Categories: Market

Crypto market October 29, 2021: Bitcoin gains strength again, Ethereum reaches new ATH, large altcoins gain momentum

Cryptocurrency market October 29, 2021 by cryptonew: Bitcoin price started a renewed rise above the resistance levels of USD 60,000 and USD 60,500. BTC has risen above $ 61,200. At 04:18 UTC, BTC encounters resistance near USD 62,000, above which a steady rise is possible.

Also, most of the big altcoins are gaining upward momentum. ETH rose 9% and even surged to over $ 4,400. XRP could test the $ 1.12 resistance area. ADA is currently consolidating above the $ 2.00 level.

Cryptocurrency Market October 29, 2021

Cryptocurrency Market October 29, 2021: Bitcoin Price

After closing above $ 60,000, Bitcoin price continued to rebound. BTC was able to climb above the USD 60,500 and USD 61,200 resistance levels. Immediate resistance is near the $ 61,800 mark. The next major drag is at $ 62,000, above which the price could gain momentum.

On the flip side, initial support is near the $ 61,200 mark. Key support is currently forming near the $ 60,000 mark, below which bearish momentum could be gained.

Cryptocurrency Market October 29, 2021: Ethereum Price

Ethereum price started a strong rally above the $ 4,200 resistance. ETH surged 9% and even surged above $ 4,400, hitting a new all-time high of $ 4,416 (per coin checko) and correcting downward shortly afterwards. On the flip side, initial resistance is near the $ 4,400 mark. The next major resistance is at $ 4,440, above which the price can rise towards $ 4,550.

If there is a downward correction, the price could find bids near the $ 4,300 level. The first major support is near the USD 4,250 level.

Cryptocurrency Market October 29, 2021: ADA, BNB, SOL, SHIB and XRP prices

Cardano (ADA) is back above the USD 2.00 support area. It is currently consolidating profits above the $ 2.00 level. Immediate resistance is near USD 2.05, above which a short-term rally to USD 2.20 is possible.

Binance Coin (BNB) accelerated above the $ 465 and $ 470 levels. It is currently trading above $ 490 and is approaching the resistance of $ 500. A close above $ 500 could push the price towards the $ 520 and $ 525 levels.

Solana (SOL) has rallied above the $ 195 and $ 200 levels. Price is consolidating gains and could begin to rebound towards $ 212. Any further gains could push the price towards USD 225 in the short term.

SHIB fell more than 20%, reducing most of the profit. It trades under $ 0.000065. Initial support is near the $ 0.000060 level. In the event of further losses, the price can drop to 0.00055 USD.

XRP price broke the USD 1.05 resistance. The price is currently rising to the $ 1.10 level. The key hurdle is at USD 1.12, above which the price can rise towards USD 1.20.

Cryptocurrency Market October 29, 2021: Another Altcoin Market Today

Many altcoins are up more than 10%, including MANA, DOGE, REV, AXS, FLOW, SCRT, KCS, CRO, FIL, BAT, CHZ, ENJ, and ZEC. From that, MANA rebounded more than 47%, breaking the $ 1.10 mark.

Overall, the Bitcoin price is rising above the $ 61,200 mark. However, BTC needs to level off above $ 62,000 to accelerate in the short term.

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

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.

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