The crypto market on October 6, according to cryptonew: Bitcoin price has stabilized above the pivot level of $ 50,000. As a result, BTC expanded its gains and broke the USD 51,200 resistance. At 04:37 UTC, BTC is consolidating gains with a major resistance near $ 52,000.
Also, most of the major altcoins trade in the positive zone. ETH rose above the USD 3,500 resistance before correcting lower. XRP is still trading below $ 1.08 while ADA is stable above $ 2.20 but is encountering resistance near $ 2.32.
In the past few sessions, the Bitcoin price has steadily risen to over $ 50,000. BTC has broken several barriers near $ 50,500 and $ 51,200. It even traded near $ 52,000 before correcting lower. Immediate support on the downside is near the $ 51,200 mark. The first major support is at $ 50,500, below which a pullback to $ 50,000 is possible.
On the downside, the price is encountering resistance near $ 51,800. The first major resistance is near the $ 52,000 mark, above which the price can rise towards $ 53,200.
Ethereum price also accelerated above the USD 3,400 resistance. ETH climbed above the USD 3,440 resistance and even surged above USD 3,500. The price tested $ 3,550 and is currently consolidating gains. On the flip side, initial resistance is near the $ 3,550 level. The next major resistance is now near the $ 3,620 level, above which the price can test $ 3,700.
If there is a downward correction, the price can test the $ 3,450 and $ 3,440 support levels. The next big support is at $ 3,380.
Cardano (ADA) is consolidating above the $ 2.20 level. Immediate resistance is near the $ 2.25 level. The main hurdle remains near the $ 2.32 mark. A closing price above $ 2.32 could open the door for a steady rise. The next major resistance is near the $ 2.50 mark.
Litecoin (LTC) expands profits above $ 172. However, the price is still struggling to break the critical resistance of $ 175. If there is a significant break above $ 175, a rally to $ 188 is possible. On the downside, the $ 165 level is a good support.
Dogecoin (DOGE) is rising to trade above $ 0.250. The bulls could soon be trying to make a significant break above the $ 0.265 level. The next major resistance is near the $ 0.275 level.
XRP price made another attempt to break the $ 1.08 resistance but failed. It is currently consolidating near $ 1.06 and it looks like the bulls may try again for a clear break above $ 1.08. Otherwise, the price could slide towards the USD 1.02 support level.
Many altcoins are up more than 5%, including SHIB, SC, THETA, XEM, MINA, ENJ, XDC, CHZ, BCH, NEO, KLAY, HOT and BTT. Of these, SBIH started a new rally and rebounded more than 65% in one day to hit $ 0.00002162.
Overall, the Bitcoin price is rising above the $ 51,000 mark. However, the $ 52,000 level could be a short-term resistance.
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. Your money, the choice is yours.
Key Points: Bitcoin Spot ETF Inflows totaled $449M, led by BlackRock’s $1.45B contribution. Ethereum Spot…
Discover the Best New Meme Coins to Join for 2025. BTFD Coin's price rollback offers…
Discover how DTX Exchange's historic achievement of 100,000 transactions per second on a layer-1 blockchain…
VanEck suggests the U.S. could reduce its national debt by 35% by 2050 through a…
President-elect Donald Trump named Bo Hines as the executive director of the presidential crypto council.
Explore the best new meme coins with 1000X potential. Learn how BTFD Coin leads with…
This website uses cookies.