Market highlights: Bitcoin and Ethereum retracts, major altcoins turn red
After increasing above $68,600 and setting a new all-time high, it has retracted below $67,000 as it corrects the recent bullish hike.
At the time of writing, BTC was trading at $66,852.66; 2.61% below the new all-time high.
Ethereum has also dipped after setting a new all-time high of $4,837.59.
At the time of writing, ETH was trading at $4,746.47; 1.95% below the new all-time high.
Bitcoin (BTC) has seen huge price movements in the last few days and analysts predict that it could find some resistance at $67,500 as it tries to retest the all-time high.
At the current price, experts have set their eyes on the support near $66,000, which analysts believe if broken downwards, BTC could test $65,500.
When Ethereum (ETH) started its current bull run, analysts believed it could test $5,000 before the end of the week. Instead, it has declined below $4,750 and consolidated above $4,700.
At the current price, experts have set their eyes on the support near $4,600, after which they believe the price could slide down further to $4,550.
On the upside, the immediate barrier is at $4,800, which experts believe if broken ETH would be on a ride towards the $5,000 target.
Major altcoins turn red
Most of the major altcoins include Cardano (ADA), Polkadot (DOT), Solana (SOL), Shiba Inu (SHIB), and Dogecoin (DOGE) have turned red today after a surge in the past few days.
Cardano (ADA) has dropped by 2.17% in the last 24 hours to trade at $2.24 after surging above $2.30 yesterday (Nov. 9). Experts have set their eyes on the $2.20 support level which could determine the direction the ADA shall take.
Other altcoins that have seen a drop in the last 24 hours include Polkadot (DOT) that dropped by 1.31% to trade at $51.48, Dogecoin (DOGE) that has dropped by 1.42% to trade at $0.272, Shiba Inu that has dropped by 3.91% to trade at $0.00005364, and Solana (SOL) that has dropped by 1.94% to trade at $241.32.