SOL, LINK, NEAR and THETA will blink as Bitcoin takes a breather.

Bitcoin (BTC) has been consolidating above $35,000 for several days, but the bulls could not continue the growth above $38,000. This shows a reluctance to buy at high levels. BitGo CEO Mike Belshe said in a recent interview with Bloomberg that the space's Bitcoin exchange-traded fund applications may face another round of rejections before they are finally approved.

Many analysts believe that Bitcoin will enter a correction in the near future, the worst outcome will be a drop to $ 30,000. However, a fall is unlikely to initiate a bear phase. Look Into Bitcoin creator Philip Swift says on-chain data suggests that the Bitcoin bull market is still in its early stages with “no FOMO yet.”

As Bitcoin takes a breather, several altcoins have seen a pullback, but some are showing signs of continued improvement. Fidelity and BlackRock's filings for the Ether ETF show significant investment interest in select altcoins.

Can Bitcoin stay above $35,000 in the next few days? Is it time for altcoins to start the next leg of their movement? Let's take a look at the top 5 cryptocurrency charts that can go up in a short period of time.

Bitcoin price analysis

Bitcoin is facing strong resistance around $38,000, but a positive sign is that the bulls are not letting the price drop below the 20-day moving average ($35,666).

The moving averages and Relative Strength Index (RSI) in the positive zone indicate that bulls are dominant. If the price bounces back from the 20-day EMA, the bulls will make one more attempt to overcome the $38,000 roadblock.

If they succeed, the BTC/USDT pair could reach $40,000. This level may signal bearish selling, but if buyers break through, the rally could eventually touch $48,000.

The first sign of weakness will be a close below the 20-day EMA. That suggests there may be a regional move in the near future. The pair may remain stuck between $34,800 and $38,000 for some time. A break below $34,800 could clear the way for a decline to $32,400.

The 4-hour chart shows that the price is oscillating between $38,000 and $34,800. Both moving averages have extended, and the RSI is near the midpoint, indicating that range-bound action may continue for more time.

The tight consolidation near the 52-week high is a positive sign as it shows that the bulls are not closing their positions in a hurry. This also increases the chance of tipping over. If that is the case, the pair may continue to rise. The short-term trend is in favor of bears at a break below $34,800.

Solana price analysis

Solana (SOL) fell below the $59 loss level on November 16, but the bears failed to take advantage of this. This indicates that selling will dry up at lower levels.

The bulls are once again trying to get the price back above $59. If they do that, it shows that the markets have rejected the lows. The SOL/USDT pair may rise to $68.20. If this level is measured, the pair can continue to rise. The next target is $77 and then $95.

This bullish action will be rejected if the price drops below $48. That could initiate a steep correction towards the 50-day SMA ($35.47). The deeper the decline, the longer it takes to start the next uptrend leg.

The 20-EMA is stretched, and the RSI is above the midpoint, indicating a balance between supply and demand. If buyers push the price above $64, the pair can test the local high at $68.20.

On the other hand, if the price declines and breaks below $54, it indicates that the bears are back in the game. The pair may fall to $51 and eventually to strong support at $48. A break below this level will tilt the advantage to the bears.

Chainlink price analysis

Chainlink (LINK)'s pullback is finding support at the 20-day EMA ($13.42), indicating that lower levels continue to attract buyers.

The bulls will next try to push the price towards the local high of $16.60. This level may witness a fierce battle between the bulls and bears, but if this hurdle is overcome, the LINK/USDT pair may start the next leg of the rally towards $20.

Instead, if the price drops below $15.38, it would indicate that bears are selling in rallies. Then they will try to lower the price below the 61.8% Fibonacci retracement level of $13.55. If it manages to do that, the pair could fall towards the 50-day SMA ($10.54).

The pair has been declining in a descending channel pattern for the past few days. Generally, traders sell near the resistance line of the channel, and they are doing so. If the price slips below $13.36, it will open the doors to the failure of the support line.

Conversely, if buyers push the price above the channel, it suggests that the correction may end. The pair may rise first to $15.38 and then to $16.60. The flat 20-EMA and RSI near the midpoint do not give a clear advantage to either the bulls or the bears.

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Near protocol value analysis

On November 17, it rose above $1.72 high resistance and closed. This action indicates a potential trend reversal in the short term.

The rising 20-day EMA ($1.58) and the RSI in the positive zone indicate that the bulls are in charge. There is little resistance at $2. If this barrier is cleared, the NEAR/USDT pair may rise to $2.40.

Meanwhile, the bears may have other plans. They will try to pull the price back below the $1.72 breakout level and trap aggressive bulls. The pair may fall towards the 20-day EMA. This is a critical level to watch out for because falling below it means the sellers are back in the game.

The pair was holding above the $1.72 breakout level, but the bulls failed to initiate a strong move. This shows that the bears are not disappointed and are trying to return the price below $1.72.

If you can pull it off, the price can drop to $1.60. If this level gives way, several stops may be raised. The pair could drop to $1.45 and then to $1.28. On the other hand, if buyers push the price above $1.95, the pair could start a journey towards $2.10.

Theta Network price analysis

Theta Network (THETA) is finding support at the 20-day EMA ($0.88) after a correction over the past few days. This indicates that the sentiment is positive, and traders see dips as a buying opportunity.

A retracement of the 20-day EMA may face resistance at the $1 psychological level. If this level is broken, the THETA/USDT pair may move higher to $1.05 and then to $1.20. This level could once again act as a strong barrier, but if cleared, the pair could rise to $1.33.

Bears need to quickly pull the price below the 20-day EMA if they want to defend the rally. This indicates that the bulls are rushing to the exit. The pair may initiate a deeper correction at the 50-day SMA ($0.72).

The pair is adjusting in a falling wedge, which is usually a bullish setup. To indicate strength, buyers should break the price above the trunk and hold. The pair may first rise to $1.05 and then retest the resistance at $1.20.

On the contrary, if the price falls below the protection line, it suggests that the pair will be stuck in the wedge for some time. The sentiment could turn bearish on a slide below the wedge.

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.