Cryptocurrency Market October 27, 2021 by cryptonew: Bitcoin price struggled to break the USD 64,000 resistance area. BTC is falling and at 04:33 UTC BTC is trading above $ 61,400 after falling to nearly $ 60,000 today. A break below $ 60,000 could put the bulls under short-term pressure.
Also, most of the major altcoins are traded in a row. ETH fell before returning to $ 4,300. XRP is still trading below the $ 1.15 resistance. ADA faces strong resistance near the $ 2.20 region.
Bitcoin price started falling again after a failed attempt to break the USD 64,000 resistance. BTC traded below the support levels of $ 62,200 and $ 62,000. The price is currently consolidating above the $ 61,000 mark. A bearish breakout and a closing price below $ 60,000 could trigger a bigger drop. In this case, the price can drop as low as $ 58,000.
The next major resistance is at $ 62,000, above which the price could trigger a new rally towards $ 64,000.
The Ethereum price rose to over $ 4,250. However, ETH struggled to continue moving up and down before returning to $ 4,300.
The next major resistance is at $ 4,350, above which a rally to $ 4,500 is possible. If it drops below $ 4,200, the price may accelerate down towards $ 4,050.
Cardano (ADA) is still encountering resistance near the $ 2.18 and $ 2.20 levels. A closing price above $ 2.20 could push the price higher. The next major resistance is at $ 2.32. Conversely, the price could fall towards $ 2.05. The next big support is near the $ 2.00 mark.
Binance Coin (BNB) is consolidating near the $ 480 mark. Immediate resistance is near the $ 490 mark. The main breakout resistance is at $ 500, above which a short-term rally to $ 520 is possible.
Solana (SOL) is consolidating near the $ 200 mark. A closing price below $ 200 can push the price down to 192. The next major support is at $ 185. On the flip side, the bears can stay active near the USD 212 and USD 215 levels.
Dogecoin (DOGE) is holding gains above the $ 0.250 level. The price will encounter resistance near the $ 0.265 level. Any further gains could move the price towards $ 0.280. Otherwise, the price may drop near the $ 0.232 level.
The XRP price trades in a range of $ 1.10 to $ 1.15. The main resistance is at $ 1.15, above which a rally to $ 1.20 is possible. Otherwise, the price may drop to the USD 1.05 support level.
Many altcoins are up more than 8%, including HOT, SHIB, HNT, ATOM, ENJ, TFUEL, YFI, THETA, SNX, NEXO and MATIC. Of these, SHIB rose 29% to reach $ 0.0005364.
Overall, Bitcoin price is trying to rebound towards USD 62,000. If the decline continues, a closing price below $ 60,000 could push BTC down in the coming sessions.
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