Bitcoin Near $110K Ceiling May Influence Potential Rallies in BNB, SOL, LINK, and AAVE

• Bitcoin’s recent resistance near $110,000 has triggered a market reset, potentially paving the way for altcoins like BNB, SOL, LINK, and AAVE to gain momentum.

• Despite Bitcoin’s pullback, technical indicators suggest that a bounce from key moving averages could reignite bullish sentiment across select cryptocurrencies.

• According to crypto analyst Daan Crypto Trades, maintaining support above $108,000 is critical to avoid a deeper correction, highlighting the delicate balance in the current market.

Bitcoin’s resistance near $110K triggers altcoin rally potential; BNB, SOL, LINK, and AAVE show promising technical setups amid cautious market sentiment.

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Bitcoin Faces Key Resistance at $110,000 Amid Market Uncertainty

Bitcoin (BTC) recently encountered significant resistance near the $110,000 mark, failing to close above this psychological ceiling. This rejection has led to profit-taking among short-term traders, pulling the price back toward $108,000. The BTC/USDT daily chart reveals sellers exerting pressure below the downtrend line, signaling a potential shift in momentum. However, the presence of strong support at the moving averages suggests that buyers remain vigilant. A decisive rebound from these levels could restore bullish confidence, potentially driving BTC toward its all-time high near $111,980 and further to the inverse head-and-shoulders neckline at $113,500. Conversely, a sustained drop below $108,000 may deepen the correction, testing critical support zones at $105,000 and $100,000. Market participants should closely monitor Bitcoin’s price action around these key technical levels to gauge the next directional move.

Technical Indicators Highlight Short-Term Market Dynamics

On the 4-hour chart, Bitcoin’s price has dipped to the 50-simple moving average (SMA), where bulls are attempting to halt the decline. The ability to break above the downtrend line would signal renewed buying interest and demand at lower levels. Should the bulls succeed in pushing BTC above $110,500, the path toward $113,500 becomes more attainable. However, failure to maintain support at the 50-SMA could indicate profit-booking pressures, increasing the risk of a deeper pullback. Traders are advised to watch these moving averages closely, as they represent pivotal battlegrounds between bullish and bearish forces in the near term.

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BNB Shows Signs of Recovery with Breakout Attempts Above Key Moving Averages

BNB has demonstrated resilience by rebounding off its breakout level and surpassing the 50-day SMA at $654. This movement indicates growing bullish momentum, although bears remain active in attempting to push the price below these averages. A successful defense of the moving averages could enable BNB to challenge resistance at $665, with potential upside targets at $675 and $698. Conversely, a breakdown below the moving averages would suggest a rejection of the breakout, possibly leading to a retest of lower support levels near $640. The 4-hour chart depicts a neutral stance, with flattening 20-EMA and RSI hovering near the midpoint, underscoring the need for a decisive move to establish clear directional bias.

Market Sentiment Hinges on BNB’s Ability to Sustain Above $665

For BNB to gain the upper hand, buyers must propel the price above $665, overcoming resistance and signaling strength. Achieving this would likely trigger further rallies toward $675 and $698. On the other hand, failure to hold above the moving averages could embolden sellers, increasing the probability of a decline to $640. Traders should monitor volume and momentum indicators for confirmation of either scenario.

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Solana’s Price Action Reflects Balance Between Bulls and Bears Near $159 Resistance

Solana (SOL) has struggled to break above the $159 resistance level, resulting in a pullback below the 20-day EMA at $148. The current technical setup, characterized by a flat 20-day EMA and RSI near the midpoint, indicates equilibrium between supply and demand. A decisive move above $159 would clear the path for a rally toward $168 and potentially $185. Conversely, a close below the 20-day SMA could signal bearish dominance, with support levels at $140 and $126 becoming critical to watch. The 4-hour chart further emphasizes the importance of the $145 support level, where a rebound could reignite bullish momentum and complete a bullish inverse head-and-shoulders pattern targeting $192.

Key Support Levels Will Determine Solana’s Short-Term Trajectory

Failure to defend the $145 support on the 4-hour timeframe may lead to a drop toward $137 and possibly $130, highlighting the importance of these levels for maintaining bullish structure. Conversely, a strong bounce from $145 would suggest buying interest on dips, potentially driving SOL back toward $159 and beyond. Market participants should watch these support zones closely to assess the sustainability of the current trend.

Chainlink Encounters Resistance at 50-Day SMA, Testing Support at $12.73

Chainlink (LINK) recently surpassed the 20-day EMA at $13.32 but failed to break through the 50-day SMA at $14.09, indicating selling pressure at higher levels. The price may retrace to the $12.73 support, a critical level for bulls to defend. A strong rebound from this point could enable LINK to challenge the 50-day SMA again, with potential targets at $15.66 and $18. However, a break below $12.73 would suggest bearish control, possibly leading to a decline toward $11. The 4-hour chart corroborates this outlook, showing the bears attempting to trap aggressive bulls near resistance, with $12.73 serving as a key battleground.

Support at $12.73 Crucial for Chainlink’s Near-Term Outlook

Buyers must defend $12.73 to prevent accelerated selling pressure. A recovery from this level could fuel another rally attempt above $14.10, potentially reaching $15.77. Conversely, failure to hold $12.73 may open the door for further downside toward $11.50. Traders should watch volume and momentum indicators for signs of either a reversal or continuation of the current trend.

Aave Maintains Uptrend but Faces Resistance at $286

Aave (AAVE) is currently contending with resistance at $286, yet the bulls have successfully prevented the price from falling below key moving averages. The upward sloping moving averages suggest a buyer advantage, though the RSI near the midpoint signals waning bullish momentum. A strong rebound from the moving averages could propel AAVE above $286, targeting $325. Conversely, a sustained decline below these averages would indicate weakening buyer control, with support levels at $240 and $220 becoming focal points. The 4-hour chart shows bears defending $286 aggressively, but a bounce off the uptrend line and a rise above the 20-EMA would confirm demand at lower levels and increase the likelihood of a rally to $295 and $310.

Critical Support Levels to Watch for Aave’s Stability

A break below the uptrend line would signal a loss of bullish grip, potentially triggering a sharp decline to $248 and, if breached, a further drop to $220. Traders should monitor these support zones carefully to evaluate the strength of the ongoing uptrend and adjust their positions accordingly.

Conclusion

Bitcoin’s inability to surpass the $110,000 resistance has introduced short-term volatility, yet key moving averages continue to offer vital support that could sustain the bullish narrative. Select altcoins such as BNB, SOL, LINK, and AAVE exhibit promising technical setups, with critical resistance and support levels shaping their near-term trajectories. Market participants should remain attentive to these pivotal price points and technical signals to navigate the evolving crypto landscape effectively. Maintaining a disciplined approach and monitoring momentum indicators will be essential for capitalizing on potential rallies while managing downside risks.