Categories: Market

Cryptocurrency market on November 8, 2021: Bitcoin surges above $ 65,000

Crypto market November 8, 2021 by cryptonew: Bitcoin price has formed a base above USD 62,500. BTC began another spike above the USD 64,000 and USD 65,000 resistance levels. At 04:37 UTC, BTC consolidates gains and is able to extend the rally above $ 65,500.

Plus, most of the big altcoins are bullish too. ETH broke the $ 4,700 mark and was trading at a new all-time high. XRP is up more than 10% and has climbed to over $ 1.26. ADA is consolidating above the $ 2.00 level.

Cryptocurrency Market November 8, 2021

 

 

Cryptocurrency Market November 8, 2021: Bitcoin Price

After testing the main support, Bitcoin price began rising again above the $ 63,500 resistance. BTC has broken the $ 64,000 and $ 65,000 resistance levels. It even surged to over $ 65,500 before the consolidation phase began. On the flip side, initial support is near the $ 64,500 mark. The next major support is near the $ 64,000 mark, below which the price could extend losses to the weekly support at $ 63,500.

Immediate resistance is near the $ 65,500 mark. The next major resistance is at $ 66,000, above which a rally to $ 68,000 is possible.

 

Cryptocurrency market November 8, 2021: Ethereum price

Ethereum price also followed Bitcoin, breaking the USD 4,500 resistance. ETH even broke the $ 4,700 mark and was trading at a new all-time high. It is currently consolidating earnings with initial support near the $ 4,650 mark. The next major support is near $ 4,600, below which the price can test $ 4,500.

On the flip side, there is an immediate hurdle near the $ 4,750 mark. A clear break above $ 4,750 could even push the price towards $ 4,920 in the short term.

 

Cryptocurrency market November 8, 2021: ADA, BNB, SOL, SHIB and XRP prices

Cardano (ADA) regained strength and rebounded above the $ 2.00 level. It is currently facing resistance near the $ 2.05 level. The first major hurdle is at $ 2.12, above which a rally to $ 2.25 is possible.

The Binance Coin (BNB) extended its rally above the $ 600 mark. It even rose to over $ 650 and is currently consolidating profits. Immediate support is near $ 625, below which the price could drop to the weekly support of $ 600.

Solana (SOL) is consolidating near the USD 250 resistance level. SOL could start a new rally if there is a close above $ 250. The next stop for the bulls is near the $ 275 mark.

 

SHIB rose below the $ 0.0000500 level. Price recovers to trade above the USD 0.000052 support. The next major resistance is near the $ 0.000055 level above which the bulls can test $ 0.000060.

XRP price surpassed the $ 1.25 mark with strong gains. It even surged above $ 1,262 before correcting down. If the bulls stay active, a rally to $ 1.28 is possible.

 

Cryptocurrency Market November 8, 2021: Another Altcoin Market

Many altcoins are up more than 8%, including LRC, KCS, STX, HNT, OKB, KSM, BTG, ICP, HBAR, AVAX and YFI. Of these, LRC rose nearly 23%, breaking the $ 1.55 mark before falling again. Meanwhile, the ENJ and OMG fell 6% -7%.

Overall, Bitcoin price is consolidating near the USD 65,000 support. If BTC starts a new rally, it can overcome the USD 66,000 resistance.

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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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