Technical analysis on November 22: BTC, ETH, XRP, BNB, SOL, DOGE, ADA, HYPE, ZEC, BCH

Bitcoin (BTC) made efforts to recover during Friday’s trading session, but the bears maintained strong pressure, at one point dragging the price down to nearly $80,000 on Binance. Market sentiment remains gloomy as U.S. stocks extended their correction last week, reflecting growing concerns about the excessive valuation of artificial intelligence stocks. At the same time, expectations that the U.S. Federal Reserve (Fed) will cut interest rates in December have plunged, from 98.1% on October 21 to just 33.1%, according to CME FedWatch Tool data.

Against this backdrop, the biggest question investors are asking: How much further will BTC fall?

According to André Dragosch, Head of Research for Europe at Bitwise, Bitcoin is likely approaching a bottoming zone, lying between the IBIT fund cost basis from BlackRock at $84,000 and the Strategy cost basis around $73,000.

Some analysts even view the current decline as a positive sign. Veteran trader Peter Brandt believes that this correction is “the best thing” that could happen to Bitcoin. He remains strongly bullish in the long term and forecasts that BTC could reach $200,000 around Q3 2029.

So what are the key resistance and support zones that investors should watch for BTC and other major altcoins? Let’s analyze the charts of the top 10 cryptocurrencies to find the answer.

BTC Technical Analysis

BTC has broken through a series of short-term support zones and dropped to $80,600, showing aggressive selling by the bears.

BiBTC/USDT daily chart | Source: TradingViewThe next strong support lies in the $73,777 zone. Buyers are expected to defend this level at all costs, because if $73,777 is lost, the market could open up to a deeper drop toward $53,500.

Typically, sharp corrections are followed by corresponding rebounds. The RSI is in oversold territory, indicating the possibility of a short-term technical rebound. This could send the BTC/USDT pair up to the 20-day EMA ($97,319), where the bears are likely to apply strong pressure.

ETH Technical Analysis

Ether closed below the $3,000 mark on Thursday, opening the way for a deeper drop toward $2,500.

BiETH/USDT daily chart | Source: TradingViewThis decline has pushed the RSI into oversold territory, suggesting a potential rebound. If ETH recovers from the current region or bounces from $2,500, the ETH/USDT pair could rise back to the breakout zone at $3,350.

Conversely, if the rebound from $2,500 is too weak, it signals waning buying demand, increasing the risk of a continued downtrend. In that case, the price could fall to the $2,111 region.

XRP Technical Analysis

XRP slipped below the support line of its descending channel on Friday, indicating that bears are in control.

BiXRP/USDT daily chart | Source: TradingViewIf the price closes below the support line, the XRP/USDT pair could drop to the $1.61 level. This is a zone where strong buying is expected to emerge, as a break below this level could trigger a new downtrend, pushing the price to $1.27 and further down to $1.

On the upside, the area between the 50-day SMA ($2.45) and the descending trendline is an important resistance. Buyers need to push the price above the descending trendline for a reversal signal to be confirmed.

BNB Technical Analysis

BNB remains under heavy pressure as bears attempt to keep the price below the $860 support zone.

BiBNB/USDT daily chart | Source: TradingViewIf the price closes below $860, selling pressure could increase, dragging BNB down to $818 and then $730. The strong decline in recent days has pushed the RSI into oversold territory, indicating the possibility of a technical rebound.

However, any recovery attempt will likely face selling pressure at the $860 zone and then at the 20-day EMA ($946). If the price reverses from this area, the bears may try to push the BNB/USDT pair down to $625.

The first positive signal will appear if the price closes above the 20-day EMA, opening up the possibility of a recovery to $1,019 and further to the 50-day SMA ($1,069).

SOL Technical Analysis

The bulls tried to spark a recovery for Solana on Thursday, but the long upper wick indicates the bears are still active at higher prices.

BiSOL/USDT daily chart | Source: TradingViewThe bears are trying to strengthen their position by keeping the price below the $126 support. If successful, selling pressure could increase and the SOL/USDT pair could fall to $110 and further to $95.

On the upside, the 20-day EMA ($150) remains a key short-term resistance. Buyers need to push the price above the 20-day EMA to confirm a sustainable recovery toward the 50-day SMA ($179).

DOGE Technical Analysis

Dogecoin (DOGE) has reached the bottom of the $0.14–0.29 trading range, where buying interest is expected to appear.

BiDOGE/USDT daily chart | Source: TradingViewThe bulls need to push Dogecoin’s price above the 20-day EMA ($0.16) to signal strength. If so, the DOGE/USDT pair could move up to the 50-day SMA and higher to the $0.21 level. This would suggest the pair could continue consolidating in a wide range for some time.

Conversely, if the price breaks and closes below $0.14, it means the bears have overpowered the bulls. In that case, the pair could start a new downtrend toward the October 10 low at $0.10.

ADA Technical Analysis

Cardano (ADA) continues to plunge and has reached the first support level at $0.40, reflecting that the bears are in control.

BiADA/USDT daily chart | Source: TradingViewThe sharp decline has pulled the RSI into oversold territory, suggesting a recovery may be imminent. However, the rebound is expected to face selling pressure at the breakdown zone of $0.50. If Cardano’s price reverses from $0.50, it indicates the bears have flipped this zone into resistance — increasing the risk of a deeper drop toward $0.27.

Conversely, if buying power pushes the price above the 20-day EMA ($0.51), this signals the bears are losing their advantage. In that case, the ADA/USDT pair could rise to the 50-day SMA ($0.62).

HYPE Technical Analysis

Hyperliquid (HYPE) tried to break above the 20-day EMA ($39.04) on Thursday, but the bears held their ground.

BiHYPE/USDT daily chart | Source: TradingViewSelling pressure increased, pushing the price below the $35.50 support during Friday’s session. If the price closes below $35.50, the HYPE/USDT pair could enter a new downtrend toward $28 and then $24.

To invalidate this negative signal, the bulls need to quickly push the price back above $35.50. The advantage will shift to the bulls if they can drive Hyperliquid’s price above the 50-day SMA ($40.98).

ZEC Technical Analysis

Zcash (ZEC) bounced from the 20-day EMA ($559) on Tuesday, but the recovery momentum is facing strong selling around $750.

BiZEC/USDT daily chart | Source: TradingViewNegative divergence on the RSI shows that upward momentum is weakening. The bears will try to pull Zcash’s price below the 20-day EMA. If successful, the ZEC/USDT pair could correct down to $424.

Conversely, the bulls need to defend the 20-day EMA to maintain the advantage. A close above the $750 resistance could spark the next rally, aiming for the psychological level of $1,000.

BCH Technical Analysis

Bitcoin Cash (BCH) has rebounded strongly from the $443 support zone, showing the bulls are fiercely defending this level.

BiBCH/USDT daily chart | Source: TradingViewHowever, the rebound is expected to face selling pressure at the resistance line of the falling wedge pattern. If the price reverses from the resistance line and breaks below the moving averages, it means the bears remain active on price increases. In that case, the bears may once again attempt to drag the BCH/USDT pair below $443.

Conversely, if the price breaks out and closes above the resistance line, this could signal a trend reversal. BCH price could rise to $580 and then $615.

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