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: 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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