Bitcoin’s Surge to $81,000 May Spark a Rally in ETH, SOL, and SUI

Bitcoin’s recent climb above $81,000 on November 10 has energized the crypto market, sparking speculation among analysts about its potential for further gains. Renowned analyst Tuur Demeester suggested on X that holding onto Bitcoin without overreacting may yield rewards, as “HODLing does the work for you.”

Some new investors may worry that Bitcoin’s rapid rise is pushing it into overvalued territory. However, Bitwise CEO Hunter Horsley argues that Bitcoin’s price rise often fuels further gains as confidence grows. “When Bitcoin’s price goes up, people view it as more likely that it will succeed, and therefore be even more valuable,” he explained, predicting continued growth.

Beyond Bitcoin, several altcoins are also seeing a boost in investor sentiment, breaking through resistance levels. However, popular commentator WhalePanda warned that weekend rallies driven by low liquidity can often see a “full retrace.” Will Bitcoin’s momentum hold, bringing other cryptocurrencies along for the ride? Let’s dive into the charts of the top cryptocurrencies to find out.

Bitcoin Price Analysis

Bitcoin bulls have held firm, driving another rally on November 10 that sent the price above $81,000. The breakout from the $54,000 to $73,777 range hints at a possible target of $93,554. This level may pose resistance, yet buyers may push Bitcoin toward the critical $100,000 mark.

For the bears to regain control, they need to force Bitcoin’s price below the 20-day exponential moving average (EMA) of $71,753. Falling below this level could trigger a wave of long liquidations, potentially driving the BTC/USDT pair down to the 50-day simple moving average (SMA) at $66,864.

On the 4-hour chart, Bitcoin bounced off the 20-EMA, a key support level in the short term. If the bulls defend this support, Bitcoin could rally toward $93,554. However, a break below the 20-EMA would signal fading bullish momentum, possibly pushing the pair down to $75,500 or the breakout level of $73,777.

Ether Price Analysis

Ether surged after rebounding off the symmetrical triangle pattern’s support line on November 6. The breakout above $2,850 could pave the way for a move up to the downtrend line. Sellers are likely to defend this resistance, as a break could propel Ether toward $4,094.

The $2,850 level is critical support. A bounce from here would indicate strong buying interest on dips. However, a drop below $2,850 could shift the advantage to the bears.

The sharp rally has pushed Ether’s relative strength index (RSI) into overbought territory on the 4-hour chart, suggesting a short-term pullback could be on the horizon. The 20-EMA remains the first key support. A strong rebound from this level could help the bulls aim for $3,500. If the price slips below the 20-EMA, it would suggest that traders are taking profits, with the potential for a retreat to the breakout level of $2,850.

Solana Price Analysis

Solana broke through its $210 resistance on November 10, indicating that bulls are seeking to establish a stronger uptrend. If the price holds above $210, the next target for SOL/USDT could be $260, where sellers may try to stall the uptrend.

However, if Solana fails to close above $210, it could signal a rejection, leading the pair down to $189, a critical support level. A break below $189 could bring the pair down to the 20-day EMA of $178.

The recent rebound off the 20-EMA shows that bulls are buying on dips, pushing the price above the $210 resistance. This clears the way for a potential rise to $230 and eventually $260. The bullish view will be negated in the short term if Solana turns down and breaks below the 20-EMA, potentially dropping to the 50-SMA and delaying the uptrend.

Sui Price Analysis

Sui experienced a surge in buying interest after breaking above the key $2.37 resistance on November 9, briefly pushing the price above $3. The long wick on the candlestick, however, suggests profit-taking at higher levels. A dip below $2.70 could prompt a pullback to $2.37, the recent breakout level.

If Sui’s price remains around $3, it would indicate that bulls expect further gains. A move above $3.15 could take the SUI/USDT pair to $4.

The 4-hour chart reveals that Sui is encountering selling pressure above $3. Support lies at $2.70, and a strong bounce from this level would indicate continued buying interest. This could push the price toward $3.15 and, later, $3.60. Conversely, a drop below $2.70 would signal profit-taking by short-term traders, potentially leading the price down to the 20-EMA.

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