Bitcoin Struggles, Ethereum Inches Higher, DOGE and SHIB Rally
- Bitcoin price is struggling to gain pace above USD 58,000.
- Ethereum climbed above USD 4,400, XRP is testing the USD 1.00 hurdle.
- DOGE gained 7%, while SHIB rallied 19%.
Bitcoin price attempted an upside break towards the USD 60,000 level. However, BTC failed to gain strength above the USD 58,000 and USD 58,500 levels. It is currently (04:24 UTC) consolidating near USD 57,200.
Besides, most major altcoins are gaining pace. ETH is up almost 3% and there was a break above the USD 4,400 level. XRP managed to reach the USD 1.00 resistance zone. ADA is facing resistance near the USD 1.60 level.
Total market capitalization
After a close above USD 57,000, bitcoin price was able to clear the USD 58,000 level. BTC even broke the USD 58,500 resistance and is currently consolidating below USD 58,000. If there is a fresh move above USD 58,500, the price could rise towards the USD 60,000 level. The next major resistance is near the USD 61,200 level.
On the downside, an initial support is near the 57,000 level. The next major support is now forming near the USD 56,500 level, below which the price might trim gains further.
Ethereum price gained pace for a move above the USD 4,400 and USD 4,420 resistance levels. ETH even tested the USD 4,500 level before correcting gains. If there is a break below USD 4,400, the price might test the USD 4,350 support.
An initial resistance on the upside is near the USD 4,500 level. A clear move above USD 4,500 may perhaps send the price towards the USD 4,650 level.
ADA, BNB, SOL, SHIB, and XRP price
Cardano (ADA) is moving higher, but it is facing resistance near USD 1.60. The next major resistance is near USD 1.62, above which the price might gain momentum. If not, it could drop towards the USD 1.52 support.
Binance coin (BNB) is up almost 2% and is testing the USD 620 level. The next major hurdle is near the USD 632 level, above which the price could accelerate higher. In this case, the price could rise towards the USD 650 level.
Solana (SOL) is consolidating above the USD 200 level. An immediate resistance is near USD 212, above which the price could rise towards the USD 225 level. Conversely, the bears might push the price towards the USD 192 support.
SHIB started a major increase above USD 0.000040 level. It gained 19% and broke the USD 0.0000470 level after Kraken said it will start supporting SHIB trading on November 30. The next key resistance is near the USD 0.000048 level, above which the price could rise towards the USD 0.000050 level.
XRP price managed to pop above the USD 1.00 level. The main resistance is now near USD 1.05. Any more gains could set the pace for a larger increase. The next major resistance is at USD 1.12.
Other altcoins market today
Many altcoins are up over 8%, including XTZ, STX, SHIB, OMG, HBAR, MATIC, AAVE, ZEN, CAKE, and DOGE, which is up 7%, trimming all its weekly losses and surpassing the USD 0.22 level.
Overall, bitcoin price is facing hurdles above the USD 58,000 level. If BTC continues to struggle, there could be a bearish reaction towards the USD 55,000 level.