Crypto Bitcoin Corrects Gains Altcoins
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.
Important NOTE: All content on the website is for informational purposes only and does not constitute investment advice. Your money, the choice is yours.
October 12th Cryptocurrency Market: Another Altcoin Market
Many altcoins are down more than 8%, including KLAY, DYDX, AR, DCR, MIOTA, STX, CELO, FLOW, ALGO and ONE. Of these, KLAY fell more than 12% breaking the USD 1.60 support while FLOW fell 13%. Meanwhile, SHIB is rebounding and is now up 12% in one day, trading at $ 0.0003054.
Overall, Bitcoin price corrects gains below $ 57,000. However, BTC could start a new rally if it sustains above the $ 55,000 support in the coming sessions.
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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. 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.