Cryptocurrency Market November 10, 2021 by cryptonew: Bitcoin price extended its rally above $ 68,600 and traded to a new all-time high. Recently, BTC began a downward revision below the $ 67,000 level. At 04:45 UTC, BTC showed bearish signs and could correct further towards USD 65,500.
Most of the major altcoins are stable above the major supports. ETH hit a new all-time high near USD 4,840 before initiating a phase of consolidation. XRP failed to break the $ 1,265 resistance. ADA shows positive signs above $ 2.20.
After Bitcoin price hit a new all-time high above $ 68,600, a downward correction began and fell below the $ 67,000 support. On the flip side, initial support is near the $ 66,200 mark. The next major support is near the $ 66,000 level below which the price can test $ 65,500.
On the downside, the price could hit hurdles near $ 67,500. The next major resistance is currently forming near the $ 68,000 mark.
The Ethereum price has also traded to a new all-time high of over $ 4,800. However, ETH has not been able to continue climbing towards the $ 5,000 mark. As a result, there was a drop below $ 4,750. It is currently consolidating near the $ 4,700 mark. The next major support is near $ 4,650, below which the price can test $ 4,550.
On the flip side, there is an immediate hurdle near the $ 4,800 mark. The main breakout area moving towards $ 5,000 is at $ 4,850.
Cardano (ADA) rose above the $ 2.30 resistance level. It tested $ 2.37 before correcting down. The price is currently trading below $ 2.25 but the bulls are defending the $ 2.20 support area.
Binance Coin (BNB) failed to cross the USD 650 resistance. As a result, there has been a downward correction below the $ 635 level. The next big support is at $ 620, below which further decline towards $ 600 is possible.
Solana (SOL) failed to break the USD 250 resistance. SOL corrects down and trades below $ 242. If the bears stay active, the price can test the $ 230 level. The next big support is near the $ 225 mark.
SHIB struggles near $ 0.0000550. Immediate resistance is near the USD 0.000565 support. The main resistance is near the $ 0.000058 level above which a rally to $ 0.000060 is possible.
XRP price rose to the $ 1.28 resistance level where it faced sellers. As a result, the price began a downward correction below $ 1.25. It looks like the price could continue to fall towards the $ 1.22 mark.
Many altcoins are up more than 5%, including IOTX, KDA, LPT, LRC, ZEC, QNT, XLM, HBAR, HNT, LTC and DASH. Of these, LRC rebounded more than 34%, breaking the $ 2.80 mark.
Overall, the Bitcoin price is correcting below the USD 67,000 level. If BTC falls below $ 65,500, there is a risk of a larger decline.
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