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Bitcoin’s rise to $81,000 may trigger rally in ETH, SOL, SUI, AAVE
- Bitcoin has surged to above $81,000 on Nov. 10. Several altcoins have also started to show an increasing trend in sentiment after breaking out of their respective resistance levels. If Bitcoin maintains its upward momentum, investor sentiment could improve, pushing other cryptocurrencies like Ethereum (ETH), Solana (SOL), SushiSwap (SUI) and Aave (AAVE) higher.
- According to Bitcoin analyst Tuur Demeester, HODLing is the way forward in the current scenario. Bitwise Invest CEO, Hunter Horsley said, when Bitcoin’s price goes up, people view it as more likely that it will succeed, and therefore be even more valuable. So, it’s likely to go up even further.
- If the bears want to make a comeback in the short-term, they will have to pull the BTC/USDT pair below $71,753. This could trigger long liquidation, pulling the pair towards $66,864. For Ethereum, the critical support to watch for is $2,850, while $2,189 is essential support to watch for on SushiSwap.
- For Solana, closing above $210 indicates the start of the next leg of the uptrend, potentially aimed at $260. While for Aave, breaking past $200 could indicate a rally to $260. However, a slide below immediate support levels could indicate bearish sentiment.
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