Cryptocurrency market October 22, 2021: Bitcoin and many altcoins tend to decline

Cryptocurrency market October 22, 2021 by cryptonew: At 04:25 UTC, BTC is trading below USD 64,000 and further declines are possible at short notice.

Aside from that, most of the big altcoins also reduce profits. ETH is trading below the $ 4,320 and $ 4,250 support levels. XRP is still struggling to break the $ 1.15 resistance area. ADA tested $ 2.30 before correcting down.

Cryptocurrency market today 22nd-10-2021: Bitcoin price

After Bitcoin price hit a new all-time high earlier this week, a downward correction began below $ 66,000. BTC traded below the support levels of $ 65,000 and $ 64,200. It tested $ 62,000 and is currently consolidating losses. On the flip side, the initial support is at $ 62,500. The first major support is at $ 62,000, below which the price could test the $ 60,500 support.

If it rallies again, the price could encounter resistance near $ 64,200. The next major resistance is at $ 65,000, above which the bulls can target a new all-time high.

Cryptocurrency Market October 22, 2021: Ethereum Price

The Ethereum price broke the $ 4,200 mark. ETH even broke through $ 4,350 but failed to test the $ 4,400 resistance. A high was formed at $ 4,375 before a downside correction set in. The price is currently trading below $ 4,200, but bids can be found near $ 4,050 and $ 4,000.

On the downside, the price is encountering resistance near the $ 4,200 mark. The first major resistance is at $ 4,250, above which a rally to $ 4,350 is possible.

Cryptocurrency market October 22, 2021: ADA, LTC, DOGE and XRP prices

Cardano (ADA) broke the $ 2.18 and $ 2.20 resistance levels. It exceeded below $ 2.32 before correcting down. It is currently trading below $ 2.20 with the main support at $ 2.15. Any further losses could lead the price towards $ 2.05.

Litecoin (LTC) has corrected down from the 212 level and is consolidating near the $ 200 level with important support at 192. Further losses could open the door to a larger decline next time. If it rises again, the bulls may aim for a break above the $ 212 level.

Dogecoin (DOGE) is back below $ 0.250. Initial support is near $ 0.240. The first big support is at $ 0.232, below which it may decline to $ 0.220. If it rallies again above $ 0.250, a rally to $ 0.265 is possible.

The XRP price failed to gain strength above $ 1.15 and began a downward correction. It is currently trading near $ 1.10 with immediate support at $ 1.08. The next big support is at $ 1.05, below which it could test $ 1.00.

Cryptocurrency Market October 22, 2021: Another Altcoin Market

Many altcoins are up more than 5% including RUNE, GRT, SOL, ZEC, VET, NEAR, NEXO, LINK, EGLD, AVAX, XMR and HT. Of these, RUNE is up 35%, topping the $ 10 mark.

Overall, Bitcoin price corrects a drop below $ 64,000. It looks like BTC could even drop below $ 62,000, but the $ 60,000 zone could serve as strong support.

Join our Facebook group and Telegram group Coincu News to chat with more than 10,000 other people and exchange information about the crypto currency market.

Important NOTE: All content on the website is for informational purposes only and does not constitute investment advice. Your money, the choice is yours.