Cryptocurrency Market November 24, 2021: Bitcoin price failed to accelerate above the USD 58,000 resistance area. As a result, BTC started another decline and traded below $ 56,500. At 04:31 UTC, BTC is back above that level but is still showing bearish signs and could accelerate below $ 56,000.
Also, most of the major altcoins are trying to make a recovery wave. ETH is back above $ 4,200 and can rebound to $ 4,320. XRP needs to hover above $ 1.05 to make decent profits. ADA is down 7% to break the USD 1.70 support.
Cryptocurrency Market November 24, 2021: Bitcoin Price
After another failed attempt to hit $ 58,500, Bitcoin price began to fall again. BTC traded below the USD 57,500 and USD 57,000 support levels. On the flip side, initial support is close to $ 56,000. Key support remains near $ 55,500 below which the bears can gain strength. The next major support could be at $ 52,000.
On the downside, the price is encountering resistance near $ 57,500. The next major resistance is near $ 58,500, above which a steady rise is possible.
Cryptocurrency Market November 24, 2021: Ethereum Price
Ethereum price retested the USD 4,050 support area and started rising again. ETH rose above the $ 4,150 and $ 4,200 levels. It even broke the $ 4,250 mark and could continue to climb towards $ 4,320.
If it comes to another drop, the price can find support near $ 4,150. Key support remains near $ 4,050, below which the price could accelerate downward.
Cryptocurrency market November 24, 2021: ADA, BNB, SOL, SHIB and XRP prices
Cardano (ADA) failed to recover and fell below $ 1.75. It’s even trading below $ 1.70 and showing signs of bearish. If the bears remain active, there is a possibility of a slide towards $ 1.55.
Binance Coin (BNB) rose 3%, breaking $ 575. The price even exceeded $ 580. If there is a clear break above $ 585, it can soar to $ 600 in the short term.
Solana (SOL) is encountering resistance near the USD 220 and USD 225 levels. A closing price above $ 200 could trigger a steady spike. The next major resistance is at $ 232, above which a rally to $ 250 is possible.
SHIB is down 8% and trades below $ 0.000042. Immediate support is near the $ 0.000040 level. Fall below $ 0.000040 could even propel the price towards $ 0.000038.
XRP price remains stable above the USD 1.00 support area. However, the price is struggling to accelerate above the $ 1.05 level. A closing price above $ 1.05 can push the price down to $ 1.12. The next major resistance is near the $ 1.15 level.
Cryptocurrency Market November 24, 2021: Another Altcoin Market
Many altcoins are up more than 10% including SAND, AUDIO, LRC, ZEC, ROSE, GALA, FTM, ZEN, ENJ, CRV, CRO and XDC. Of these, SAND is up 26% to top $ 6.30 while ZEC is up 21% to nearly $ 254.
Overall, Bitcoin price is struggling to rebound above $ 58,000. If BTC breaks the USD 55,500 support, further losses towards USD 52,000 are possible.
Join our Facebook group and Telegram group Coincu News to chat with more than 10,000 other people and share information about the crypto currency market.
Important NOTE: All content on the website is for informational purposes only and does not constitute investment advice in any way. Your money, the choice is yours.