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

Bitcoin (BTC) hit a new all-time high of $75,407 on November 6, surpassing $73,777 reached on March 14. The rally was sparked after Donald Trump came close to winning the US presidential election.

Trump's victory is positive because the crypto industry hopes that the incoming president will keep his promises to the crypto community during the campaign. 10x head of research Markus Thielen told Cointelegraph that Bitcoin could reach $100,000 in Q1 2025.

The crypto rally is not limited to Bitcoin. Memecoins were the backdrops to suggest a threat to sentiment. The total meme market capitalization reached more than $67.5 billion, up from the April 1 high of $69.8 billion.

Although the mood is brutal, the whip cannot be avoided as the bears try to stop the rally. What are the important support and resistance levels to watch in Bitcoin and the major altcoins? Let's examine the charts of the top 10 cryptocurrencies to find out.

Bitcoin price analysis

Bitcoin rose to a new all-time high of $75,407 on November 6, indicating that the bulls are trying to assert their dominance.

Rising moving averages and Relative Strength Index (RSI) in positive territory point in favor of the bulls. If the price stays above $73,777, it indicates the beginning of the next uptrend. The pattern target out of the range is $93,554.

Time is running out for the bears. If they want to pull back, they need to pull the BTC/USDT pair below the 20-day exponential moving average ($68,808) quickly. If you do that, it suggests that the cut may be a bull trap.

Ether price analysis

Ether (ETH) closed below the support line of the balanced triangle pattern on November 4, but the bears could not sustain the lower levels.

The bulls pushed the price into the triangle on November 6. The ETH/USDT pair may rise to the resistance line and then to $2,850, the bears are expected to sell aggressively. If buyers overcome this hurdle, the pair may rejoin a downtrend line.

Conversely, if the price breaks below the resistance line, it indicates that the pair may remain in the triangle. If the price can pull below $2,300, the trend will support the bears.

Solana price analysis

Solana (SOL) rose sharply above its 50-day simple moving average ($156) and rose above its 20-day EMA ($166) on November 4.

The SOL/USDT pair rose above the $183 resistance on November 6, indicating strong buying by bulls. There is little resistance at $189, but it can be crossed. The pair may test the strong profit resistance of $210.

If the price declines significantly from $210 and breaks below $189, it suggests that the pair may extend its stay in the larger range. Conversely, a break above $210 could open the door for a rally towards $260.

BNB price analysis

BNB (BNB) has broken from the high line on November 5th, and the bulls are trying to keep the price above the moving averages on November 6th.

If they succeed, the BNB/USDT pair may rise to $612 and then to $635. Buyers will find it difficult to overcome the barrier at $635, but if they can pull through, the pair could start a new move towards $722.

The high line is an important support to watch out for on the downside. A break and close below the high line indicates that the pair will continue to oscillate in the larger range between $460 and $635 for some time.

XRP price analysis

The bears' inability to hold XRP (XRP) below the $0.50 support has begun to recover, with the price rising above the 20-day EMA ($0.52).

The bears will try to stop the rally at the 50-day SMA ($0.54), but if the buyers have their way, the XRP/USDT pair may rise to $0.64. Sellers are expected to mount strong resistance at the $0.64 level.

Contrary to this assumption, if the price falls significantly below the 50-day SMA, it indicates that the bears are highly active. If the pair slips below the $0.50 support, selling could accelerate.

Dogecoin price analysis

Dogecoin (DOGE)'s bullish move picked up momentum after breaking out of the $0.18 resistance on November 6.

The bears have not given up and are trying to stop the rally at $0.22, as seen from the long wick on the candle. However, if the DOGE/USDT pair does not give much ground from the current level, the possibility of a break above $0.23 will increase. If that happens, the pair could rise to $0.30.

Bears need to quickly pull the price from the $0.18 low if they want to prevent the upside. The pair may fall towards the 20-day EMA ($0.15). Such a deep pullback may delay the next upward move.

Token price analysis

Toncoin (TON) found support in the $4.44 to $4.72 range on November 5, indicating buying lows.

The bulls will attempt to start a rally but may face strong resistance at the 20-day EMA ($4.94) and 50-day SMA ($5.26). If the price deviates from the moving averages, a break below $4.44 is likely. If that happens, the TON/USDT pair will complete a bear-head-and-shoulders pattern. The next support is at $3.50.

Conversely, a break and close above the 50-day SMA indicates that the bears are losing their grip. The pair may rise to $6, which is expected to act as minor resistance.

Related: Here's what's happening in crypto today.

Cardano price analysis

Cardano (ADA) has been oscillating in the $0.31 to $0.40 range for several days, reflecting buying on dips and selling on rallies.

If the price holds above the moving averages, the ADA/USDT pair may break above the resistance of the $0.40 range. This level could act as strong resistance but if the bulls lose, the pair could rally to $0.45 and then to $0.49.

Instead, if the price drops from the current level or $ 0.40, it shows that the sellers are strongly protecting the excess protection. This may extend the stay in the region for more time.

Shiba Inu price analysis

Shiba Inu (SHIB) broke below the 50-day SMA (0.000017) on November 3, but the bears failed to take advantage.

The bulls pushed the price to $0.000020 on November 6. This is an important level for bears to defend against because a breakout and close above it would complete an inverted H&S pattern. That could start a new bullish move towards $0.000026 and then towards $0.000029.

If the price declines and breaks below the $0.000016 support, this bullish outlook is worthless in the near term. That suggests that the SHIB/USDT pair may stay in the $0.000013 to $0.000020 range for some time.

Price analysis

Avalanche (AVAX) rallied from $22.35 on November 5 and rose above the 20-day EMA ($25.59) on November 6, indicating strong buying at lower levels.

The RSI has risen to positive territory, which indicates that the bulls are on their way back. The AVAX/USDT pair may reach a resistance line, which is an important near-term level to monitor. If buyers break this barrier, the pair could start a new move towards $33 and later towards $37.50.

If the bears want to regain the advantage, the price will need to quickly pull the price below $22.35. If they do, the pair could drop to $20.50.

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.