Crypto market November 24, 2021: Bitcoin still at risk as Ethereum and small altcoins try to rebound
Cryptocurrency Market November 24, 2021: Bitcoin price failed to accelerate above the USD 58,000 resistance area. As a result, BTC started another decline and traded below $ 56,500. At 04:31 UTC, BTC is back above that level but is still showing bearish signs and could accelerate below $ 56,000.
Also, most of the major altcoins are trying to make a recovery wave. ETH is back above $ 4,200 and can rebound to $ 4,320. XRP needs to hover above $ 1.05 to make decent profits. ADA is down 7% to break the USD 1.70 support.
Cryptocurrency Market November 24, 2021: Bitcoin Price
After another failed attempt to hit $ 58,500, Bitcoin price began to fall again. BTC traded below the USD 57,500 and USD 57,000 support levels. On the flip side, initial support is close to $ 56,000. Key support remains near $ 55,500 below which the bears can gain strength. The next major support could be at $ 52,000.
On the downside, the price is encountering resistance near $ 57,500. The next major resistance is near $ 58,500, above which a steady rise is possible.
Cryptocurrency Market November 24, 2021: Ethereum Price
Ethereum price retested the USD 4,050 support area and started rising again. ETH rose above the $ 4,150 and $ 4,200 levels. It even broke the $ 4,250 mark and could continue to climb towards $ 4,320.
If it comes to another drop, the price can find support near $ 4,150. Key support remains near $ 4,050, below which the price could accelerate downward.
Cryptocurrency market November 24, 2021: ADA, BNB, SOL, SHIB and XRP prices
Cardano (ADA) failed to recover and fell below $ 1.75. It’s even trading below $ 1.70 and showing signs of bearish. If the bears remain active, there is a possibility of a slide towards $ 1.55.
Binance Coin (BNB) rose 3%, breaking $ 575. The price even exceeded $ 580. If there is a clear break above $ 585, it can soar to $ 600 in the short term.
Solana (SOL) is encountering resistance near the USD 220 and USD 225 levels. A closing price above $ 200 could trigger a steady spike. The next major resistance is at $ 232, above which a rally to $ 250 is possible.
SHIB is down 8% and trades below $ 0.000042. Immediate support is near the $ 0.000040 level. Fall below $ 0.000040 could even propel the price towards $ 0.000038.
XRP price remains stable above the USD 1.00 support area. However, the price is struggling to accelerate above the $ 1.05 level. A closing price above $ 1.05 can push the price down to $ 1.12. The next major resistance is near the $ 1.15 level.
Cryptocurrency Market November 24, 2021: Another Altcoin Market
Many altcoins are up more than 10% including SAND, AUDIO, LRC, ZEC, ROSE, GALA, FTM, ZEN, ENJ, CRV, CRO and XDC. Of these, SAND is up 26% to top $ 6.30 while ZEC is up 21% to nearly $ 254.
Overall, Bitcoin price is struggling to rebound above $ 58,000. If BTC breaks the USD 55,500 support, further losses towards USD 52,000 are possible.
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