Cryptocurrency market October 26, 2021 according to cryptonew: Bitcoin price formed a base and climbed above the $ 62,000 resistance. BTC broke the $ 62,500 mark and surged to over $ 63,000. At 04:32 UTC, BTC is trading below $ 63,000 but could rise to $ 64,500 in the short term.
Also, most of the major altcoins are showing positive signs. ETH is up 2% and is trading above $ 4,200. XRP is headed for a major breakout above the $ 1.12 and $ 1.15 levels. ADA is rising towards the $ 2.20 resistance area.
Cryptocurrency Market October 26, 2021: Bitcoin Price
After Bitcoin price rose above $ 62,000, it was able to soar above $ 62,500. BTC even surged to over $ 63,000, but without a convincing closing price. The price is currently consolidating below $ 63,000. A successful closing price above $ 63,000 could initiate a steady rise. Immediate resistance is near the $ 63,200 mark. The next major resistance is at $ 64,500, above which a rally to $ 65,000 is possible.
On the flip side, the initial support is at $ 62,000. The first major support is at $ 61,500, below which it may drop to $ 60,000.
Cryptocurrency Market October 26, 2021: Ethereum Price
Ethereum price is also rising and trading above $ 4,200. ETH is currently facing resistance near the $ 4,250 mark. A significant break above $ 4,250 could set the pace for a bigger rally. The next stop for the bulls could be at $ 4,400.
Immediate support on the downside is near the $ 4,200 mark. The first major support is currently forming near the $ 4,120 mark.
Cryptocurrency Market October 26, 2021: ADA, LTC, DOGE and XRP prices
Cardano (ADA) rises to the $ 2.18 and $ 2.20 resistance levels. A close above $ 2.20 could trigger a new rally. The next major resistance is at $ 2.32. If it drops again, the price can revert to $ 2.12. The next big support is near the $ 2.10 level.
Litecoin (LTC) is back above the $ 195 level. The bulls are facing a major hurdle near the $ 200 mark. A closing price above $ 200 could set the pace towards $ 212. On the downside, $ 188 is good support right now.
Dogecoin (DOGE) tested the USD 0.272 resistance before initiating a downward correction. Price is consolidating near $ 0.265, with decent support at $ 0.255. The main breakout support is currently forming near the $ 0.250 mark.
XRP price remains stable near the critical support at $ 1.05. It’s back above $ 1.10 and could accelerate above $ 1.12. The next major resistance is at $ 1.15, above which a rally to $ 1.20 is possible. Otherwise, the price could drop to the USD 1 support level.
Cryptocurrency Market October 26, 2021: Another Altcoin Market
Many altcoins are up more than 8% including SCRT, CRV, NEAR, ALGO, ICP, MINA, FTM, COMP, ONE, TEL, CHZ and ENJ. Of these, SCRT is up 34% to top $ 8.50.
Overall, Bitcoin price is moving higher and trading over $ 62,000. If BTC levels off above $ 63,000, it could see a move towards $ 65,000 in the near future.
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