ($1,957) on November 21.

However, the bulls had other plans. They aggressively bought the drop below the 20-day EMA and are again trying to overcome the barrier at the resistance line. This is an important level to watch because a break above it could start a rally to $2,137 and then $2,200.

On the downside, $1,880 is an important support to maintain. If this level fails to hold, the ETH/USDT pair may begin a deep correction towards the 50-day simple moving average ($1,791). That can delay the start of the next movement leg.

BNB price analysis

BNB (BNB) saw a wild ride on November 21, with an intraday high of $272 and a low of $224. This shows uncertainty about the next directional movement between bulls and bears.

A slight positive is that the bulls did not allow the price to break below the major support at $223. That started a recovery on November 22nd, and the bulls are trying to push the price back above the 20-day EMA ($240). If they succeed, it indicates that the BNB/USDT pair could consolidate between $223 and $265 for some time.

Conversely, if the price fails to stay above the 20-day EMA, it suggests that bears are selling in rallies. That would again take the price to $223. A break below this support could extend the decline to $203.

XRP price analysis

XRP (XRP) rejected the 20-day EMA ($0.61) on November 20 and fell to the 50-day SMA ($0.57) on November 21.

The bulls are expected to protect the support at $0.56 because failure to do so may lead to a decline to $0.46. A slightly downtrending 20-day EMA and an RSI below the midpoint indicate modest gains for the bears.

If the price breaks above the 20-day EMA, it suggests strong buying at lower levels. That shows range-bound action for a few days between $0.56 and $0.74. After the XRP/USDT pair rose above $0.74, the bulls are back in the driver's seat.

Solana price analysis

Solana (SOL) broke above the critical profit resistance of $0.59 on November 19, but the bulls could not build on this strength. The Bears were On November 20th, they dropped the price below $0.59.

The SOL/USDT pair broke above the 20-day EMA ($51) on November 22, indicating that the bulls are aggressively maintaining the level. Buyers will again try to overcome the barrier at $59 and test the local high at $68.

On the contrary, if the price drops again from 59 dollars, it suggests that the bears will remain highly active. Sellers will again attempt to push the price below the necessary support at $48. If this level gives way, the pair may touch the nose towards the 50-day SMA ($37).

Cardano price analysis

The bulls' repeated declines started a correction on November 21 to keep Cardano (ADA) above the $0.38 breakout level.

The price has reached the 20-day EMA ($0.35), which acts as a strong support. A sharp retracement at this level indicates strong buying by bulls. It also adds more than $0.39 in breakeven potential. If this level is weighed, the ADA/USDT pair could rise to $0.46.

Bears need to quickly pull the price below the 20-day EMA if they want to defend the rally. There is minor support at $0.34, but if it is broken, the pair may slide towards the 50-day SMA ($0.30).

Dogecoin price analysis

Dogecoin (DOGE) fell below the 20-day EMA ($0.07) on November 21, but the bears are struggling to maintain the lower levels.

The bulls are trying to push the DOGE/USDT pair back above the 20-day EMA. If you can pull it, it suggests buying aggressively on the dips. The bulls will then make one more attempt to clear the barrier above $0.08 and begin the journey to $0.10.

Alternatively, the bears will try to sell the rallies and keep the price pinned below the 20-day EMA. That could open the door to the 50-day SMA ($0.07) and eventually critical support at $0.06.

RELATED: BTC price rises 3% after Binance calls for Bitcoin bulls to ‘get in'

Token price analysis

Toncoin (Ton) is finding support at the 50-day SMA ($2.19), indicating that the sentiment remains positive and traders are buying dips.

Both moving averages remain flat, and the RSI is above the midpoint, indicating range-bound action in the short term. If the price stays above $2.40, the TON/USDT pair may rise to $2.59.

Contrary to this assumption, if the price declines and breaks below the 20-day EMA, the pair may test the support at the 50-day SMA. If this support is breached, the pair may begin a downward journey towards $2 and then $1.89.

Chainlink price analysis

Chainlink (LINK) rejected immediate resistance from $15.39 on November 20 and fell below the 20-day EMA ($13.63) on November 21.

The LINK/USDT pair bounced back above the 20-day EMA on November 22, indicating interest in lower levels. Buyers will try to push the price above $15.39 and retest the profit resistance at $16.60.

Meanwhile, the bears may have other plans. They will try to defend the $15.39 level and pull the price below the 61.8% Fibonacci retracement level of $12.83. If it does, the pair may drop to the 50-day SMA ($10.94).

Price analysis

Avalanche (AVAX) closed above the $10.52 to $22 range on November 19, but the bulls were unable to sustain the highs. The bears pulled the price back below the breakout level on November 20.

The 20-day EMA ($17.71) is trending upward, and the RSI is in positive territory, indicating that the bulls are dominant. Buyers will try to push the price above $22 again, and if they succeed, it will signal the start of a new move. The AVAX/USDT pair may start its journey towards $30.

On the contrary, if the price falls below 22 dollars, it shows that the bears will defend the level aggressively. That adds to the possibility of a break below the 20-day EMA. If that's the case, the pair may be stuck in the larger range for a while.

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.