Cryptocurrency market on October 11, according to cryptonew: Bitcoin price is still well supported above $ 55,000. BTC started a new rally and overcame the USD 56,000 resistance. At 04:28 UTC, BTC is trading above $ 56,000 and the bulls can test $ 57,200.
Also, most of the big altcoins are consolidating their profits. ETH is trading near $ 3,500 and could start a new spike. XRP is trading above $ 1.15 but faces hurdles at $ 1.20. ADA has broken the $ 2.20 resistance and is able to rebound to $ 2.32.
October 11th cryptocurrency market: Bitcoin price
After Bitcoin price closed above $ 55,000, it extended its rally. BTC broke the USD 56,000 resistance to move further into the positive zone. The price is trading in positive territory and may accelerate above the $ 56,500 level. The next major resistance is at $ 57,200, above which a rally to $ 58,000 is possible.
On the flip side, immediate support is near the $ 56,000 mark. The first major support is near the $ 55,500 mark, below which it is likely to fall to $ 54,000.
Cryptocurrency Market October 11th: Ethereum Price
Ethereum price bounced back above $ 3,600 before a bearish correction. ETH is currently consolidating near the $ 3,500 mark. On the flip side, initial support is near the $ 3,450 mark. The next big support is at $ 3,420, below which a drop to the $ 3,350 support is possible.
If it rallies again, the price could encounter resistance near the $ 3,550 mark. The main resistance is currently at $ 3,600, above which the price can test $ 3,680.
Crypto Market October 11th: ADA, LTC, DOGE and XRP prices
Cardano (ADA) has settled above $ 2.20. However, the bulls are struggling to break the $ 2.30 and $ 2.32 levels. If they are successful, the price can go up to $ 2.50. Any further uptrend could create the conditions for a larger rally to $ 2.65.
Litecoin (LTC) is stable near the $ 180 mark. The price is showing positive signs but the USD 188 level is a major hurdle. If there is a significant break above $ 188, a rally to $ 200 is possible. Conversely, a decline to the USD 172 support level is possible.
Dogecoin (DOGE) traded near the USD 0.250 resistance before correcting lower. Price is currently consolidating near $ 0.232 and could make another attempt to break the $ 0.250 resistance. The next major resistance is near the $ 0.265 level.
The XRP price broke the $ 1.10 resistance and even surged above $ 1.20. The price is currently consolidating above $ 1.15, with a major hurdle near the $ 1.20 level. A closing price above $ 1.20 could result in a bigger move higher.
Important NOTE: All content on the website is for informational purposes only and does not constitute investment advice. Your money, the choice is yours.
Cryptocurrency Market October 11th: Another Altcoin Market Today
Several altcoins are up more than 5% including STX, DYDX, ONE, MDX, DCR, AR and MIOTA. Of these, the STX gained more than 19% and broke the $ 2.15 mark.
Overall, Bitcoin price is showing positive signs above the $ 55,000 level. If BTC breaks the $ 57,200 mark, it could hit the $ 60,000 mark in the short term.