Crypto Markets Nov 12, 2021 by cryptonew: Bitcoin price fell below the USD 65,000 support ahead of a small rally. At 04:20 UTC, BTC is attempting another recovery and is facing a major hurdle near $ 65,500.
Also, most of the big altcoins move higher. ETH is gaining traction and could even surpass $ 4,800. XRP is trading near $ 1.22 and could continue to rise. ADA could pick up speed with earnings above $ 2.12.
After the Bitcoin price fell below $ 65,000, it continued to fall. BTC even climbed below $ 63,500 before bouncing back. The price is currently consolidating losses and trading near $ 65,000. On the flip side, initial support is near the $ 64,500 mark. The next major support is near the $ 64,000 mark, below which a test of $ 63,200 is possible.
On the downside, the price is encountering resistance near $ 65,500. The next major resistance is now forming near the $ 66,200 level, above which the price could gain momentum.
Ethereum price outperformed Bitcoin and started a steady rise above $ 4,750. ETH faces hurdles near the $ 4,800 mark. The main hurdle is $ 4,850. A closing price above $ 4,850 is required for stronger short-term gains.
On the flip side, initial support is close to $ 4,720. The next major support is near $ 4,650, below which the price can test $ 4,550.
Cardano (ADA) is consolidating above the $ 2.00 and $ 2.05 support levels. The price will encounter resistance at $ 2.12. A closing price above $ 2.12 could bring the price to $ 2.20.
Binance Coin (BNB) is moving higher towards the $ 635 resistance level. Immediate resistance is near the $ 640 level. The main breakout area is near the $ 650 mark, above which the price could initiate a steady rally.
Solana (SOL) is stuck near the $ 235 mark. It will also face resistance near the USD 242 and USD 245 levels. The main hurdle is USD 250, above which the price could gain momentum in the short term.
SHIB is up 5% and is approaching $ 0.000055. A close above the $ 0.000055 resistance could initiate a steady rise. Conversely, a decrease to $ 0.000052 is possible.
XRP price is showing positive signs above the USD 1.20 support. On the other hand, $ 1,232 is an immediate hurdle. The main resistance is at $ 1.25. A close above $ 1.25 could trigger a stronger rally in the short term.
Many altcoins are up more than 8%, including UMA, ZRX, MANA, ALGO, ZEN, ZEC, CHZ, MINA, NEAR, SAND, and XEC. Of these, the UMA rose 19% and broke the $ 3.00 mark. Meawnhile, LRC, OMG, and IOTX are all down more than 10%.
Overall, Bitcoin price is struggling to stay above $ 65,000. If BTC extends losses below $ 64,200, it can even drop to $ 63,200.
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