Bitcoin (BTC<\/a>) 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.<\/p>\n 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.<\/p>\n 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<\/a>, the current level is \u201ca pretty ideal entry point into the asset.\u201d<\/p>\n Bitcoin\u2019s weakness has pulled several altcoins lower. What are the important support levels where the decline could end?<\/p>\n Let\u2019s analyze the charts of the top 10 cryptocurrencies to find out.<\/p>\n 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.<\/p>\n 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).<\/p>\n 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.<\/p>\n 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.<\/p>\n The bulls nudged Ether (ETH<\/a>) 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.<\/p>\n 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\u2019s seat.<\/p>\n 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. <\/p>\n BNB (BNB<\/a>) bounced off the breakout level of $223 on Nov. 1, indicating that the bulls are fiercely defending this level.<\/p>\n 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.<\/p>\n 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. <\/p>\n XRP (XRP<\/a>) is facing resistance near $0.61 but a positive sign is that the bulls have not lost ground to the bears.<\/p>\n 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.<\/p>\n 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).<\/p>\n Solana (SOL<\/a>) climbed above $38.79 on Nov. 1 and reached near the target objective at $48 but the long wick on the day\u2019s candlestick shows that traders aggressively booked profits at this level.<\/p>\n 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. <\/p>\n 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.<\/p>\n 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.<\/p>\n Cardano (ADA<\/a>) 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.<\/p>\n 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.<\/p>\n 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).<\/p>\n Dogecoin (DOGE<\/a>) rebounded off the 20-day EMA ($0.06) on Nov. 1 but the bulls could not sustain the higher levels. <\/p>\n 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.<\/p>\n 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.<\/p>\n Related: <\/em><\/strong>Bitcoin disappoints while Markets Pro delivers 88% gains in 29 hours<\/em><\/strong><\/a><\/p>\n 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.<\/p>\n 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.<\/p>\n 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.<\/p>\n Chainlink (LINK<\/a>) has been facing resistance near $11.50, indicating that the bears have not given up and continue to sell on rallies.<\/p>\n 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.<\/p>\n 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.<\/p>\n Polygon (MATIC<\/a>) has been moving up gradually but the rally lacks momentum. This shows hesitation among the bulls to continue buying at higher levels.<\/p>\n 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.<\/p>\n 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.<\/p>\n![](\"https:\/\/s3.cointelegraph.com\/uploads\/2023-11\/47a40723-d115-46f4-946e-fe637e497f7d.png\"\/)
Bitcoin price analysis<\/h2>\n
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Ether price analysis<\/h2>\n
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BNB price analysis<\/h2>\n
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XRP price analysis<\/h2>\n
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Solana price analysis<\/h2>\n
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Cardano price analysis<\/h2>\n
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Dogecoin price analysis<\/h2>\n
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Toncoin price analysis<\/h2>\n
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Chainlink price analysis<\/h2>\n
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Polygon price analysis<\/h2>\n
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