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 The sharp rebound in Bitcoin and select altcoins suggests that bulls remain in charge and continue to buy at lower levels.
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 Traders hate uncertainty; hence, the settlement between Binance, Changpeng “CZ” Zhao and the United States Department of Justice is likely to be viewed as a positive for the cryptocurrency space. Analysts largely remained positive on the deal, but a few sounded cautious due to the Securities and Exchange Commission’s pending lawsuit against Binance.
 Bitcoin (BTC) and several major altcoins fell sharply on Nov. 21 following the Binance news but are finding support at lower levels. This suggests that traders stepped in after the initial knee-jerk reaction, and are buying at lower levels. After the initial bounce, the bulls are likely to head into stiff opposition from the bears.
 <figure><img src="https://cdn.thebittimes.com/images/2023/11/23/fb747c7e8093eceb6097b447eb56181b.webp">
 <figcaption style="text-align: center;">Daily cryptocurrency market performance. Source: Coin360
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 Buying on dips and selling on rallies results in a range-bound action as both the bulls and the bears battle it out for supremacy. Generally, a consolidation near the 52-week high is considered a bullish sign, but traders should wait for an upside confirmation before jumping in to buy.
 Will Bitcoin and select altcoins remain stuck inside a range for the next few days? What are the important levels to watch out for?
 Let’s analyze the charts of the top 10 cryptocurrencies to find out.
 <h2 id="bitcoin-price-analysis">Bitcoin price analysis</h2>
 The bears pulled Bitcoin below the 20-day exponential moving average ($35,948) on Nov. 21 but could not sustain the lower levels. Strong buying by the bulls pushed the price back above the 20-day EMA on Nov. 22.
 <figure><img src="https://cdn.thebittimes.com/images/2023/11/23/3c55dd524cc229d774c8ce009cfa3a08.webp">
 <figcaption style="text-align: center;">BTC/USDT daily chart. Source: TradingView
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 The BTC/USDT pair has been consolidating between $34,800 and $38,000 for several days. This indicates a balance between supply and demand. A minor positive in favor of the bulls is that the 20-day EMA is sloping up, and the relative strength index (RSI) remains in the positive zone.
 If bulls propel the price above $38,000, the pair could start the next leg of the uptrend to $40,000. This level may act as a formidable resistance, but if cleared, the pair may soar to $48,000.
 On the contrary, if the price turns down and breaks below $34,800, it will suggest that the traders are rushing to the exit. That may open the doors for a further decline to $32,400.
 <h2 id="ether-price-analysis">Ether price analysis</h2>
 Ether (ETH) turned down from the resistance line on Nov. 20 and slipped below the 20-day EMA ($1,957) on Nov. 21.
 <figure><img src="https://cdn.thebittimes.com/images/2023/11/23/50b44dc19e7bc794fbb16b7e2d9acd1c.webp">
 <figcaption style="text-align: center;">ETH/USDT daily chart. Source: TradingView
 </figcaption>
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 However, the bulls had other plans. They aggressively purchased the drop below the 20-day EMA and are again trying to overcome the barrier at the resistance line. This remains a pivotal level to keep an eye on because a break above it could start a rally to $2,137 and then to $2,200.
 On the downside, $1,880 is a necessary support to watch out for. If this level fails to hold, the ETH/USDT pair may start a deeper correction to the 50-day simple moving average ($1,791). That could delay the start of the next leg of the up-move.
 <h2 id="bnb-price-analysis">BNB price analysis</h2>
 BNB (BNB) witnessed a wild ride on Nov. 21, with an intraday high of $272 and a low of $224. This indicates uncertainty about the next directional move between the bulls and the bears.
 <figure><img src="https://cdn.thebittimes.com/images/2023/11/23/26cc7b281e914dab9be6602e21b41855.webp">
 <figcaption style="text-align: center;">BNB/USDT daily chart. Source: TradingView
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 A minor positive is that the bulls did not allow the price to break below the major support at $223. That started a recovery on Nov. 22, and the bulls are trying to push the price back above the 20-day EMA ($240). If they succeed, it will signal that the BNB/USDT pair may consolidate between $223 and $265 for some time.
 Conversely, if the price fails to sustain above the 20-day EMA, it will suggest that bears are selling on rallies. That could again pull the price toward $223. A break below this support could extend the fall to $203.
 <h2 id="xrp-price-analysis">XRP price analysis</h2>
 XRP (XRP) turned down from the 20-day EMA ($0.61) on Nov. 20 and fell to the 50-day SMA ($0.57) on Nov. 21.
 <figure><img src="https://cdn.thebittimes.com/images/2023/11/23/e1d2370e2c012b21d057119e58b110a6.webp">
 <figcaption style="text-align: center;">XRP/USDT daily chart. Source: TradingView
 </figcaption>
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 The bulls are expected to defend the support at $0.56 because a failure to do so may result in a drop toward $0.46. The slightly downsloping 20-day EMA and the RSI just below the midpoint indicate a minor advantage to the bears.
 If the price breaks above the 20-day EMA, it will suggest strong buying at lower levels. That will signal a possible range-bound action between $0.56 and $0.74 for a few days. The bulls will be back in the driver’s seat after the XRP/USDT pair rises above $0.74.
 <h2 id="solana-price-analysis">Solana price analysis</h2>
 Solana (SOL) climbed above the critical overhead resistance of $0.59 on Nov. 19, but the bulls could not build upon this strength. The bears pulled the price back below $0.59 on Nov. 20.
 <figure><img src="https://cdn.thebittimes.com/images/2023/11/23/b88b7232dbf9fe1411226b54ea2c16ba.webp">
 <figcaption style="text-align: center;">SOL/USDT daily chart. Source: TradingView
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 The SOL/USDT pair snapped back from the 20-day EMA ($51) on Nov. 22, indicating that the bulls are vigorously protecting the level. Buyers will again try to overcome the obstacle at $59 and challenge the local high at $68.
 On the contrary, if the price once again turns down from $59, it will suggest that bears remain active at higher levels. Sellers will then again attempt to sink the price below the vital support at $48. If this level gives way, the pair may nosedive to the 50-day SMA ($37).
 <h2 id="cardano-price-analysis">Cardano price analysis</h2>
 Repeated failures of the bulls to maintain Cardano (ADA) above the breakout level of $0.38 started a correction on Nov. 21.
 <figure><img src="https://cdn.thebittimes.com/images/2023/11/23/803df943b735cecad90c9309eb0e718f.webp">
 <figcaption style="text-align: center;">ADA/USDT daily chart. Source: TradingView
 </figcaption>
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 The price reached the 20-day EMA ($0.35), which is acting as a strong support. The sharp rebound off this level suggests robust buying by the bulls. It also increases the likelihood of a break above $0.39. If this level is scaled, the ADA/USDT pair could increase to $0.46.
 If bears want to prevent the rally, they will have to quickly drag the price below the 20-day EMA. There is a minor support at $0.34, but if it cracks, the pair may slide to the 50-day SMA ($0.30).
 <h2 id="dogecoin-price-analysis">Dogecoin price analysis</h2>
 Dogecoin (DOGE) plunged below the 20-day EMA ($0.07) on Nov. 21, but the bears are struggling to sustain the lower levels.
 <figure><img src="https://cdn.thebittimes.com/images/2023/11/23/268cef2b78f351b06df80b6d91c53d7f.webp">
 <figcaption style="text-align: center;">DOGE/USDT daily chart. Source: TradingView
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 The bulls are trying to push the DOGE/USDT pair back above the 20-day EMA. If they can pull it off, it will suggest aggressive buying on dips. The bulls will then make one more attempt to clear the overhead hurdle at $0.08 and start the march toward $0.10.
 Alternatively, the bears will try to sell the rallies and keep the price pinned below the 20-day EMA. That could open the doors for a potential drop to the 50-day SMA ($0.07) and eventually to the crucial support at $0.06.
 Related: BTC price bounces 3% post Binance amid call for Bitcoin bulls to ‘step in’
 <h2 id="toncoin-price-analysis">Toncoin price analysis</h2>
 Toncoin (TON) has been finding support at the 50-day SMA ($2.19), indicating that the sentiment remains positive and traders are buying on dips.
 <figure><img src="https://cdn.thebittimes.com/images/2023/11/23/03b74f10e6903b68459aae2f66737dae.webp">
 <figcaption style="text-align: center;">TON/USDT daily chart. Source: TradingView
 </figcaption>
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 Both moving averages remain flattish, and the RSI is just above the midpoint, indicating a range-bound action in the short term. If the price maintains above $2.40, the TON/USDT pair may rise to $2.59.
 Contrary to this assumption, if the price turns down and breaks below the 20-day EMA, the pair could test the support at the 50-day SMA. If this support cracks, the pair may start a downward move to $2 and subsequently to $1.89.
 <h2 id="chainlink-price-analysis">Chainlink price analysis</h2>
 Chainlink (LINK) turned down from the immediate resistance of $15.39 on Nov. 20 and fell below the 20-day EMA ($13.63) on Nov. 21.
 <figure><img src="https://cdn.thebittimes.com/images/2023/11/23/d344ca10d7ead5040bcf15a12f3d4e1d.webp">
 <figcaption style="text-align: center;">LINK/USDT daily chart. Source: TradingView
 </figcaption>
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 The LINK/USDT pair rebounded back above the 20-day EMA on Nov. 22, indicating demand at lower levels. Buyers will once again try to propel the price above $15.39 and retest the overhead resistance at $16.60.
 Meanwhile, the bears are likely to have other plans. They will try to defend the $15.39 level and pull the price below the 61.8% Fibonacci retracement level of $12.83. If they do that, the pair may plummet to the 50-day SMA ($10.94).
 <h2 id="avalanche-price-analysis">Avalanche price analysis</h2>
 Avalanche (AVAX) closed above the $10.52 to $22 range on Nov. 19, but the bulls could not maintain the higher levels. The bears pulled the price back below the breakout level on Nov. 20.
 <figure><img src="https://cdn.thebittimes.com/images/2023/11/23/8ed8b99786a907a45174cd2f700fe2af.webp">
 <figcaption style="text-align: center;">AVAX/USDT daily chart. Source: TradingView
 </figcaption>
 </figure>
 The 20-day EMA ($17.71) is sloping up, and the RSI is in the positive territory, indicating that the bulls have the upper hand. Buyers will again try to propel the price above $22, and if they are successful, it will suggest the start of a new up-move. The AVAX/USDT pair could then start its journey toward $30.
 Contrarily, if the price turns down from $22, it will indicate that the bears are vigorously protecting the level. That will increase the possibility of a break below the 20-day EMA. If that happens, the pair may remain stuck inside the large range for a while longer.
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 This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
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Price analysis 11/22: BTC, ETH, BNB, XRP, SOL, ADA, DOGE, TON, LINK, AVAX

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