SOL, AVAX, SUI and NEAR are ahead as Bitcoin price trades in the $90K zone

Bitcoin (BTC) continues to move upward, rallying over 12.5% ​​this week. Not that the Bears gave up easily. In the year On November 14 they tried to start pulling, but the bulls held their ground. The price has been trading in a narrow range near its all-time highs, improving the possibility of an upside breakout.

CryptoQuant contributor Darkfost said in a market update that Bitcoin whales haven't stopped buying even at around $90,000 and that “most are a sign of confidence in the market.”

Bitcoin's rally boosted sentiment in the cryptocurrency sector, with several altcoins rising. However, traders should be careful because if Bitcoin fails to hit and hold a new all-time high, it may start taking profits.

What are the critical support levels to look out for in Bitcoin? If the supports hold, can altcoins continue their rally? Let's look at 5 best currencies with strong technical structure.

Bitcoin price analysis

Bitcoin bears are trying to stop the movement in the protection zone from $92,000 to $93,265, but a positive sign is that the bulls have not given much ground.

This increases the likelihood of a continuation of the rise. If buyers drive the price above $93,265, the BTC/USDT pair may rise to the psychological level of $100,000. This level could again act as a strong barrier, but if the buyers make it all the way, the pair could reach $113,331.

If the bears want to prevent the upside, they need to quickly reduce the price below the $85,000 support. If they do that, the pair could sink towards the 20-day exponential moving average ($80,791). A break and close below the 20-day EMA will bring the bears back into play.

The 4-hour chart shows that the pair has formed a symmetrical triangle pattern, indicating a conflict between bulls and bears. If the price breaks and closes above the triangle, it shows that buyers have confirmed their dominance. That could start a move higher towards $100,000.

Instead, if the price declines and breaks below the triangle, it suggests that short-term bulls will take profits. That may start dropping to $85,000 and then $80,000.

Solana token price analysis

Buyers successfully defended Solana's (SOL) test of the $210 breakout level, indicating positive sentiment.

The bulls pushed the price above the upper resistance of $225 on November 17, indicating the beginning of a new upward movement. There is minor resistance near $242, but it can be crossed. SOL/USDT pair can reach $260, bears are expected to pose a big challenge. If buyers challenge the $260 level, the pair could rise to $304.

If the price declines and falls below the 20-day EMA ($198), this bearish view will become invalid in the near term. Such a move shows that the markets have rejected the collapse.

A move to the upside is facing profit booking near $240, but a shallow retracement suggests the bulls are not in a rush for an exit. This improves the prospect of a continuation of the rise to $260.

Conversely, if the price declines and breaks below $225, it would indicate that the bears are highly active. The pair may drop to $210, which is key short-term support. A break below $200 would tilt the advantage to the bears.

Price analysis

Avalanche (AVAX) It rebounded from the 20-day EMA ($30.60) on November 15 and reached the resistance line of the ascending channel pattern on November 17.

The 20-day EMA and Relative Strength Index (RSI) near overbought territory increase the likelihood of a reversal. If that happens, the AVAX/USDT pair could rally to $41.80 and then to $50.

Contrary to this assumption, if the price fails to stay above the channel, it indicates that bears will continue to sell in rallies. The pair may then drop down to the 20-day EMA, extending its stay in the channel for more time.

The 4-hour chart shows that the bears are strongly defending the resistance line of the ascending channel. If the price is above the current level or the 20-EMA, the bulls will again try to clear the barrier above. If they succeed, the pair could rise to $41.80 and then to $45.91.

Conversely, a break below the 20-EMA indicates that the bears are attempting a comeback. The pair may slide towards the 50-SMA and then towards $31.

Related: Why is Solana (SOL) price up today?

Sui price analysis

Sui (SUI) has rallied vertically since breaking above $2.37 on November 9, indicating that the bulls are in control.

The bears tried to disrupt the rally on several occasions, but the bulls bought the intraday bears. The SUI/USDT pair may rally towards $4, where the bears will try again to stop the advance. However, if the bulls win, the pair could rise to $4.25 and later to $4.70.

The 20-day EMA ($2.86) is an important support to watch for the downside. A break and close below the 20-day EMA indicates that the bulls are losing their grip. The pair could sink to $2.37.

The 4-hour chart shows that the pair is taking support at the 20-EMA during pullbacks, indicating buying on dips. If buyers push the price above $3.93, the pair could rally to $4 and then to $4.40.

Conversely, if the price declines and breaks below the 20-EMA, it indicates that the bulls are rushing to take profits. The pair may drop to the 50-SMA and below to strong support at $2.80.

Near protocol cost analysis

The near-term protocol (Near) suggested a short-term trend reversal after breaking above the 50-day SMA ($4.71) on November 11.

The NEAR/USDT pair has reached resistance above $6.50, which is crucial to watch in the near term. The rising 20-day EMA ($4.96) and RSI suggest that at least resistance in the overbought zone is on the upside. If buyers push the price above $6.50, the pair could rise to $7.70 and eventually $8.58.

Alternatively, if the price declines significantly from the current level and breaks below the 20-day EMA, it indicates that the pair may swing in a larger range between $6.50 and $3.42 for some time.

A negative difference in the RSI indicates that the momentum is decreasing. A break and close below the 20-EMA can accelerate the sell-off, pulling the pair to the 50-SMA and later to strong support at $5.

On the other hand, if the price breaks from the current level and goes above $6.15, the bulls will remain buyers on the dips. The pair will make another attempt to rise above $6.50. If that happens, the rally could reach $7 and then $7.70.

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.