03 Nov 2021 · 2 min read

Ethereum Outperforms Bitcoin, SOL Flips ADA

  • Bitcoin price is facing resistance near USD 63,000.
  • Ethereum surged to a new all-time high above USD 4,600, XRP surpassed USD 1.12.
  • SOL rallied 11% and flipped ADA.

Bitcoin price surpassed the USD 62,500 and USD 62,650 resistance levels. BTC cleared the USD 63,000 zone and is currently (04:27 UTC) trading around this level. A close above USD 64,000 could push the price towards USD 65,500.

Besides, most major altcoins are gaining pace. ETH broke the USD 4,500 resistance and traded to a new all-time high of USD 4,634 (per Coingecko), before correcting lower. XRP is rising and is approaching USD USD 1.20. ADA is still below the USD 2.00 resistance.

Total market capitalization

Source: tradingview.com

Bitcoin price

After a close above USD 62,500, bitcoin price started a fresh increase. BTC rallied above USD 63,500 and USD 64,000. However, it failed to stay above USD 64,000. As a result, there was a fresh decline below USD 63,500. On the downside, an initial support is near the USD 63,000 level. The main support is now near the USD 62,500 level, below which the price might revisit USD 61,200. 

An immediate resistance on the upside is near the USD 63,500 level. The main barrier is near USD 64,000, above which the price might start a steady increase.

Ethereum price

Ethereum price jumped over 5% and it broke the USD 4,500 resistance. ETH traded to a new all-time high near USD 4,650 and is now consolidating gains. On the downside, an initial support is near the USD 4,550 level. The next key support is near USD 4,500 below which the price might test USD 4,400.

If there is a fresh increase, the price could rise towards the USD 4,650 level. The next key resistance is near the USD 4,750 level.

ADA, BNB, SOL, SHIB, and XRP price

Cardano (ADA) is struggling to clear the USD 2.00 resistance level. A close above USD 2.00 might push the price higher. The next major resistance is USD 2.12. If there is a fresh decline, the price could test the USD 1.92 support.

Binance Coin (BNB) gained pace for a move above the USD 550 level. An immediate hurdle is near the USD 565 level. A close above USD 565 could lead the price towards the USD 580 and USD 600 levels.

Solana (SOL) is up 11% and it broke the USD 220 resistance level. The first barrier is near the USD 235 level. The main resistance is now forming near the USD 250 level. Conversely, the price could correct lower towards the USD 220 level.

SHIB failed to stay above the USD 0.0000700 level. It is down over 6% and it even tested the USD 0.000065 support level. The next major support is near the USD 0.000062 level, below which it could test the USD 0.000060 level.

XRP price was able to climb above the USD 1.12 resistance level and move to USD 1.18, which might bring further gains. If not, the price could decline towards USD 1.05.

Other altcoins market today

Many altcoins are up over 8%, including AR, LRC, MKR, CRO, AMP, RVN, SCRT, XEM, MATIC, NEXO, HT, KLAY, and KSM. Out of these, AR gained over 44% and it broke the USD 80 level. Meanwhile, QTUM and  MANA are down over 9%.

Overall, bitcoin price is trading above the USD 62,500 pivot level. If BTC clears USD 64,000, it could start another steady increase.