Disclaimer: The following news is not intended as investment advice. This is only provided for informational purposes and should not be treated as any form of financial advice.
The cryptocurrency industry has had significant growth since the beginning of 2021, with no end in sight. Furthermore, several cryptocurrencies were able to deliver close to 100% return on investments this year. Recently the Ethereum outperformed bitcoin as it went to an all-time high of $4,634 while bitcoin is in resistance at $63k.
Bitcoin is an online alternative currency system, which acts as a form of digital money. It was first established in 2009 by a pseudonymous developer named Satoshi Nakamoto. The reason why bitcoin is extremely famous is that it operates independently without needing a bank.
Following a Breakout Past $62,500, Bitcoin Price Began a Fresh Rise
BTC went above $63,500 and then passed through $64,000. It did not, however, cross the $65,000 mark. The price of Bitcoin fell as low as $63,500 on October 30th before beginning to stage a comeback. On the negative side, initial support is only around the $63,000 mark. The $65,000 mark is the primary support now, with a potential move to $61,200 if it breaks below.
Another downside, immediate resistance is presently near the USD 63,500 mark. The main hurdle is near $64,000; if the price breaks through this level, it could gradually increase.
The price of Ethereum skyrocketed by more than 5%, and it broke the USD 4,500 barrier. ETH has completed its rise to a new all-time high near USD 4,650 and is now consolidating gains. On the downside, initial support is near the USD 4,530 level. The following critical support is near USD 4,500, below which the price might go $4,400.
If the price rises again, it may rise towards the USD 4,650 mark. The next significant barrier is around the $4,750 level.
BNB, ADA, SHIB, SOL, and XRP Prices
BNB: The BNB price is now bullish as it broke the $540 resistance level. On the upside, an initial resistance is near the $565 level. Immediate support is found at $545 below, which there could be a downside correction in the coming days. A break above $565 could push the price toward $580 and $600.
ADA: ADA is attempting to break through the $2 barrier, but it’s struggling. A rally past $2 may lead to more significant gains. The $2 mark is the next critical barrier. If the price drops further, it could reach the $1.92 support level.
SOL: Solana is up 11%, and it has gone through the $220 resistance level. The main obstacle is at the $235 mark. The main barrier is now at the $250 level. The price, on the other hand, might decline towards the $220 level.
SHIB: The SHIB has plunged lower, down more than 6%, and even approaching the $0.000065 support level. The $0.000062 support is next, with a possible upside push to the $0.000060.
XRP: The price of XRP was able to break above $1.12 and rise to $1.18, which may lead to further gains. If not, the price could fall towards $1.05.