Cryptocurrency Market Nov 2nd, 2021: Bitcoin Stabilizes As Ethereum Erupts

Cryptocurrency market November 2, 2021 according to cryptonew: Bitcoin price tried to break the $ 62,500 and $ 62,650 resistance levels. However, BTC failed to gain strength above $ 62,500 and profits were reduced. At 04:21 UTC, BTC is trading below $ 61,500 but stable above $ 60,000.

Plus, most of the big altcoins are also traded in a row. ETH faces major resistance near $ 4,400 and $ 4,450. XRP is still trading below the $ 1.15 resistance. ADA is struggling to level above the USD 2.00 resistance.

Cryptocurrency Market November 2, 2021: Bitcoin Price

Recently, Bitcoin price made another attempt to break the $ 62,500 resistance area. However, BTC failed to rise any further and fell. It broke the critical support area of ​​$ 61,200. There was also a spike below $ 60,500, but the price is now back above $ 61,200. On the flip side, initial support is near the $ 60,500 mark. Key support remains near the $ 60,000 mark, below which a stronger decline could begin.

Immediate resistance to the upside is near the $ 61,500 mark. The main breakout zone remains near $ 62,500, above which the price could start a steady rise.

Cryptocurrency Market November 2, 2021: Ethereum Price

Ethereum price is trading above the USD 4,250 support area. ETH appears to be facing major resistance near $ 4,400 and $ 4,450. A significant break above $ 4,450 could open the door to a bigger rally. The next stop for the bulls could be at $ 4,650.

On the flip side, initial support is near the $ 4,300 mark. The next major support is near $ 4,250, below which the price can test $ 4,120.

Cryptocurrency market November 2, 2021: ADA, BNB, SOL, SHIB and XRP prices

Cardano (ADA) faces strong resistance near the $ 2.00 level. A closing price above $ 2.00 could lift market sentiment. Otherwise, the price could fall and return to the $ 1.88 support in the short term.

Binance Coin (BNB) is up over 6% and is trading above $ 540. An immediate hurdle is near the $ 550 mark. A closing price above $ 550 could drive the price towards the $ 580 and $ 600 levels.

Solana (SOL) is consolidating above the $ 200 mark. The bulls face resistance near 212. A significant break above $ 212 can push the price even above $ 220. Conversely, a break below $ 200 can push the price toward $ 192.

SHIB is struggling to hold above $ 0.0000700. A break below $ 0.000070 could trigger a bigger drop. The next big support is near the $ 0.000065 level.

XRP price remains stuck below the resistance level of $ 1.12. The main hurdle remains near the $ 1.15 mark above which price could gain momentum. If not, the price could drop to $ 0.95.

Cryptocurrency Market November 2nd, 2021: Another Altcoin Market

Many altcoins are up more than 8%, including SAND, YOOSHI, LRC, ANKR, MANA, QTUM, SUSHI, DOT, ENJ, ELON, CHZ, KSM, OMG and RUNE. Of these, the DOT is up nearly 17% and is close to $ 50. Meanwhile, SAND rebounded more than 57% to break $ 2.70 before correcting towards $ 2.60.

Overall, Bitcoin price is struggling to soar above $ 62,000 and $ 62,500. If BTC clears $ 62,500, a steady upward move could begin.

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