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Cryptocurrency market on October 20th by cryptonew: Bitcoin price is still well supported over USD 62,000. BTC has broken several barriers near $ 63,500 and $ 64,000. It is currently rising (04:25 UTC) and could test the USD 65,000 resistance area for a short time.
Most of the major altcoins struggle to track Bitcoin. ETH stays below the $ 3,950 and $ 4,000 resistance levels while XRP stays around the $ 1.10 mark. ADA trades below the $ 2.18 and $ 2.20 resistance levels.
After the Bitcoin price closed above $ 62,000, it was able to continue its rally. The price was able to break through the $ 63,500 and $ 63,800 resistance levels. It is currently facing resistance near the $ 64,000 mark. The next major resistance is at $ 64,200, above which a rally to $ 65,000 is possible.
On the flip side, the initial support is at $ 63,500. The first major support is at $ 63,200, below which the price could test the $ 62,000 support.
Ethereum price appears to be consolidating above the USD 3,750 support area. The price is currently trading above $ 3,800 and can climb to $ 3,880. A significant break above $ 3,880 could accelerate earnings towards $ 4,000 in the short term.
If there is no interruption above $ 3,880, the price could correct downward. The first major support is now forming near the $ 3,780 level.
Cardano (ADA) is consolidating above the $ 2.05 and $ 2.08 support levels. Key resistance remains near the $ 2.18 and $ 2.20 levels. A clear break above USD 2.20 towards USD 2.40 could be possible. The intermediate resistance is $ 2.32.
Litecoin (LTC) is trading above the USD 180 support. The immediate hurdle is $ 188, followed by $ 192. A significant break above $ 200 could open the door for a move towards the $ 220 and $ 225 levels in the upcoming sessions.
Dogecoin (DOGE) is down nearly 4% and is consolidating below the $ 0.250 resistance. A further spike above $ 0.250 can push the price to $ 0.265. The next major resistance is near $ 0.280. On the other hand, $ 0.232 is a major support. The next major support is near the $ 0.220 level.
XRP price sticks below the $ 1.12 and $ 1.15 resistance levels. The main resistance is at $ 1.20. A close above $ 1.20 could pave the way for a bigger rally. Otherwise, the price could fall into the USD 1.05 support area. The main support tier is $ 1.00.
Many altcoins are up more than 5%, including OKB, KCS, XDC, NEAR, AR, HT, HBAR, ATOM, FTM, ONE, LUNA, and MANA. Of these, OKB gained 26% and topped the $ 20 mark, bringing weekly earnings to nearly 29%.
Overall, Bitcoin price is rising and trading above $ 63,500. If BTC clears $ 64,200, it could spike to $ 65,000 or even $ 65,500 in the near future.
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