Price analysis 11/3: BTC, ETH, BNB, XRP, SOL, ADA, DOGE, TON, LINK, MATIC

cointelegraph.com:

Bitcoin (BTC) soared above $35,000 on Nov. 2 and that may have sucked in the aggressive bulls who speculated that the next leg of the up-move was beginning. However, the price quickly turned around and fell back below $35,000 signaling that the breakout may have been a fake move.

A mild correction during an uptrend does not signal a trend change. It is generally a healthy sign as it shakes out weak hands. When markets are trending higher, dips are viewed as a buying opportunity, but it is better to wait for the price to find a bottom before buying. Strong support levels could be watched as potential places where buyers step in to arrest the decline.

MicroStrategy founder and executive chairman Michael Saylor said in an interview with CNBC that if traders hold a 12-month to 48-month time horizon, the current level is “a pretty ideal entry point into the asset.”

Bitcoin’s weakness has pulled several altcoins lower. What are the important support levels where the decline could end?

Let’s analyze the charts of the top 10 cryptocurrencies to find out.

Bitcoin surged above $35,280 on Nov. 1 and tried to build upon this rally on Nov. 2 but the bears had other plans. Sellers stalled the up-move at $35,985 and are trying to sustain the price below $35,000.

If they do that, the BTC/USDT pair may skid to $33,390. This is an important level for the bulls to defend because if $33,390 cracks, the pair may fall to the 20-day exponential moving average ($32,611).

Generally, in an uptrend, the bulls fiercely defend the 20-day EMA. If the level holds, it will indicate that the trend remains positive. The bulls will then make one more attempt to kick the price to $40,000.

A break and close below the 20-day EMA will be the first sign that the bulls