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28 October 2021
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Ethereum

Bitcoin Tests USD 45K, Ethereum Struggles Above USD 3K

  • Bitcoin price tested the key resistance at USD 45,000.
  • Ethereum struggled to gain strength above USD 3,150, XRP is consolidating near USD 1.00.
  • NEAR and XTZ are up over 12%.

Bitcoin price gained pace after it broke the USD 43,500 level. BTC broke the USD 44,000 resistance and it even tested the USD 45,000 level. The price is currently (04:35 UTC) correcting lower, but the bulls might be active near USD 44,000 or USD 43,500.

Similarly, most major altcoins could correct lower. ETH spiked towards USD 3,175 before it dipped below USD 3,100. XRP is struggling to settle above the USD 1.00 pivot level. ADA could extend its increase above USD 2.35 and USD 2.40.

Total market capitalization

Source: https://www.tradingview.com/

Bitcoin price

After a close above USD 43,500, bitcoin price was able to clear the USD 44,000 level. As a result, BTC extended its increase and tested the next major resistance at USD 45,000. The bears were active near USD 45,000, resulting in a downside correction. On the downside, an immediate support is near USD 44,000. The next key support is now forming near USD 45,500, below which the price could struggle in the coming sessions.

On the upside, an initial hurdle is near the USD 45,000 level. The next major resistance might be USD 45,500, above which the price might test USD 46,200.

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Ethereum price

Ethereum price was able to clear the USD 3,150 level, but there was no upside continuation. ETH failed to test the USD 3,200 resistance and corrected lower. It traded below USD 3,100 and it might even revisit USD 3,025. The next major support is near USD 3,000.

If there is a fresh increase, the bulls might gain strength for a test of USD 3,200. To continue higher, the price must settle above USD 3,200.

ADA, LTC, DOGE, and XRP price

Cardano (ADA) settled above the USD 2.20 level and it extended its increase. The price was able to surpass the USD 2.30 level before correcting lower. The next major resistance is near USD 2.35, above which the price could revisit the USD 2.50 level. If there is a downside correction, ADA might find bids near USD 2.20.

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Litecoin (LTC) is consolidating near the USD 160 level. An immediate hurdle is near the USD 165 level. A clear break above USD 165 could start a steady increase. The next major resistance is near the USD 175 level, above which the bulls might test the USD 188 level.

Dogecoin (DOGE) is holding gains above the USD 0.220 level. However, it is facing resistance near the USD 0.230 and USD 0.232 levels. A close above USD 0.232 may possibly open the doors for a move towards the USD 2.50 level.

XRP price is struggling to settle above the USD 1.00 level. There is also a key hurdle near USD 1.05. A close above USD 1.00 and USD 1.05 could set the pace for a larger increase. If not, the price could dip towards the USD 0.880 support. 

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Other altcoins market today

Many altcoins are up over 5%, including REN, RUNE, NEAR, XTZ, ONE, TEL, CRV, GRT, QNT, COMP, and SHIB. Out of these, REN rallied almost 24% and surpassed the USD 1.00 level. Meanwhile, SUSHI, FTM, and HBAR are down by 4%.

Overall, bitcoin price is trading in a positive zone above USD 44,000. BTC could correct lower in the short-term, but the bulls might remain active near the USD 43,500 level.

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