Cryptocurrency market on October 18, according to cryptonew: Bitcoin price began to rise steadily over the $ 60,000 region. BTC even broke the USD 62,000 resistance to move further into the positive zone. At 04:27 UTC, BTC is picking up speed and could attempt to crack above USD 62,500.
Also, most of the major altcoins are showing positive signs. ETH is trading above $ 3,800 and encountering resistance near $ 3,920. XRP is encountering resistance near $ 1.12 and $ 1.15. ADA is correcting down toward $ 2.15.
After a slight downward correction, Bitcoin price found support near the $ 58,500 region. BTC formed a base and began rising again above the USD 60,000 resistance level. The price remains attractive and could break the $ 62,000 resistance. It is currently facing resistance near the $ 62,500 mark. The next major resistance is at $ 63,500, above which a rally to $ 65,000 is possible.
On the flip side, the initial support is at $ 61,200. The next big support is near $ 60,500, below which it might be difficult to keep the price above $ 60,000.
Ethereum price gained strength above the USD 3,800 resistance level. ETH broke through $ 3,850 but was unable to hold above $ 3,900. It appears to face resistance near the $ 3,920 level. Any further gains could pick up the pace towards $ 4,000.
If corrected downward, the price could find support near the $ 3,800 mark. The first major support is now forming near the $ 3,750 level.
Cardano (ADA) surged above the $ 2.15 mark but failed to break the $ 2.20 resistance. The price is currently consolidating above the $ 2.12 level. If there is a break above $ 2.20 the price can go up. On the flip side, the bulls could remain active near the $ 2.05 level.
Litecoin (LTC) broke the USD 185 resistance area. However, the bulls have failed to gain strength beyond the USD 188 resistance area. A sharp break above this zone could open the door to a bigger rally. The next stop for the bulls could be at $ 200.
Dogecoin (DOGE) is consolidating above the $ 0.232 level. Immediate resistance is near the $ 0.242 level. The main resistance is at $ 0.250. A sharp break above this level could set the pace for a bigger rally. In this case, the price can go up to $ 0.300.
XRP price is consolidating below the resistance level of $ 1.12. The first major resistance is at $ 1.15. A sharp break above $ 1.15 could push the price towards $ 1.20. On the downside, the price could find support near the USD 1.05 level.
Several altcoins are showing positive signs including STX, SHIB, ZEC, FTM, CELO, LEO, HNT, PERP, ONE and KCS. Of these, the STX rebounded 30% and broke the $ 2.75 mark before correcting down again.
Overall, the Bitcoin price rises to over $ 62,000. If BTC clears $ 62,500, it could see a steady spike to $ 63,500 or even $ 64,200.
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