Technical Analysis on November 29: BTC, ETH, XRP, BNB, SOL, DOGE, ADA, HYPE, BCH, LINK

Bitcoin (BTC) has bounced back above the 93,000 USD threshold in trading on Friday, but the bulls are still struggling to defend the high price zones. The largest electronic money in the market is still at risk of closing out November in the red. Statistics from CoinGlass show that in the past, each time BTC ended November with a fall, December also recorded negative movements.

Despite the pressure of adjustment, some experts believe this could be an accumulation opportunity for long-term investors. In an exchange with Cointelegraph, Mr. Nick Ruck – Director of Research at LVRG – stated that the recent decline has filtered out most of the positions using excessive leverage as well as projects lacking sustainable foundations, thereby creating a premise for new capital to participate in “taking advantage of a promising new year.”

Sharing an optimistic view, the market sentiment analysis platform Santiment in a report released on Wednesday stated that the increasing remarks about a “bear market”, along with the spread of pessimistic sentiment, often serve as a positive signal. According to Santiment, the cryptocurrency market tends to move contrary to the expectations of the crowd.

In this context, what are the key resistance zones that Bitcoin and major altcoins need to conquer in the near future? Let's analyze the charts of the Top 10 Electronic Money to find the answer.

BTC Technical Analysis

The recovery of BTC has approached the 20-day exponential moving average (EMA) at $93,256, where bulls are expected to face significant resistance from bears.

Daily BTC/USDT Chart | Source: TradingViewIf the price sharply reverses down from the 20-day EMA, the bears will continue to try to pull the BTC/USDT pair below the support zone of $84,000 – $80,600. If this scenario occurs, the price of Bitcoin could plummet to $73,777.

On the contrary, if the bulls do not give up much advantage to the bears at the 20-day EMA line, it indicates that buyers are still holding their positions. In that case, the likelihood of breaking above the 20-day EMA line will increase, and the currency pair could surge strongly towards the psychological level of $100,000.

Technical Analysis of ETH

Ether (ETH) has reached the 20-day EMA at $3,109, an area that is likely to attract strong selling pressure from the bears.

ETH/USDT daily chart | Source: TradingViewIf the price sharply bounces back from the 20-day EMA line, the ETH/USDT pair may weaken to $2,623. Bulls are expected to fiercely defend the support level of $2,623, as if this level is broken, the price of Ether could drop to $2,400.

On the contrary, if the closing price is above the 20-day EMA line, it indicates that the selling pressure is weakening. In that case, the currency pair may bounce back to the breakout zone of $3,350 and then head towards the 50-day SMA at $3,541.

Technical Analysis of XRP

XRP is witnessing a fierce tug-of-war between buyers and sellers around the 20-day EMA at $2.20.

XRP/USDT daily chart | Source: TradingViewThe 20-day EMA is flat and the RSI is just below the neutral level, indicating that neither side has a clear advantage. If the 50-day SMA at $2.34 is conquered, the XRP/USDT pair could rise to the downtrend line.

On the contrary, if the price reverses and breaks down below $2.14, it indicates that the bulls have surrendered. At that point, the price of XRP may slide back to the support zone, which is likely to attract buying pressure again.

Technical Analysis of BNB

BNB has surpassed the breaking level of $860 on Monday and is now approaching the 20-day EMA at $910, indicating that buying pressure is appearing in lower price zones.

Daily BNB/USDT Chart | Source: TradingViewIf the closing price is above the 20-day EMA, it indicates that the bears are gradually losing control. The BNB/USDT pair could then rise to the 50-day SMA at $1.019, which is an important zone that the bears will try to defend.

In the downward direction, if the price breaks below $860, it indicates that the bears are still in control. This scenario increases the risk of piercing the $790 mark, which could cause the price of BNB to plummet to $730.

Technical Analysis of SOL

The bounce back rhythm of Solana (SOL) has hit a “wall” at the 20-day EMA line at $144, but the bulls have not yet ceded much advantage to the bears.

SOL/USDT daily chart | Source: TradingViewThis increases the likelihood of the price breaking above the 20-day EMA. At that point, the SOL/USDT pair could advance towards the 50-day SMA at $167, where the bears will continue to look for ways to halt the bounce back. However, if buyers can overcome the barrier at the 50-day SMA, the price may continue towards the $190 mark.

The bears will have to pull the price of Solana down below the support zone $126 to regain control. If successful, the currency pair could fall to $110 and finally to the strong support zone at $95.

Technical Analysis of DOGE

The bounce back of Dogecoin (DOGE) is facing selling pressure at the 20-day EMA line at $0.16, indicating that the bears are still actively operating in high price zones.

Daily DOGE/USDT chart | Source: TradingViewBears will attempt to pull Dogecoin's price below the key support zone at $0.14. If this happens, the DOGE/USDT pair may enter a new downtrend and plummet to the bottom on October 10 at $0.10.

In the opposite scenario, if the price bounces back and rises above the moving averages, it indicates that the bulls are fiercely defending the support level of $0.14. At that point, the currency pair could rise to $0.21, suggesting that the price is likely to continue fluctuating within the range of $0.14 – $0.29 for some time longer.

Technical Analysis of ADA

The price of Cardano (ADA) is struggling to reach the 20-day EMA of (0.47 USD), indicating that demand from the bulls is still weak.

Daily chart of ADA/USDT | Source: TradingViewSellers will seek to consolidate their position by pulling the price of Cardano below the 0.38 USD mark. If this happens, the ADA/USDT pair may continue its downtrend and retest the panic bottom of 0.27 USD on October 10.

To signal strength, the bulls must push and maintain the price above the breakout zone of 0.50 USD. At that point, the pair could rise to the 50-day SMA of (0.56 USD) and then head towards the 0.70 USD mark.

Technical Analysis of HYPE

The bear faction is trying to curb the bounce back of Hyperliquid (HYPE) at the 20-day EMA (36.54 USD), however, the bull faction continues to maintain pressure.

Daily HYPE/USDT Chart | Source: TradingViewIf the price breaks above the 20-day EMA, the HYPE/USDT pair may advance towards the 50-day SMA (39.12 USD). Bears are expected to defend aggressively at the 50-day SMA, but if the bulls prevail, the price of Hyperliquid could surge to 44 USD and then to 51.50 USD.

This bullish scenario will be invalidated in the short term if the price turns around and falls from the moving averages and breaks the 29.30 USD level. At that point, the door will open for a decline to the bottom on October 10 at 20.82 USD.

Technical Analysis of BCH

The bulls have succeeded in maintaining the price of Bitcoin Cash (BCH) at the resistance level, indicating that buying pressure has emerged as the price adjusts.

BCH/USDT daily chart | Source: TradingViewThe 20-day EMA (523 USD) has started to trend upwards, while the RSI is above the neutral threshold, indicating that the advantage is slightly leaning towards the bulls. To initiate a new upward movement, the bulls need to push the price of Bitcoin Cash above the 568 USD mark, thereby opening the momentum to 580 USD and then to 606 USD.

In contrast to the above scenario, if the price turns around and falls below the moving averages, it indicates that the market has rejected the breakout from the falling wedge (. At that point, the bears will seek to pull the BCH/USDT pair down to the important support zone at 443 USD.

Technical Analysis of LINK

The price of Chainlink )LINK( is under selling pressure near the 20-day EMA of )13.84 USD(, however a positive signal is that the bulls have not ceded much advantage to the bears.

![])https://img-cdn.gateio.im/webp-social/moments-1731f50d910e0b57aa3b5d17c7c55981.webp(LINK/USDT daily chart | Source: TradingViewThis increases the likelihood of the price breaking above the 20-day EMA. At that point, the LINK/USDT pair could climb to the 50-day SMA )15.87 USD(, where bears are expected to pose a significant challenge. A break and close above the 50-day SMA would bring the large range zone from 10.94 USD to 27 USD into focus.

The bear faction is likely still considering other strategies. They will try to defend at the 20-day EMA and pull the price of Chainlink back to the solid support zone around 10.94 USD.

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