Categories: Market

Bitcoin Price and Crypto Market Update October 11

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.

Cryptocurrency Market October 11th

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.

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Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.