Highlight from the Cryptocurrency Market on November 18, 2021
Bitcoin price finds support at USD 58,500 and recovers on November 18, 2021 in the crypto market. Bitcoin has reclaimed its previous high of $60,000. If the price closes above $ 61,200, it may head towards the $ 62,500 resistance level
Bitcoin Price on November 18, 2021 in the Cryptocurrency Market
Following a dramatic drop, Bitcoin's price found support near $58,500. BTC began to rise and reached a high of $60,000. On the downside, the price could be hovering around $61,000. If the price closes above $61,000, it may be pushed towards the $62,500 resistance level.
Initial support, on the other hand, is near $ 60,200. The next major support level is around $ 60,000, below which a new decline could start.
Ethereum Price on November 18, 2021, in the Crypto Market
The price of Ethereum is still well above $ 4,000 and $ 4,050. As a result, the price has risen above the USD 4,250 resistance level. The price even broke through the $4,300 barrier and is now hovering around it.
Initial support is near $ 4,250 on the downside. The price can test $ 4,050 if it breaks through the main support level of $ 4,180.
November 18, 2021: ADA, BNB, SOL, SHIB, and XRP on the Cryptocurrency Market
Cardano (ADA) has risen above the resistance levels of $ 1.88 and $ 1.90. On the flip side, the price could face sellers near $ 1.92 and $ 1.95. The main hurdle for the bulls is currently near the $ 2.00 mark.
Binance Coin (BNB) tested the USD 550 support. A base is formed and the price is currently moving up. If there is a break above $ 590, the price could breakthrough as much as $ 600. Conversely, a further decline towards the USD 565 support is possible.
Solana (SOL) is moving higher and trading near the $ 220 mark. Immediate resistance is near the $ 225 level. Any significant move above this level could push the price towards the USD 235 resistance.
SHIB tries to recover, but it runs across resistance near $ 0.0000050. If the price breaks above $ 0.0000500, the price may rise even further. The next major resistance is near $ 0.0000525, and a rally to $ 0.0000055 is possible if it is overcome.
The price of XRP has risen about 6% and has broken above the $ 1.12 resistance level. Currently, the price is approaching the $ 1.15 resistance level. In the immediate term, any other increase is expected to push XRP towards the $ 1.20 obstacle.
Today's Cryptocurrency Market: Another Altcoin Market Nov 18, 2021
CRO, KDA, IMX, KCS, AVAX, UMA, WAXP, YFI, AUDIO, SAND, CRV, MATIC, and MINA are among the cryptocurrencies that have gained more than 8%. The CRO, for example, increased by 46 percent to $ 0.55. In the meantime, the IOTX and LRC are down around 10%.
Overall, the Bitcoin price is holding steady above $ 60,000. BTC could bounce to the $ 62,500 resistance area if it breaks above $61,000.