SOL, AVAX, SUI, and NEAR Rally as Bitcoin Holds Above $90K

Bitcoin’s recent price action above $85,000 is fueling optimism across the broader cryptocurrency market, with altcoins like Solana (SOL), Avalanche (AVAX), Sui (SUI), and NEAR Protocol showing strong technical signals. Bitcoin has surged over 12.5% this week, continuing its uptrend despite attempts from bears to trigger a pullback on November 14. As Bitcoin trades near its all-time high, the market is eyeing a potential breakout above $90,000.

CryptoQuant contributor Darkfost highlighted that Bitcoin whales are still active in the market, continuing to buy even at current levels, which signals confidence in the market’s future prospects. However, traders are advised to be cautious, as profit-taking could occur if Bitcoin fails to break its all-time high and establish a new price ceiling.

Bitcoin Price Analysis

Bitcoin is facing resistance in the $92,000–$93,265 range, but a positive sign is that the bulls are maintaining their position. If Bitcoin manages to break above this zone, it could target the psychological $100,000 level, with a further potential surge to $113,331. However, if the bears manage to push Bitcoin below the key $85,000 support, the price could pull back to the 20-day exponential moving average (EMA) at $80,791, bringing the bears back into play.

The 4-hour chart shows a symmetrical triangle formation, indicating indecision between the bulls and bears. A breakout above the triangle would signal that the bulls have taken control, potentially driving Bitcoin towards $100,000. Conversely, if the price breaks below the triangle, profit-taking could push Bitcoin back toward the $85,000 support.

Solana (SOL) Price Analysis

Solana (SOL) buyers successfully defended a retest of the breakout level around $210, suggesting strong bullish sentiment. On November 17, the price surged above $225, signaling the start of a new uptrend. The next key resistance is near $242, but if the bulls break through this level, SOL could rise toward $260, with further resistance at $304.

A short-term bearish scenario would occur if SOL falls below the 20-day EMA at $198. This would signal rejection at higher levels and could lead to a pullback to $210, which is the key support level to watch.

Avalanche (AVAX) Price Analysis

Avalanche (AVAX) bounced off the 20-day EMA at $30.60 on November 15 and reached the upper resistance of its ascending channel by November 17. The rising 20-day EMA and an RSI near overbought levels suggest the potential for an upside breakout. If successful, AVAX could target $41.80 and then $50.

However, if AVAX fails to sustain above the channel resistance, the price could drop back to the 20-day EMA, with a further risk of a pullback to $31. On the 4-hour chart, if AVAX breaks above the channel resistance, it could continue its rally to $41.80. A move below the 20-day EMA would suggest the bears are attempting a comeback.

Sui (SUI) Price Analysis

Sui (SUI) has been on a strong rally since breaking out of $2.37 on November 9, with the bulls continuing to buy on dips. The next target for the SUI/USDT pair is $4, where the bears may attempt to stall the rally. If the bulls push through this resistance, SUI could rise to $4.25 and then to $4.70.

The 20-day EMA at $2.86 is a critical support level. A drop below this level would signal that the bullish momentum is fading, with a potential drop back to $2.37.

NEAR Protocol (NEAR) Price Analysis

NEAR Protocol (NEAR) gained momentum after breaking above the 50-day SMA at $4.71 on November 11, suggesting a trend reversal. The price is now testing resistance at $6.50, which is a crucial level to watch. The rising 20-day EMA at $4.96 and the RSI in overbought territory indicate that the path of least resistance is upward. If NEAR breaks above $6.50, it could target $7.70 and eventually $8.58.

If the price turns down sharply from the current level, a break below the 20-day EMA would suggest consolidation in a large range between $6.50 and $3.42. The negative divergence on the RSI may also indicate that bullish momentum is slowing, so traders should monitor these levels closely.

Conclusion

Bitcoin’s sustained strength above $85,000 is supporting bullish sentiment across altcoins like SOL, AVAX, SUI, and NEAR. However, traders should remain cautious as profit-taking could set in if Bitcoin fails to establish a new all-time high. Monitoring key support and resistance levels in both Bitcoin and altcoins will be crucial for determining the next moves in this volatile market.