2021-10-25 13:13:00

Bitcoin Gains Momentum, Ethereum, Altcoins Show Positive Signs

  • Bitcoin price is rising and is trading above USD 63,000.
  • Ethereum is facing resistance near USD 4,200, XRP below USD 1.10.
  • CRV and GRT are up over 16%.

Bitcoin price started a fresh increase above the USD 61,500 resistance. BTC cleared the USD 62,000 level and it is currently (11:56 UTC) trading above USD 63,100. If there is a close above USD 63,000, the bulls might gain strength in the near term.

Besides, most major altcoins are also rising. ETH is facing hurdles near USD 4,180 and USD 4,200. XRP might start a decrease if it remains below USD 1.12. ADA is stuck between USD 2.10 and USD 2.20.

Total market capitalization

Source: tradingview.com

Bitcoin price

After a downside correction, bitcoin price started a fresh increase above USD 61,500. BTC was able to clear the USD 62,000 resistance level and surpassed USD 62,500. The first key resistance is near the USD 63,000 and USD 63,200 levels. A close above USD 63,200 may possibly increase the chances of a move towards the USD 65,000 level in the near term.

On the downside, the bulls could remain active near the USD 62,000 level. The first major support is near USD 61,200, below which the price might decline towards USD 60,000.

Ethereum price

Ethereum price is back above the USD 4,100 level, but it is struggling to gain momentum. An immediate barrier for ETH is near the USD 4,180 level. The main breakout resistance is forming near the USD 4,200 level, above which the price might climb towards the USD 4,320 level.

If there is another decline, the price might find support near USD 4,050. The key breakdown support is at USD 4,000, below which the bears may perhaps gain strength.

ADA, LTC, DOGE, and XRP price

Cardano (ADA) is showing a few bearish signs below the USD 2.18 level. An initial support is near the USD 2.12 level. The next major support is USD 2.10, below which the price might decline towards the USD 2.05 level in the coming sessions.

Litecoin (LTC) is attempting a fresh increase above the USD 192 level. On the upside, the USD 200 level is a key hurdle. A close above USD 200 could lift the price towards the USD 220 and USD 225 levels. If there is another decline, the price might find bids near USD 185.

Dogecoin (DOGE) settled above the USD 0.250 level. It is now consolidating near the USD 0.250 level. A close above USD 0.280 could set the pace for a larger increase. The next key resistance is near the USD 0.300 level. On the downside, the previous resistance near USD 0.250 might act as a support.

XRP price is moving lower and it could decline further below USD 1.08. The next key support is near USD 1.05, below which there is a risk of a larger drop towards the USD 1.00 and USD 0.95 levels. On the upside, the USD 1.12 level is a pivot zone.

Other altcoins market today

A few altcoins are up over 5%, including CRV, GRT, AXS, KCS, SOL, RUNE, EGLD, FTM, LINK, and PERP. Out of these, CRV is still up over 18% and trading above the USD 4.20 level.

To sum up, bitcoin price is showing positive signs above the USD 62,000 level. If BTC settles above USD 63,200, it could gain bullish momentum in the near term.

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