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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

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.

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.