Cryptocurrency Market November 25, 2021: Bitcoin and Ethereum Trying to Rise, SAND Doubling in One Week
Cryptocurrency Market November 25, 2021: Bitcoin price is trading above the USD 55,500 support level. BTC is bullish and is currently trading near $ 57,500 at 04:41 UTC. A closing price above $ 58,000 could open the door to a steady wave of near-term rebound.
Also, most of the major altcoins are showing positive signs. ETH is back above $ 4,250 and can break the $ 4,350 resistance. XRP needs to settle above $ 1.05 to start a steady increase. ADA is trading below the $ 1.72 pivot level.
Cryptocurrency Market November 25, 2021: Bitcoin Price
After falling slightly, Bitcoin price found support near the $ 56,000 mark. BTC started spiking again and slumped over $ 57,000. It even topped $ 57,500 and is currently facing resistance near $ 58,000. The next big resistance is at $ 58,500, above which the price could start a steady rise.
On the flip side, initial support is close to $ 57,000. The next big support is at $ 56,500, below which it may drop to the key support of $ 55,500.
Cryptocurrency Market November 25, 2021: Ethereum Price
Ethereum price is trading above $ 4,250. ETH even climbed above $ 4,300 but is facing resistance near $ 4,350. A significant break above the USD 4,350 resistance area could open the door to a new rally.
If it comes to another drop, the price may find support near $ 4,250. The next big support is near $ 4,050 below which further declines are possible.
Cryptocurrency Market November 25, 2021: ADA, BNB, SOL, SHIB and XRP prices
Cardano (ADA) has gained bearish momentum below the $ 1.75 and $ 1.72 levels. It is currently consolidating losses with immediate support at $ 1.62. The next big support is at $ 1.60, below which the price could test $ 1.50.
Binance Coin (BNB) rose 4%, breaking $ 585. The price has even passed the $ 600 mark and is showing positive signs. Any further gains could move the price towards $ 620.
Solana (SOL) is still consolidating below the USD 220 and USD 225 resistance levels. The main downside support is near the $ 200 mark, below which the bears can gain strength.
SHIB fell to $ 0.000035 before a new rally began. It is back above $ 0.000040 and is showing positive signs. A closing price above $ 0.000042 could trigger a rally towards $ 0.00045.
XRP price is consolidating above the USD 1.00 support area. A major hurdle is forming near the $ 1.05 mark. 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 25, 2021: Another Altcoin Market
Many altcoins are up more than 10%, including BORA, GALA, CHZ, WAXP, CRV, MINA, FTM, SAND, LRC, MANA, BCH and QTUM. Of these, SAND expanded its upward momentum by adding 22% in one day and increasing its weekly gain to 106%. It is currently trading at around $ 7.60.
Overall, the Bitcoin price is rising towards USD 58,500. If BTC accelerates above $ 58,500, it could accelerate higher in the short term.
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