2021-10-09 05:40:20

Bitcoin Fixes Lower, Ethereum, and Altcoins Struggle to Enlist Tempo

Bitcoin value began a draw back correction from properly above the USD 55,000 stage. BTC moved beneath the USD 54,000 stage. It’s at present (04:28 UTC) buying and selling beneath USD 54,000 and it would right additional decrease.

Bitcoin value
After buying and selling above USD 55,500, bitcoin value began a draw back correction. BTC traded beneath the USD 54,500 and USD 54,000 ranges. It’s now transferring decrease in the direction of the USD 53,500 assist zone. The subsequent main assist is close to the USD 53,200 stage, beneath which there are possibilities of a sharper decline. On this case, the worth may dive in the direction of the USD 52,000 stage.

Main altcoins are exhibiting combined outcomes. ETH is buying and selling properly above USD 3,500 and it would speed up increased if there’s a break above USD 3,600. XRP didn’t clear the USD 1.10 resistance and corrected decrease. ADA spiked above USD 2.32, however there was no follow-through transfer.

On the upside, the worth is dealing with resistance close to USD 54,500. The primary key resistance is now forming close to the USD 55,000 stage, above which the worth would possibly begin a recent enhance.

Ethereum value is showing positive signs above the USD 3,500 pivot level. ETH even surpassed the USD 3,600 level, but there was no proper close. If there is a daily close above USD 3,600, the price could accelerate higher towards the USD 3,700 and USD 3,750 levels.

Ethereum value

On the downside, an initial support is near the USD 3,510 and USD 3,500 support levels. The next major support is near USD 3,440, below which the price might move down towards the USD 3,350 support.

ADA, LTC, DOGE, and XRP price
Cardano (ADA) gained pace above the USD 2.25 and USD 2.30 levels. It even spiked above USD 2.32, but the bulls failed to remain in action. As a result, there was a downside correction and the price is now trading below USD 2.30.

Litecoin (LTC) broke the USD 180 and USD 185 resistance levels. However, it faced a strong resistance near the USD 188 level. The price is now correcting lower and trading below USD 180. If there is a break below USD 172, the price could move down towards the USD 165 level. Dogecoin (DOGE) broke the USD 0.250 level before it corrected lower. The price is now consolidating near the USD 0.240 level. If there is a fresh increase above USD 0.250, the bulls might test the USD 0.265 level in the near term.

XRP price attempted an upside break above the USD 1.08 resistance. The price failed to clear the USD 1.10 level and it is now correcting lower. The price might soon make another attempt to clear the USD 1.10 resistance in the near term. Other altcoins market today
Many altcoins are up over 5%, including FTM, BSV, CHZ, EGLD, LUNA, NEAR, REV, SC, ALGO, KSM, YFI, ONE, and DOT. Out of these, FTM rallied 25% and it broke the USD 2.10 level before correcting lower.

Overall, bitcoin price is correcting gains below the USD 54,000 level. However, BTC could remain stable near USD 53,000 and it might start a fresh increase in the near term.

News Summary:

  • Bitcoin Fixes Lower, Ethereum, and Altcoins Struggle to Enlist Tempo
  • Check all news and articles from the latest Security news updates.
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