Cryptocurrency market November 23, 2021: Bitcoin and altcoins both show signs of decline

Crypto Market November 23, 2021: Bitcoin price tried to rebound above USD 58,000. However, BTC failed to gain strength and struggled above $ 58,500. As a result, there was a new retrograde response.

At 04:58 UTC, BTC is trading below $ 57,000. Also, most of the big altcoins show bearish signs. ETH is trading below $ 4,200 and could continue to fall. XRP is still above $ 1.00 but faces many hurdles. ADA falls to the $ 1.80 level.

Cryptocurrency Market 11/23/2021: Bitcoin Price

After the bitcoin price struggled to cross the $ 58,500 mark, it began another decline. BTC traded below the USD 57,500 and USD 57,000 support levels. On the flip side, initial support is at $ 56,200. The first major support is at $ 55,500, below which there is a risk of falling below $ 55,000.

On the downside, the price could face resistance at $ 58,000. The first major hurdle is near the $ 58,500 mark, above which a steady increase is possible.

Cryptocurrency Market 11/23/2021: Ethereum Price

The Ethereum price failed to hold above $ 4,350 and detracted from profits. ETH trades below $ 4,250 and $ 4,200. It is currently consolidating near $ 4,150 and further losses are possible towards $ 4,050. The main support is near $ 4,000, below which the bears can gain strength.

On the downside, the price might struggle to break above $ 4,250. The first major resistance is at $ 4,350, above which a rally is likely.

Cryptocurrency market November 23, 2021: ADA, BNB, SOL, SHIB and XRP prices

Cardano (ADA) struggled to break the USD 1.85 resistance area. There was yet another drop below the $ 1.82 level. The price is currently approaching the USD 1.78 level. If the bears remain active, the price can increase the loss up to $ 1.70.

Binance Coin (BNB) began to drop below the $ 575 mark. It is approaching the USD 550 support area. Any further losses will likely open the door for a move towards $ 520. On the flip side, the bulls could be struggling near the $ 580 mark.

Solana (SOL) is consolidating near the $ 220 mark. Immediate resistance is near the $ 225 level. The key resistance is at $ 232, above which the price could steadily rise in the coming sessions.

SHIB was stuck near the $ 0.000045 level. Immediate support is near the USD 0.000432 level. The next big support is at $ 0.0000425, below which it may decline to $ 0.000040.

XRP price remains stable above the USD 1.00 support area. It is currently consolidating near the $ 1.05 mark. A bullish reaction can rally to $ 1.12. The next major resistance is near the $ 1.15 level.

Cryptocurrency Market 11/23/2021: Another Altcoin Market

Several altcoins are up more than 8% including AMP, VGX, SAND, XDC, CRV, LRC, EGLD, MANA, ENJ and ATOM. Of these, SAND is up 31% to top $ 5 while EGLD is up over $ 510. Additionally, AMP is up 44% to top $ 0.07. Meanwhile, IOTX, KSM, and STX all fell more than 4%.

Overall, Bitcoin price is struggling to rebound above $ 58,500. If BTC extends its losses below $ 55,500, a bigger drop is possible towards $ 52,000.

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