Bitcoin And Crypto Market Cap Declining: BCH, BNB, EOS, TRX Analysis

  • The total crypto market cap is declining and it is now well below the $200.0B resistance.
  • Bitcoin price is down close to 2% and it is now trading below the $7,400 support.
  • EOS price is approaching the $2.600 support area and it could bounce back.
  • Binance Coin (BNB) is currently down around 3% and it is struggling to stay above $15.00.
  • BCH price is slowly moving down towards the main $205 and $200 support levels.
  • Tron (TRX) price is declining towards the main $0.0140 support area.

The crypto market cap and bitcoin (BTC) are struggling to continue higher and


declining. Ethereum (ETH), binance coin (BNB), ripple, BCH, tron (TRX), litecoin and EOS are under pressure.

Bitcoin Cash Price Analysis

After a short term upward move, bitcoin cash price failed to climb above the key $220 and $225 resistance levels against the US Dollar. The BCH/USD pair is currently declining and it is trading below the $210 level.

On the downside, the first key support is near the $205 level, below which the price is likely to test the main $200 support area in the near term. On the upside, a clear break above $225 is needed for a decent increase.

Binance Coin (BNB), EOS, Tron (TRX) Price Analysis

EOS price failed to surpass the $2.850 resistance area and it is currently declining. The price is down 3% and it is trading near the $2.600 support. If there are more losses, the next major support is seen near the $2.500 level. On the upside, the $2.700 level might protect gains.

Tron price is under a lot of pressure and it is now trading well below $0.0145. An initial support is near the $0.0142 level. However, the main support for TRX price is near the $0.0140 level, below which there is a risk of an extended decline.

Binance coin (BNB) faced a strong selling interest near the $15.80 and $16.00 resistance levels. As a result, BNB price declined and it is now trading below $15.25. An initial support is near $15.05 and $15.00, below which the bears are likely to take control in the near term.

Crypto Market Cap Bitcoin

Crypto Market Cap

Looking at the total cryptocurrency market cap 4-hours chart, the $200.0B level acted as a strong resistance. The crypto market cap is currently declining and it recently broke a major contracting triangle with support near the $195.0B level.

If the recent breakdown is real, there is a risk of more downsides in bitcoin, Ethereum, TRX, LTC, EOS, ripple, ADA, XLM, WTC, BCH, and ICX. If not, the market could make another attempt to climb above $200.0B and $205.0B.

Source link

Leave a Comment

Your email address will not be published.