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Bitcoin and Ether are leading the cryptocurrency markets from the front, but the risk of a short-term pullback remains.

News of BlackRock registering the iShares Ethereum Trust increased expectations that the asset manager may eventually apply for an Ether (ETH) spot exchange-traded fund. This is a positive sign as it shows that BlackRock’s cryptocurrency aspirations are not limited to Bitcoin (BTC).

Market observers are increasingly optimistic that spot Bitcoin ETFs will be greenlighted by the United States Securities and Exchange Commission in 2024. Bloomberg Intelligence research analyst James Seyffart said on X (formerly Twitter) that there is still a 90% possibility that the regulator will approve a spot Bitcoin ETF by Jan. 10 of the next year.

Galaxy Digital founder Mike Novogratz believes that the approval of the Bitcoin ETF, followed by the Ether ETF, will boost institutional adoption in 2024. During Galaxy Digital’s third-quarter earnings call on Nov. 9, Novogratz exhibited confidence that approval for ETFs “is now not a matter of if but when.”

Could the expectations regarding ETF approvals sustain the rally in Bitcoin and select altcoins, or will profit-booking set in?

Let’s analyze the charts of the top 10 cryptocurrencies to find out.

Bitcoin price analysis

Bitcoin shot up above the ascending channel pattern on Nov. 9, but the higher levels witnessed profit-booking as seen from the long wick on the candlestick.

The relative strength index (RSI) has been trading in the overbought territory for the past several days, indicating that the bulls have maintained the buying pressure. If the current rebound sustains, the buyers will try to propel the BTC/USDT pair to $40,000 again.

On the contrary, if the price dips back into the channel, it will indicate that markets have rejected the higher levels. That could pull the price down to the 20-day exponential moving average ($34,240), an important level to watch out for. A break below this level will tilt the short-term advantage in favor of the bears.

Ether price analysis

Ether skyrocketed above the psychological resistance of $2,000 on Nov. 9, indicating aggressive buying by the bulls.

The recent rally has propelled the RSI into the overbought territory, suggesting a consolidation or correction may be around the corner. Sellers will try to halt the up-move at $2,200, but if they want to weaken the momentum, they will have to yank the price back below $2,000.

Contrarily, if the ETH/USDT pair surges above $2,200, it will open the doors for a potential rise to $2,950 as there is no significant resistance in between.

BNB price analysis

The bulls purchased the dip in BNB (BNB) on Nov. 9, indicating that the lower levels continue attracting buyers.

The bulls will try to drive the price above the overhead resistance at $265. If they can pull it off, the BNB/USDT pair could rise to $285 and thereafter attempt a rally to $310. This level is likely to pose a strong challenge for the bulls.

The crucial support on the downside is the 20-day EMA ($235). Sellers will have to tug the price below this level to gain the upper hand. The pair could then collapse to the 50-day SMA ($220).

XRP price analysis

XRP (XRP) turned down from $0.74 on Nov. 6 and broke below the immediate support at $0.67 on Nov. 9. This suggests profit-booking by the bulls.

The rising 20-day EMA ($0.61) and the RSI in the positive territory indicate that the bulls have the upper hand.

If the price snaps back from the 20-day EMA, it will suggest that the sentiment remains bullish and traders view the dips as a buying opportunity. That improves the prospects of a break above $0.74. The XRP/USDT pair could then climb to $0.85.

Contrary to this assumption, a break below the 20-day EMA could deepen the correction to the next support at $0.56.

Solana price analysis

Solana (SOL) nudged above the overhead resistance of $48 on Nov. 9 and followed that up with a sharp move above the overhead resistance on Nov. 10.

If the SOL/USDT pair maintains above $48, it will signal the start of the next leg of the uptrend. The pair may then ascend to $60.

The risk to the up-move is from the overbought level on the RSI. This suggests that the rally is overextended in the near term and ripe for a correction or consolidation. The longer the price remains in the overbought territory, the greater the possibility of a sharp pullback. A slump below $48 will be the first sign that the bulls may lose their grip.

Cardano price analysis

Cardano (ADA) pierced the overhead resistance at $0.38 on Nov. 9, but the long wick on the candlestick shows that the markets rejected the higher levels.

The bulls will again try to shove and sustain the price above the overhead resistance. If they are successful, the ADA/USDT pair could jump to $0.42 and subsequently to $0.46. Buyers may face a formidable resistance at $0.46.

Alternatively, if the price turns down from $0.38, it could slide to the 20-day EMA ($0.32). This remains the critical level to watch for on the downside. A strong rebound off it could keep the advantage with the buyers, while a break below it may indicate a range-bound action in the near term.

Dogecoin price analysis

Dogecoin (DOGE) swung wildly on Nov. 9, as seen from the long wick and tail on the candlestick. This suggests indecision among the bulls and the bears.

A minor positive is that the bulls have not ceded much ground to the bears. This suggests that the bulls expect the recovery to continue. There is a stiff hurdle at $0.08, but if that is crossed, the DOGE/USDT pair may reach $0.10.

If bears want to make a comeback, they will have to pull the price back below the 20-day EMA ($0.07). The breakdown will suggest that the pair may consolidate inside a large range between $0.08 and $0.06 for some time.

Related: Bitcoin 'Terminal Price' hints next BTC all-time high is at least $110K

Toncoin price analysis

Toncoin (TON) closed above $2.59 on Nov. 8, but the bulls could not maintain the higher levels. The price turned down sharply and slipped back below $2.59 on Nov. 9.

A slight advantage in favor of the bulls is that the 20-day EMA ($2.29) support held on the downside. The bulls will again try to propel the price above the overhead resistance zone between $2.59 and $2.77. If they manage to do that, the TON/USDT pair could pick up momentum and travel toward the pattern target of $4.03.

This bullish view will be invalidated in the near term if the price continues lower and breaks below the 20-day EMA. The pair may then slump to $2.

Chainlink price analysis

Chainlink (LINK) reached $15 on Nov. 8, and the bulls tried to extend the rally on Nov. 9 but the long wick on the candlestick shows selling at higher levels.

The LINK/USDT pair could slide to the 50% Fibonacci retracement level of $13.24. If the price rebounds off this level with force, the bulls will again try to overcome the obstacle at $15. If they succeed, the pair may surge to $18.

On the downside, if the price tumbles below $13.24, it will suggest that the traders are rushing to the exit. That could open the doors for a possible decline to the 20-day EMA ($11.94). This level is again expected to witness a tough battle between the bulls and the bears.

Polygon price analysis

Polygon’s (MATIC) rally picked up pace after it broke above $0.70, but the up-move is facing selling near the overhead resistance at $0.89.

The price could dip to the 38.2% Fibonacci retracement level of $0.76. If the price rebounds off this level, it will enhance the prospects of a rally above $0.89. If that happens, the MATIC/USDT pair will complete a double bottom pattern. This bullish setup has a target objective of $1.29.

Conversely, if the price breaks below $0.76, the next stop could be $0.70. Such a deep correction will suggest that the pair may continue oscillating inside the large range between $0.49 and $0.89 for a while longer.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Bitcoin traders want to convert the $36,000 level to support, but will failure to do this kick off a market-wide correction?

Bitcoin’s (BTC) rally stalled near $36,000, but the bulls have not hurried to book profits. According to Glassnode analysis, the Long-Term Holder metric, which are addresses holding Bitcoin for at least 155 days, supply is near an all-time high, while the Short-Term Holder, addresses holding coins for less than 155 days, supply is near an all-time low, indicating tightening Bitcoin supply.

Although the long-term looks positive, there could be fireworks in the short term. Bitcoin derivatives markets have seen a huge build-up of open interest, rising above $16 billion at the time of writing, per CoinGlass data. J. A. Maartunn, a contributor to on-chain analytics platform CryptoQuant, highlighted on X (previously Twitter) that increases in open interest above $12.2 billion have previously resulted in a minimum dip of 20%.

While Bitcoin risks a decline in the near term, traders have started accumulating select altcoins. That has resulted in solid rallies in several altcoins, which have broken out of long basing patterns and are showing signs of starting a new uptrend. Altcoins may witness bouts of profit-booking but are likely to remain in focus as long as Bitcoin does not crumble below $30,000.

What are the critical support levels in Bitcoin that need to hold for the uptrend to continue? Will the altcoin rally sustIain, or is it time to book profits?

Let’s analyze the charts of the top 10 cryptocurrencies to find out.

Bitcoin price analysis

Bitcoin continues to trade inside a narrow ascending channel pattern, indicating that buyers are cautious at the current levels.

The upsloping 20-day exponential moving average ($33,612) and the relative strength index (RSI) in the overbought zone indicate that the path of least resistance is to the upside. If buyers propel the price above the channel, it will suggest that the bulls are back in the driver’s seat. That could clear the path for a potential rally to $40,000. This level is likely to attract strong selling by the bears.

On the contrary, if the price turns down and plunges below the 20-day EMA, it will suggest that the bulls are booking profits. The BTC/USDT pair could then drop to $32,400 and eventually to $31,000.

Ether price analysis

Ether (ETH) has been slowly moving higher toward the significant resistance at $2,000. This is an important level to watch out for as the bears stalled the up-move at $2,000 on two previous occasions in May and July.

If the ETH/USDT pair does not give up much ground from $2,000, it will suggest that the bulls are holding on to their positions as they anticipate another leg higher. There is a minor resistance at $2,200, but if this level is scaled, the up-move may pick up momentum and skyrocket toward $3,500.

Instead, if the price turns down from the current level and breaks below the 20-day EMA ($1,800), the next stop is likely to be $1,746.

BNB price analysis

BNB (BNB) has been in a recovery phase for several days. The price reached $256 on Nov. 6, where the bears stepped in to stall the up-move.

Sellers will try to pull the price down to the 20-day EMA ($232), which is a necessary level to keep an eye on.

If the price rebounds off this level with strength, it will suggest that the sentiment remains positive and traders are viewing the dips as a buying opportunity. The BNB/USDT pair could then travel to $265, where the bears may again pose a substantial challenge.

Contrarily, if the price turns down and breaks below the 20-day EMA, it will indicate that the bears are back in the game.

XRP price analysis

XRP (XRP) climbed above the $0.67 resistance on Nov. 6, but the bulls could not surmount the next barrier at $0.74.

That may have tempted short-term bulls to book profits, which pulled the price below $0.67 on Nov. 7. The long tail on the day’s candlestick shows that lower levels continue to attract buyers. If the price remains above $0.63, it will improve the prospects of a retest of $0.74. Above this level, the XRP/USDT pair may rise to $0.85 and then to $1.

Contrary to this assumption, if the price breaks below $0.63, it will signal that the bullish momentum has weakened. The pair could then slip to the 20-day EMA ($0.60).

Solana price analysis

Solana (SOL) has been consolidating in an uptrend. The price is stuck between the overhead resistance at $48 and the support at $38.

Both moving averages are sloping up, and the RSI is in the overbought zone, indicating that the bulls have the upper hand. The price could climb to $48, which may witness a tough battle between the bulls and the bears. If bulls overcome this obstacle, the SOL/USDT pair could jump to $60.

If bears want to make a comeback, they will have to sink and sustain the price below the 20-day EMA ($36.30). That could start a deeper correction to the 50-day SMA ($27.35).

Cardano price analysis

Cardano (ADA) has been in a strong uptrend for the past few days. The price reached $0.38 on Nov. 6, where the bulls are likely to face solid resistance from the bears.

The price pulled back on Nov. 7, but a minor positive is that the bulls purchased at lower levels, as seen from the long tail on the candlestick. Buying indicates that the bulls expect the overhead resistance to be scaled.

If buyers drive and sustain the price above $0.38, the ADA/USDT pair could start the next leg of the uptrend to $0.42 and subsequently to $0.46. This positive view will be invalidated in the near term if the price breaks below $0.33.

Dogecoin price analysis

Buyers are trying to shove Dogecoin (DOGE) above $0.08. The previous attempt in July had fizzled out at this level; hence, the bears will again try to guard $0.08 with vigor.

The upsloping 20-day EMA ($0.07) and the RSI in the positive territory indicate that bulls have the edge. If buyers do not give up much ground from $0.08, it will increase the likelihood of a break above it. The DOGE/USDT pair could then surge toward the psychologically crucial level of $0.10.

If bears want to prevent the up-move, they will have to swiftly yank the price back below the 20-day EMA. That could signal a range-bound action between $0.06 and $0.08 for some time.

Related: Toncoin (TON) price skyrockets to 11-month high after Telegram launches 'Giveaways'

Toncoin price analysis

Toncoin (TON) surged above the overhead resistance of $2.59 on Nov. 8, indicating that bulls are in control.

The price action of the past few months resulted in a cup and handle formation, which completed on a break and close above $2.59. This bullish setup has a target objective of $4.03.

However, the bears are unlikely to give up easily. They will try to tug and sustain the price below the breakout level of $2.59. If they manage to do that quickly, it may trap several aggressive bulls who could rush to the exit. The TON/USDT pair could then start a sharp correction to $2.31.

Chainlink price analysis

Chainlink (LINK) has been in an uptrend for the past few days. After a brief consolidation, the bulls asserted their supremacy and resumed the up-move on Nov. 5.

The rally has reached the resistance at $13.50, which may act as a temporary roadblock. If buyers bulldoze their way through, the LINK/USDT pair may jump to $15 and thereafter to $18. The bears are expected to fiercely defend this level.

The vital support to watch on the downside is the 20-day EMA ($11.18). A break and close below this support will indicate that the bullish momentum may be reducing.

Polygon price analysis

Polygon (MATIC) pierced the overhead resistance at $0.70 on Nov. 6, indicating that the bulls are in the driver’s seat.

The bears tried to pull the price back below the breakout level of $0.70 on Nov. 7, but the bulls held their ground. This suggests that the bulls have flipped the level into support. That started the next leg of the uptrend toward $0.80. This level may act as a minor hurdle, but if crossed, the MATIC/USDT pair could reach $0.90.

The rally of the past few days has pushed the RSI into the overbought territory, cautioning of a possible consolidation or correction in the near term. The pair may then drop to the 20-day EMA ($0.66).

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Bitcoin price is losing its upward momentum, but data suggests traders are gearing up to buy any significant dips.

Bitcoin (BTC) soared above $35,000 on Nov. 2 and that may have sucked in the aggressive bulls who speculated that the next leg of the up-move was beginning. However, the price quickly turned around and fell back below $35,000 signaling that the breakout may have been a fake move.

A mild correction during an uptrend does not signal a trend change. It is generally a healthy sign as it shakes out weak hands. When markets are trending higher, dips are viewed as a buying opportunity, but it is better to wait for the price to find a bottom before buying. Strong support levels could be watched as potential places where buyers step in to arrest the decline.

MicroStrategy founder and executive chairman Michael Saylor said in an interview with CNBC that if traders hold a 12-month to 48-month time horizon, the current level is “a pretty ideal entry point into the asset.”

Bitcoin’s weakness has pulled several altcoins lower. What are the important support levels where the decline could end?

Let’s analyze the charts of the top 10 cryptocurrencies to find out.

Bitcoin price analysis

Bitcoin surged above $35,280 on Nov. 1 and tried to build upon this rally on Nov. 2 but the bears had other plans. Sellers stalled the up-move at $35,985 and are trying to sustain the price below $35,000.

If they do that, the BTC/USDT pair may skid to $33,390. This is an important level for the bulls to defend because if $33,390 cracks, the pair may fall to the 20-day exponential moving average ($32,611).

Generally, in an uptrend, the bulls fiercely defend the 20-day EMA. If the level holds, it will indicate that the trend remains positive. The bulls will then make one more attempt to kick the price to $40,000.

A break and close below the 20-day EMA will be the first sign that the bulls may be losing their grip. The pair may then tumble to $31,000.

Ether price analysis

The bulls nudged Ether (ETH) above the immediate resistance at $1,865 on Nov. 2 but the bears pulled the price back below the level, indicating strong selling at higher levels.

The bears will try to sink the price to the strong support at $1,746. This remains the key level to keep an eye on because a break and close below it will signal that the bears are back in the driver’s seat.

Meanwhile, the bulls are likely to have other plans. They will try to buy the dips and again attempt to overcome the obstacle at $1,865. If they can pull it off, the ETH/USDT pair could start a rally to the psychologically critical level of $2,000.

BNB price analysis

BNB (BNB) bounced off the breakout level of $223 on Nov. 1, indicating that the bulls are fiercely defending this level.

Buyers tried to thrust the price above the $235 resistance on Nov. 2 but the bears held their ground. This suggests that the BNB/USDT pair is stuck between $223 and $235 for some time.

The rising 20-day EMA ($223) and the RSI in the positive territory indicate the path of least resistance is to the upside. If bulls kick the price above $235, the pair may jump to $250 and eventually to $265. Conversely, the trend will shift in favor of the bears if they sink and sustain the price below $223.

XRP price analysis

XRP (XRP) is facing resistance near $0.61 but a positive sign is that the bulls have not lost ground to the bears.

The buyers will try to drive the price to the overhead resistance at $0.67. This level may again pose a strong challenge to the buyers but if they bulldoze their way through, the rally could extend to $0.75 and subsequently to $0.85. The upsloping 20-day EMA ($0.56) and the RSI in the overbought zone indicate that bulls are in control.

If bears want to make a comeback, they will have to yank the price back below $0.56. The XRP/USDT pair may then collapse to the 50-day SMA ($0.52).

Solana price analysis

Solana (SOL) climbed above $38.79 on Nov. 1 and reached near the target objective at $48 but the long wick on the day’s candlestick shows that traders aggressively booked profits at this level.

The price rebounded off $38.79 on Nov. 2 but the bulls could not sustain the intraday highs, suggesting that every rally is being sold into. The bears will try to build upon their advantage and sink the SOL/USDT pair below $38.79.

If they succeed, it could start a downward move toward the 20-day EMA ($32.41). Such a deep correction will suggest an end to the up-move in the near term. The pair may then enter a consolidation phase for a few days.

If bulls want to maintain their advantage, they will have to defend the $38.79 support. If the price turns up from this level with strength, the pair may retest the overhead resistance at $48.

Cardano price analysis

Cardano (ADA) snapped back from the 20-day EMA ($0.28) on Nov. 1 and rose above $0.30, indicating that the bulls are viewing the dips as a buying opportunity.

The price turned down from $0.33 on Nov. 2 but the bulls did not cede ground to the bears. This is a positive sign as it shows that the bulls are holding on to their positions as they anticipate the up-move to continue. The target on the upside is $0.38.

Contrary to this assumption, if the price turns lower and breaks below $0.30, it will indicate that the markets have rejected the higher levels. The ADA/USDT pair could then slump to the 20-day EMA ($0.28).

Dogecoin price analysis

Dogecoin (DOGE) rebounded off the 20-day EMA ($0.06) on Nov. 1 but the bulls could not sustain the higher levels.

The price returned to the 20-day EMA on Nov. 3 but the long tail on the candlestick shows that the bulls are fiercely defending the level. Buyers are again attempting to propel the price above $0.07. If they are successful, the DOGE/USDT pair will attempt a rally to $0.08. This level may again witness strong selling by the bears.

On the contrary, if the price once again turns down from $0.07, it will signal that bears are selling on rallies. A break and close below the 20-day EMA will indicate that the bears are back in the game. The pair may then tumble to $0.06.

Related: Bitcoin disappoints while Markets Pro delivers 88% gains in 29 hours

Toncoin price analysis

Toncoin (TON) rose to the overhead resistance of $2.31 on Nov. 2 but the bulls could not overcome the obstacle. This suggests that the bears are defending the level with vigor.

The upsloping moving averages and the RSI in the positive territory indicate that the bulls have a slight edge. A strong rebound off the moving averages will improve the prospects of a rally above $2.31. If this level is scaled, the TON/USDT pair could start its journey toward $2.59.

Instead, if the price turns down from the overhead resistance and breaks below the moving averages, it will suggest that the pair may swing between $1.89 and $2.31 for a few days.

Chainlink price analysis

Chainlink (LINK) has been facing resistance near $11.50, indicating that the bears have not given up and continue to sell on rallies.

The failure to sustain the higher levels may have tempted short-term traders to book profits on Nov. 2. That pulled the price back toward the 20-day EMA ($10.11). This remains the key level to watch out for on the downside.

If the rebound off the 20-day EMA sustains, it will suggest strong demand at lower levels. The bulls will then make one more attempt to rise above $11.50. If they succeed, the LINK/USDT pair may surge to $13.50 and subsequently to $15. Contrarily, a slide below the 20-day EMA may result in a retest of $9.50.

Polygon price analysis

Polygon (MATIC) has been moving up gradually but the rally lacks momentum. This shows hesitation among the bulls to continue buying at higher levels.

The rising moving averages and the RSI near the overbought zone indicate that bulls have the upper hand. If bulls clear the overhead hurdle at $0.70, the MATIC/USDT pair could rally to $0.74 and then to $0.80.

The bears are currently posing a strong challenge near the overhead resistance at $0.70 but they will have to sink the price below the 20-day EMA ($0.61) to weaken the bullish momentum. The pair may then oscillate inside the large range between $0.50 and $0.70 for a while.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Bitcoin is struggling to clear the hurdle at $35,000, signaling the possibility of a short-term pullback.

Bitcoin (BTC) skyrocketed 28.5% in October, its second-best monthly gain of the year behind the 40% rally in January. After the strong showing in October, the next question on investors’ minds is, could the bullish momentum continue and Bitcoin extend its recovery going forward?

Bernstein said in a note on Oct. 31 that Bitcoin could rally to $150,000 by 2025. The firm believes that the United States Securities and Exchange Commission will approve a spot Bitcoin exchange-traded fund by the first quarter of 2024 and the ETFs may attract up to 10% of Bitcoin’s circulating supply.

While the long-term looks bullish, the volatility may pick up in the near term. On-chain monitoring resource Material Indicators believes that the bullish momentum is weakening and may result in a retest of $33,000 but before that, they anticipate an attempt at $36,000.

Will Bitcoin break above or below the current range? Could altcoins rally when Bitcoin consolidates?

Let’s analyze the charts of the top 10 cryptocurrencies to find out.

Bitcoin price analysis

The bulls tried to propel Bitcoin above $35,280 on Nov. 1 but the bears did not relent. This suggests profit-booking at higher levels.

The relative strength index (RSI) is still in the overbought zone, indicating that the consolidation may extend for a few more days. The important level to watch on the upside is $35,280 and on the downside is $33,390.

If the price breaks below the support, the BTC/USDT pair could drop to the 20-day exponential moving average ($32,012). This level may witness a tough battle between the bulls and the bears.

On the upside, a break and close above the overhead resistance of $35,280 will signal the resumption of the uptrend. The pair may then climb to $40,000.

Ether price analysis

Ether (ETH) has been holding above the breakout level of $1,746 but the bulls are struggling to start the next leg of the uptrend. This suggests that the bears are trying to get back in the game.

The crucial level to watch on the downside is $1,746. If bulls flip this level into support, it will indicate that the sentiment has turned positive. That will enhance the prospects of a break above $1,865. The ETH/USDT pair may then surge to $2,000. The bears are expected to mount a strong defense at this level.

If bears want to gain the upper hand, they will have to tug the price back below the 20-day EMA ($1,723). That may catch the aggressive bulls on the wrong foot, leading to long liquidation. The pair may then slump to the 50-day SMA ($1,648).

BNB price analysis

The bulls are finding it difficult to maintain BNB (BNB) above $230, indicating that buying dries up at higher levels.

The BNB/USDT pair has turned down and reached the breakout level of $223. Buyers are likely to defend the zone between $223 and the 20-day EMA ($220). If the price rebounds off this zone, the bulls will again attempt to kick the pair toward the overhead resistance of $235.

On the contrary, if the price continues lower and breaks below the 20-day EMA, it will suggest that the bears are back in control. The pair may then tumble to the 50-day SMA ($214).

XRP price analysis

XRP (XRP) broke and closed above the overhead resistance of $0.56 on Oct. 30. This indicates the start of a new up-move.

The 20-day EMA ($0.54) has turned up and the RSI is in the overbought zone, indicating that the bulls have a slight edge. Buyers will try to build upon the advantage and push the price to $0.67.

Conversely, the bears will try to pull the price back below the breakout level of $0.56 and the 20-day EMA. If they manage to do that, the XRP/USDT pair may fall to the 50-day SMA ($0.52).

Solana price analysis

Solana (SOL) has been in a strong recovery. After hesitating for a few days near $34, the bulls asserted their supremacy and rose above the resistance on Oct. 30.

The buying continued and the bulls overcame the obstacle at the overhead resistance at $38.79 on Nov. 1. If buyers maintain the price above $38.79, the SOL/USDT pair could next attempt a rally to $48.

While the trend remains up, the overbought levels on the RSI suggest that the rally is overheated in the near term. That may make it difficult for the bulls to continue the up-move. A break and close below $38.79 may tempt short-term traders to book profits. That may sink the pair to $34.

Cardano price analysis

Cardano (ADA) turned down from the minor resistance at $0.30 on Oct. 31, indicating that the short-term traders are booking profits.

The nearby support on the downside is the 20-day EMA ($0.28). Buyers are expected to defend this level with vigor. If the price rebounds off the 20-day EMA, it will suggest that the sentiment has turned positive and traders are buying at lower levels. The ADA/USDT pair may then once again reach $0.30.

This view will be invalidated if the price continues lower and plummets below the 20-day EMA. Such a move will suggest that the pair may oscillate between $0.24 and $0.30 for a while longer.

Dogecoin price analysis

The bulls have been struggling to sustain Dogecoin (DOGE) above the $0.07 resistance, suggesting that higher levels are attracting sellers.

The bulls bought the dip to the 20-day EMA ($0.06) on Oct. 31 as seen from the long tail on the candlestick but they could not build upon this strength. Sellers are again trying to yank the price back below the 20-day EMA. If they succeed, it will suggest that bulls are losing their grip. The DOGE/USDT pair may then slump toward $0.06.

Alternatively, if the price once again rebounds off the 20-day EMA with strength, it will suggest that bulls are buying on dips. The bulls will then again try to clear the overhead hurdle at $0.07 and start the up-move to $0.08.

Related: Bitcoin crash pre-halving? Stablecoin metric that marked 2019 top flashes warning

Toncoin price analysis

Toncoin (TON) has formed a range between $1.89 and $2.31 for the past few days. The price turned down from $2.27 on Oct. 31 indicating that the bears continue to sell near the resistance.

The TON/USDT pair has slipped to the immediate support at the moving averages. If the price rebounds off this level with force, it will suggest that the sentiment has turned positive and traders are viewing the dips as a buying opportunity. That will improve the prospects of a rally above the overhead resistance at $2.31. The pair may then surge to $2.59.

Contrarily, if the price continues lower and breaks below the moving averages, it will suggest that the range-bound action may continue for a few more days.

Chainlink price analysis

The bulls have been attempting to propel and sustain Chainlink (LINK) above the overhead resistance at $11.50 but the long wick on the candlesticks shows that the bears are active at higher levels.

The drop on Nov. 1, indicates that the bears are trying to pull the price to the 20-day EMA ($9.80), which is an important level to watch out for. If the price rebounds off this level, the bulls will again try to push the LINK/USDT pair above $11.50. If they do that, the pair may rise to $13.50 and then to $15.

On the other hand, sellers will be back in the driver’s seat if they sink and sustain the price below $9.50. That may open the doors for a further fall to the 50-day SMA ($8.06).

Polygon price analysis

Buyers tried to propel Polygon (MATIC) above the overhead resistance of $0.66 on Oct. 31 but the bears held their ground.

This suggests that the MATIC/USDT pair could consolidate in a tight range between $0.60 and $0.66 for some time. The rising moving averages and the RSI in the positive territory indicate advantage to the bulls.

If buyers shove the price above $0.66, the pair could start the next leg of the relief rally toward $0.77. However, the bears are likely to have other plans. They will try to sink the price back below $0.60 and trap the aggressive bulls.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.