- The total crypto market cap is currently declining and it could test $220.0B support.
- Bitcoin price is under pressure and it is likely to break the $8,500 support area.
- EOS price is now trading near the $3.350 support area and showing bearish signs.
- BCH price failed to stay above the key $280 support and extended its decline.
- Tron (TRX) price is down more than 4% and it is approaching the $0.0185 support area.
- Cardano (ADA) price is now trading near the key $0.0420 support area.
Bitcoin and the crypto market cap are currently signaling more downsides. Ethereum (ETH), EOS, Tron (TRX), BCH, ripple, ADA and BNB are under a lot of selling pressure.
Bitcoin Cash Price Analysis
Recently, BCH price started a fresh decrease from the $300 resistance level against the US Dollar. It declined below the $285 support and the bulls even failed to defend the key $280 support area. As a result, the price declined sharply and it is now approaching the $265 and $264 support levels.
On the upside, the previous important supports near the $285 and $280 level may now act as a hurdle and prevent a fresh increase in the near term.
EOS, Tron (TRX) and ADA Price Analysis
EOS price failed to stay above the $3.500 support area and it declined below the $3.400 support. The price is now trading near the $3.350 support area. If there are more downsides, the next stop for the bears might be near the $3.250 level. On the upside, the $3.500 level is likely to act as a strong resistance.
Recently, tron price climbed above the $0.0200 resistance area. However, TRX failed to gain strength above the $0.0205 resistance and started a fresh decline. It broke the $0.0200 and $0.0195 levels. It seems like the bears are once again eye the $0.0185 support area.
Cardano price failed to continue above the $0.0445 and $0.0450 resistance levels. ADA price is currently declining and it is now trading near the $0.0420 support area. If there are more downsides, the next stop could be $0.0400, where the bulls are likely to appear.
Crypto Market Cap
Looking at the total cryptocurrency market cap 4-hours chart, there was a steady decline from the $235.0B and $240.0B resistance levels. The market cap declined below the $230.0B level and it seems like there is a risk of another break down towards the $220.0B support area. On the upsides, the $230.0B level is an initial resistance, above which it could test the $240.0B resistance.
Overall, there is a risk of more losses in bitcoin, ETH, XRP, TRX, ADA, bitcoin cash, litecoin, EOS, stellar, IOTA, ICX, WAN, and other altcoins in the near term.
