Cryptocurrency Market November 22, 2021: Bitcoin price attempted another surge above $ 60,000. However, BTC failed to gain momentum and began another drop below $ 58,500, a 3% drop in one day. At 04:32 UTC, BTC is trading below USD 57,500 and there could be further downside moves in the short term.
Plus, most of the big altcoins also fall. ETH is down 4% to break below the USD 4,200 support. XRP could extend its losses if there is a significant break below $ 1.00. ADA lost 5% to hit $ 1.80.
After the price of Bitcoin struggled to cross the $ 60,000 mark, it began to decline again. BTC traded below the USD 58,500 and USD 58,000 support levels. On the flip side, initial support is at $ 57,200. The first major support is at $ 56,500, below which a return to the support area of $ 55,500 is possible.
If it rallies again, the price could encounter resistance near $ 58,500. The main weekly resistance is currently forming near $ 60,000, above which the bulls can gain strength.
Ethereum price broke $ 4,350 but failed to break the $ 4,400 resistance. As a result, there has been another drop and the price is currently trading below $ 4,200. Initial support is near the $ 4,150 mark. Key support is close to $ 4,050, below that there is more damage possible.
On the downside, the price is encountering resistance near the $ 4,250 level. The first major resistance is at $ 4,350, above which a rally to $ 4,500 is possible.
Cardano (ADA) was unable to continue past the $ 1.90 resistance area. There was another dip below the $ 1.80 mark before returning. Any further losses could result in a price of $ 1.55.
The Binance Coin (BNB) struggled to break the USD 600 resistance area. The NBB began another decline, breaking below the $ 580 support. The next big support is near $ 560, below which it might even be difficult to hold above $ 550.
Solana (SOL) is up 3% and pays well over $ 220. The next major resistance is near $ 232, above which the price could rise to the critical resistance area of $ 250 in the short term.
SHIB is down 5% and trading below $ 0.000045. Immediate support is near the USD 0.000425 level. The next big support is near the $ 0.000400 level below which the price could accelerate towards the $ 0.000370 level.
The XRP price couldn’t break above $ 1.10. It’s moving down and trading below $ 1.05. The next big support is at $ 1.00. Any further losses could move the price towards the USD 0.920 support area.
Several altcoins are up more than 8% including CRO, ZEC, ROSE, EGLD, ICX, STX, SCRT, CELO, IOTX and FLOW. Of these, the CRO rose 19% and broke $ 0.70 before correcting lower. Meanwhile, AVAX has overtaken DOGE and is now the tenth largest cryptocurrency by market capitalization. It is up nearly 3% in one day and is trading above $ 135.
Overall, Bitcoin price is falling and trading below $ 58,000. If BTC breaks the $ 56,500 support, it risks a bigger decline towards the $ 55,000 mark.
Join our Facebook group and Telegram group Coincu News to chat with more than 10,000 other people and share information about the crypto currency market.
Important NOTE: All content on the website is for informational purposes only and does not constitute investment advice in any way. Your money, the choice is yours.
Bybit Proof of Reserve reveals BTC holdings at 50,412 (-8.55%), ETH at 525,641 (+8.11%), and…
Key Points: Bitcoin Spot ETF Inflows totaled $449M, led by BlackRock’s $1.45B contribution. Ethereum Spot…
Discover the Best New Meme Coins to Join for 2025. BTFD Coin's price rollback offers…
Discover how DTX Exchange's historic achievement of 100,000 transactions per second on a layer-1 blockchain…
VanEck suggests the U.S. could reduce its national debt by 35% by 2050 through a…
President-elect Donald Trump named Bo Hines as the executive director of the presidential crypto council.
This website uses cookies.