A Bitcoin move to $80,000 could trigger a rebound in ETH, SOL, SUI, and AAVE.

Bitcoin (BTC) has been on the rise this week, surpassing $80,000 on November 10th. Analysts believe the rally has just begun and Bitcoin has a long way to go. “There is no need for rash actions, HODLing does the work for you,” Bitcoin analyst Tuur Demeester said in a post about X.

Beginner traders may think Bitcoin is overvalued due to its rise, but “Bitcoin is different,” Bitwise Invest CEO Hunter Horsley said in a post on X.

“As the price of Bitcoin rises, people think that Bitcoin has a higher chance of success and thus becomes more valuable. So prices are likely to go up further,” Horsley explained.

This rally is not limited to Bitcoin. Several altcoins began breaking through their respective overhead resistance levels, signaling improving sentiment.

However, popular commentator WhalePanda warned that moves with low liquidity on the weekend almost always “retrace” completely.

Will Bitcoin stay higher and push some altcoins higher? Let’s study the charts of the top five cryptocurrencies to find out.

Bitcoin Price Analysis

Bitcoin bulls are not giving any ground to the bears and this may have led to another round of short selling on November 10th. This raised the price to over $80,000.

The target for a breakout of the $54,000 to $73,777 range is $93,554. This level may act as resistance, but buyers will try to extend the uptrend towards the psychologically important level of $100,000.

Time is running out for the bear. If we want to make a comeback, the price must fall below the 20-day exponential moving average ($71,753). This could trigger a long-term liquidation, pushing the BTC/USDT pair towards the 50-day simple moving average ($66,864).

Looking at the 4-hour chart, we see that the bulls have bought the bears down to the 20-EMA, which is a key level to watch in the near term. If the bulls do not allow the price to slip below the 20-EMA, the pair could surge to $93,554.

Conversely, if the price declines and falls below the 20-EMA, it means that the bullish momentum is waning. The pair may decline towards $75,500 and then hit the breakout level of $73,777.

Ether Price Analysis

Ethereum (ETH) has surged after rebounding from the support level of the symmetrical triangle pattern on November 6th.

A break above $2,850 opened the door for a rebound towards the downtrend line. Sellers are expected to do their best to defend the downtrend line, as a breakout could send the price soaring to $4,094.

An important support level to watch for downside is $2,850. If the price shows strength and bounces from $2,850, it would be a sign that sentiment remains positive and traders are buying on the dip. However, a drop below $2,850 would give the bears an advantage.

The sharp rally has pushed RSI into severely overbought territory on the 4-hour chart, increasing the likelihood of a near-term decline. 20-EMA is the first support to watch out for. If the price rebounds strongly from the 20-EMA, bulls will attempt to push the ETH/USDT pair up to $3,500.

On the other hand, if the price falls below the 20-EMA, it suggests that traders are rushing for the exits. This could push the price down to the $2,850 breakout level.

Solana Token Price Analysis

Solana (SOL) broke the overhead resistance of $210 on November 10th, indicating that bulls are trying to assert their supremacy.

If the price closes above $210, it means the next uptrend leg begins. The SOL/USDT pair could surge to $260, with sellers expected to put up a strong defense.

Conversely, if the price does not close above $210, it would be a sign that the market has refused to break out. The pair could fall as low as $189, which is an essential support level to keep an eye on in the near term. A decline below $189 could trigger a fall to the 20-day EMA ($178).

The pair bounced off the 20-EMA, indicating that bulls are buying on a slight dip. The uptrend pushed the price above the $210 resistance, paving the way for a rebound to $230 and eventually $260.

This positive view will be invalidated in the short term if the price declines and falls below the 20-EMA. The pair could then fall towards the 50-SMA, delaying the start of the next uptrend.

relevant: Bitcoin Price Reaches $80,000 for First Time — New ‘Inflation-Adjusted’ All-Time High

sui price analysis

Sui (SUI) buying accelerated after the price broke through stubborn indirect resistance at $2.37 on November 9th.

The bulls have pushed the price above $3, but the long wick of the candlestick shows selling at higher levels. If the price falls below $2.70, the bears will try to start a downtrend towards the $2.37 breakout level.

Contrary to this assumption, if the price stays near $3, it suggests that the bulls are maintaining their positions in anticipation of a further advance. If the SUI/USDT pair extends above $3.15, the next stop could be $4.

Looking at the 4-hour chart, we can see that the pair is facing a selloff above $3. The first support level on the downside is $2.70. If the price rebounds strongly from $2.70, it would be a sign that the bulls are not waiting for a big correction to buy. This could push the pair to $3.15 and later to $3.60.

Alternatively, if the price falls below $2.70, it represents profit booking for short-term traders. The pair may then fall towards the 20-EMA.

Aave Token Price Analysis

Aave (AAVE) gained momentum after breaking the moving average on November 6th and reached the psychological resistance of $200 on November 9th.

Bears will try to stop the uptrend at $200, but if the bulls don’t give sellers much ground, a breakout is more likely. If buyers break the $200 resistance, the AAVE/USDT pair could rise to $260.

Immediate support for the downside is $180. A drop below this level could accelerate selling, pushing the price towards the 20-day EMA ($160). A deep downtrend is likely to delay the start of the next uptrend.

The pair is expected to sell near $200, which could push the price down to the 20-EMA. If the price rebounds strongly from the 20-EMA, the bulls will make one more attempt to push the pair above $200. If they do so, the pair is likely to rise to $220.

Instead, when the price falls below the 20-EMA, it signals that short-term traders are taking profits. That could push the pair towards $175, followed by firm support at $165.