Cryptocurrency Market Oct 25 by cryptonew: Bitcoin price has extended its downward correction below the USD 62,500 support area. BTC tested the $ 60,000 zone and at 04:25 UTC, BTC was back above $ 62,000. A closing price above $ 63,000 is required to start a new short term rally.
Also, most of the big altcoins consolidate losses. ETH rose below $ 4,000 but the decline has been limited and the price is back above that level. XRP faces a tough task near $ 1.12 and $ 1.15. ADA is trading in a range below the $ 2.20 resistance area.
Cryptocurrency Market October 25th: Bitcoin Price
After Bitcoin price closed below $ 63,000, it extended its downward correction. BTC was trading below the USD 62,000 support area. It even got below $ 60,000, but the downsides are very limited. The price is currently recovering and trading around $ 62,000. Immediate resistance is near the $ 62,200 mark. The next major resistance is at $ 63,000, above which a rally to $ 65,000 is possible.
On the flip side, the initial support is at $ 61,200. The first major support is near $ 60,500, below which the bearish momentum could extend in the short term.
Cryptocurrency Market October 25th: Ethereum Price
Ethereum price also followed Bitcoin, correcting below $ 4,200. ETH has risen below $ 4,000 and is currently recovering higher. Price is consolidating near $ 4,100 and could trigger another spike if it breaks above $ 4,175. The next major resistance is at $ 4,250.
Immediate support on the downside is near the $ 4,100 mark. The first major support is now forming near the $ 4,020 level, below which a decline to the $ 3,800 level is possible.
Cryptocurrency Market October 25: ADA, LTC, DOGE and XRP prices
Cardano (ADA) settled below the $ 2.18 and $ 2.20 resistance levels. It is currently consolidating near $ 2.12 and is struggling to start a new spike. In the event of a bearish reaction, the price may drop below the $ 2.08 support. The next big support is near the $ 2.00 mark.
Litecoin (LTC) is down nearly 3% and is trading below $ 200. Initial support on the downside is near the $ 188 level. The first big support is close to $ 185, below which the bears can head for a bigger decline. Conversely, the price could begin to rise again above the USD 195 level.
Dogecoin (DOGE) is up over 7% to break the USD 0.265 resistance. It is currently facing resistance near the $ 0.280 level. The next major resistance is at $ 0.300, above which a rally to $ 0.312 is possible. On the flip side, the bulls could remain active near the $ 0.250 mark. In the meantime, the so-called “DOGE killer”, the SHIB token, has risen 12% in one day, increasing its weekly profit to 44% and becoming the eleventh largest cryptocurrency by market capitalization.
The XRP price failed to hold above the $ 1.12 pivot level. It’s currently stuck near $ 1.10. The first major support is at $ 1.05. The main support is near $ 1.00. A break below $ 1.00 could indicate a larger decline in the short term.
Cryptocurrency Market October 25th: Another Altcoin Market
Several altcoins are up more than 8% including GRT, RUNE, ONE, SHIB, FTM, NEAR, KSM and KCS. Of these, BRT rose 16% and broke the $ 1.02 while RUNE rose above $ 13.00.
Overall, Bitcoin price is rebounding higher and trading above the USD 61,200 support. However, a closing price above $ 62,000 and $ 63,000 is required to start a new rally.
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