Solana, Avalanche, Suisei, and Near Advance as Bitcoin Prices Remain Above $90,000 Mark

Bitcoin (BTC) has been on the rise, rallying over 12.5% in the past week. Despite the bears’ attempts to start a pullback on November 14, the bulls have held their ground, keeping the price trading near the all-time high.

Market Sentiment and Bitcoin Whales

In a market update, Darkfost from CryptoQuant contributor noted that "Bitcoin whales have not stopped buying even with the price around $90,000, and ‘most are holding, which is a sign of confidence in the market."

This bullish sentiment has spilled over into other cryptocurrencies, causing several altcoins to rise. However, traders should be cautious as profit-booking may set in if Bitcoin fails to hit and maintain a new all-time high.

Supporting Indicators

Several indicators suggest that the bulls are still in control:

• The price remains above the 50-day Simple Moving Average (SMA) on the daily chart.
• The Relative Strength Index (RSI) is in the overbought zone, indicating a strong bullish momentum.
• The Moving Average Convergence Divergence (MACD) histogram is rising, suggesting that the bulls are gaining strength.

Technical Analysis

The price action has been bullish since breaking out of the $45.91 resistance level on November 9. The SUI/USDT pair could rally to $4, where the bears will try to halt the uptrend. However, if the bulls prevail, the pair could surge to $4.25 and later to $4.70.

Supporting Levels

• The 20-day EMA ($2.86) is a crucial support level on the downside.
• A break and close below this level will signal that the bulls are losing their grip, causing the pair to sink to $2.37.

Potential Targets

• If buyers thrust the price above $3.93, the pair could rally to $4 and subsequently to $4.40.
• Conversely, if the price turns down and breaks below the 20-EMA, it will signal that the bulls are hurrying to book profits, causing the pair to drop to the 50-SMA and below that to the solid support at $2.80.

Other Cryptoassets

Several other cryptoassets have been showing bullish signs:

• NEAR Protocol (NEAR): The NEAR/USDT pair has reached the overhead resistance of $6.50, a crucial near-term level to watch out for.
• Sui (SUI): Sui has rallied vertically since breaking out of $2.37 on November 9, signaling that the bulls are in control.

Conclusion

Bitcoin continues its upward momentum, with several supporting indicators and technical analysis suggesting that the bulls remain in control. However, traders should be cautious as profit-booking may set in if Bitcoin fails to hit and maintain a new all-time high.