21 Oct 2021 · 2 min read

Bitcoin Consolidates While Ethereum and Altcoins Rally

  • Bitcoin price rallied further above USD 66,000 before correcting.
  • Ethereum surged above USD 4,000, XRP is testing USD 1.15.
  • SOL, NEXO, and OKB gained over 17%.

Bitcoin price formed a base above the USD 62,000 level and started a fresh increase. BTC surged above the USD 65,000 and USD 66,000 levels before correcting below USD 65,000. It is currently (04:27 UTC) back above this level, while new dips might remain limited below USD 63,500 in the near term.

Besides, most major altcoins started a fresh surge. ETH gained almost 9% and it broke the USD 4,000 resistance. XRP surpassed USD 1.12, but it is struggling to gain pace above USD 1.15. ADA surged above the USD 2.20 resistance zone.

Total market capitalization

Source: tradingview.com

Bitcoin price

After a minor drop, bitcoin price started a fresh rally above USD 63,000. BTC surged above the USD 65,000 and USD 66,000 levels. A new all-time high was formed above USD 67,000 (per Coingecko) before there was a downside correction. On the downside, an initial support is near USD 64,200. The first major support is near USD 63,500, below which the price could test the USD 62,500 support.

If there is a fresh increase, the price might face resistance near USD 65,500. The next major resistance is near USD 66,000, above which the price may possibly revisit the USD 67,000 level.

Ethereum price

Ethereum price started a fresh rally above the USD 3,880 resistance. ETH broke the USD 4,000 resistance and extended its increase. The price even cleared the USD 4,200 level. If there is a close above USD 4,200, the price could rise towards USD 4,320 in the near term.

On the downside, an initial support is near the USD 4,120 level. The first key support is now forming near the USD 4,050 level, below which the price might test USD 4,000.

ADA, LTC, DOGE, and XRP price

Cardano (ADA) broke the main resistance at the USD 2.20 level, which could push the price towards the USD 2.40 level. An intermediate resistance is near USD 2.32.

Litecoin (LTC) gained pace for a move above the USD 192 resistance. As a result, the price surged above the USD 200 level. It is up almost 12% and trading above USD 207. An immediate resistance is near USD 212, above which the price could rise towards the USD 220 and USD 225 levels.

Dogecoin (DOGE) is back above the USD 0.250 level. An initial hurdle is near the USD 0.265 level. The next major resistance is near USD 0.280, above which the price might test USD 0.300. On the downside, the USD 0.250 is a short-term support. The next key support is near the USD 0.232 level.

XRP price was able to clear the USD 1.12 resistance and it is now facing resistance near USD 1.15. A break above USD 1.15 might push the price towards the USD 1.20 resistance. If not, the price might correct lower towards the USD 1.10 level. The next major support is near USD 1.05.

Other altcoins market today

Many altcoins are up over 10%, including OKB, NEXO, SOL, FLOW, ENJ, REN, XEC, HT, RUNE, CELO, and QTUM. Out of these, OKB gained 21% and surpassed the USD 25 level.

Overall, bitcoin price is trying to recover above USD 65,000. In case of more dips, the bulls might remain active near the USD 63,500 and USD 63,000 levels in the near term.

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