2021-10-26 05:43:00

Bitcoin and Ethereum Show Signs of Fresh Increase

  • Bitcoin price is eyeing an upside break above USD 63,000.
  • Ethereum surpassed the USD 4,200 resistance, XRP touched USD 1.12.
  • CRV and SCRT gained over 22%.

Bitcoin price formed a base and climbed above the USD 62,000 resistance. BTC broke the USD 62,500 and even spiked above USD 63,000. It is currently (04:32 UTC) trading below USD 63,000, but it might increase towards USD 64,500 in the near term.

Besides, most major altcoins are showing positive signs. ETH is up 2% and trading above the USD 4,200 level. XRP is eyeing a key upside break above USD 1.12 and USD 1.15. ADA is rising towards the USD 2.20 resistance zone.

Total market capitalization

Source: tradingview.com

Bitcoin price

After a move above USD 62,000, bitcoin price was able to surge above the USD 62,500 level. BTC even spiked above USD 63,000, but there was no convincing close. The price is now consolidating below USD 63,000. A successful close above USD 63,000 may possibly start a steady increase. An immediate resistance is near the USD 63,200 level. The next major resistance is near USD 64,500, above which the price may perhaps rise towards the USD 65,000 level.

On the downside, an initial support is near USD 62,000. The first major support is near USD 61,500, below which the price could decline towards USD 60,000. 

Ethereum price

Ethereum price is also rising and trading above USD 4,200. ETH is now facing resistance near the USD 4,250 level. A clear break above USD 4,250 could set the pace for a larger increase. The next stop for the bulls might be USD 4,400.

An immediate support on the downside is near the USD 4,200 level. The first key support is now forming near the USD 4,120 level.

ADA, LTC, DOGE, and XRP price

Cardano (ADA) is rising towards the USD 2.18 and USD 2.20 resistance levels. A close above USD 2.20 might start a fresh rally. The next major resistance is at USD 2.32. If there is a fresh decline, the price could revisit USD 2.12. The next major support is near the USD 2.10 level.

Litecoin (LTC) is back above the USD 195 level. The bulls are facing a major hurdle near the USD 200 level. A close above USD 200 could set the pace for a move towards the USD 212 level. On the downside, the USD 188 level is now a decent support.

Dogecoin (DOGE) tested the USD 0.272 resistance before starting a downside correction. The price is consolidating near USD 0.265, with a decent support at USD 0.255. The main breakdown support is now forming near the USD 0.250 level.

XRP price remained stable near the key support at USD 1.05. It is back above USD 1.10, and it could gain pace above USD 1.12. The next major resistance is near USD 1.15, above which the price might rise towards USD 1.20. If not, the price might dip towards the USD 1.00 support.

Other altcoins market today

Many altcoins are up over 8%, including SCRT, CRV, NEAR, ALGO, ICP, MINA, FTM, COMP, ONE, TEL, CHZ and ENJ. Out of these, SCRT rallied 34% and surpassed the USD 8.5 level.

Overall, bitcoin price is climbing higher and trading above USD 62,000. If BTC settles above USD 63,000, there could be a move towards the USD 65,000 level in the near term.

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