Crypto market on October 12, according to cryptonew: Bitcoin price expands profits above $ 56,000. BTC was able to break the USD 57,200 resistance area. It trades near $ 58,000 and at 05:34 UTC consolidates gains just under $ 57,000.

On the other hand, most major altcoins correct lower. ETH failed to expand profits and corrected below $ 3,500. XRP is down more than 5%, breaking below $ 1.10. ADA is also down, trading below the $ 2.20 level.

Cryptocurrency Market October 12th: Bitcoin Price

After a significant break above $ 56,000, Bitcoin price extended its bullish momentum. BTC broke the $ 56,500 resistance and the $ 57,200 pivot level. The upside move brought the price close to the $ 58,000 level. Recently there has been a downward correction below the $ 57,200 and $ 57,000 levels. The price is currently consolidating at $ 56,000 with immediate support. The next big support is at $ 55,500.

On the flip side, the initial hurdle is near the $ 57,200 mark. The next major resistance is at $ 57,500, above which a rally to $ 58,000 is possible.

Cryptocurrency Market October 12th: Ethereum Price

Ethereum price failed to break above $ 3,600 and began a downward correction. ETH is currently trading under the support of $ 3,500. The first major support is near the $ 3,440 mark. Any further losses could open the door for a larger decline to $ 3,350.

If it rallies again, the price could encounter resistance near $ 3,540. The next big hurdle appears to be forming at $ 3,600, above which the price could struggle at $ 3,650.

Cryptocurrency Market October 12: ADA, LTC, DOGE and XRP prices

Cardano (ADA) has corrected down below the USD 2.20 support. The price is currently trading below $ 2.15 and could drop further to $ 2.05. The next big support is near the $ 2.00 mark.

Litecoin (LTC) failed to break the USD 185 and USD 188 resistance levels. The price is currently trading below $ 175 and may extend the drop below 172. If so, the price could continue to fall towards the $ 165 support.

Dogecoin (DOGE) is down 5% and is currently trading below the USD 0.232 support. Immediate support is near the $ 0.220 level. If there is a downside break below $ 0.220, a short term return to $ 0.20 is possible.

XRP price began to drop below the USD 1.12 support. The price is trading below $ 1.10 and could continue to fall. In that case the price could test the $ 1.05 level. The next big support is near the $ 1.00 level.

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