Crypto Market Cap & Bitcoin Declining: BCH, Litecoin, ADA, TRX Analysis
- The total crypto market cap is struggling to stay above the $225.0B support area.
- Bitcoin price is down around 3% and it is trading well below the $9,000 level.
- Litecoin (LTC) price is declining, but it is still trading above the $60.00 support area.
- BCH price failed to surpass the $300 resistance and is correcting lower towards $285.
- Tron (TRX) price is slowly declining towards the $0.0185 support area.
- Cardano (ADA) price is trading in a range above the $0.0420 support area.
Bitcoin (BTC) and the crypto market cap are currently under pressure. Ethereum (ETH), LTC, BCH, EOS, cardano, ripple, TRX, XLM and BNB might extend losses.
Bitcoin Cash Price Analysis
Bitcoin cash price made a few attempts to climb above the $300 resistance area against the US Dollar. However, the BCH/USD pair failed to gain momentum above $300 and recently started a fresh decline. It is currently trading below $292 and it seems to be approaching the $285 support area.
If there is a downside break below the $285 and $280 support levels, the price could extend its decline towards the $265 support. On the upside, the $295 and $300 levels are decent hurdles for the bulls.
Cardano (ADA), Litecoin (LTC) and Tron (TRX) Price Analysis
Litecoin price is facing a strong resistance near the $64.50 and $65.00 levels. On the downside, there are many key supports near the $61.00 and $60.00 levels. Therefore, a downside break below $60.00 could start a major decline in the coming sessions.
Tron price is struggling to clear a major resistance near the $0.0200 level. TRX price is currently declining and is slowly moving towards the $0.0185 support. On the upside, the $0.0200 and $0.0205 are important hurdles, above which the price could revisit $0.0220.
Cardano price is currently consolidating above the $0.0420 support area. On the upside, the $0.0445 and $0.0450 levels are strong resistances. A successful close above $0.0450 is needed for a decent upward move. If not, the price might decline below the $0.0420 support area.
Crypto Market Cap
Looking at the total cryptocurrency market cap 4-hours chart, there was a downward move from the $240.0B and $242.0B resistance levels. The market cap declined below the $235.0B and $230.0B support levels. At the moment, it seems like the market cap is struggling to recover and also finding hard to hold the $225.0B support.
Therefore, there is a risk of more downsides in bitcoin, Ethereum, EOS, litecoin, ripple, ADA, BCH, TRX, ICX, XLM and other altcoins in the near term. Conversely, a break above the $235.0B and $240.0B resistance levels is needed for a decent rise in the coming sessions.
The post Crypto Market Cap & Bitcoin Declining: BCH, Litecoin, ADA, TRX Analysis appeared first on NewsBTC.
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Aayush Jindal, Khareem Sudlow
