- The total crypto market cap failed to surpass the key $280.0 resistance area.
- Bitcoin price started a downside correction and traded below the $10,800 support.
- Litecoin (LTC) price is struggling to correct higher and is testing the $75.00 support.
- BCH price is currently correcting lower and it might test the $305 support area.
- Tron (TRX) price is extending losses and it remains in a strong downtrend below $0.0185.
- Cardano (ADA) price broke the key $0.0500 support level to extend its slide.
Bitcoin (BTC) and the crypto market cap are currently approaching key supports. Ethereum (ETH), LTC, BCH, EOS, cardano, ripple, TRX, XLM and BNB might struggle to bounce back.
Bitcoin Cash Price Analysis
Bitcoin cash price failed to gain strength above the $320 resistance area against the US Dollar. The BCH/USD pair started a fresh downward move and broke the $315 level. The price is now approaching the $310 support, but it seems like it might test the $305 support level in the near term.
On the upside, there are many important hurdles for the bulls near the $320 and $330 levels. Conversely, a downside break below the $305 support might call for more losses.
Cardano (ADA), Litecoin (LTC) and Tron (TRX) Price Analysis
Litecoin price remained in a bearish zone below the $80.00 support level. LTC price is struggling to correct higher and is testing the $75.00 support. If there is a downside break below the $75.00 support, the bears could aim the $72.00 and $70.00 support levels. On the upside, the main resistances are near the $80.00 and $82.00 levels.
Tron price is extending its decline and is trading well below the $0.0180 and $0.0185 resistance levels. TRX price is now approaching the $0.0172 support level, below which there is a risk of another slide towards the $0.0165 support level.
Cardano price struggled to stay above the $0.0520 and $0.0500 support levels. ADA price is now trading near the $0.0480 level. If the bears remain in action, there are chances of a drop towards the $0.0450 level in the coming sessions. On the upside, the previous supports near $0.0500 and $0.0520 are likely to prevent gains.
Looking at the total cryptocurrency market cap 4-hours chart, there was a decent upward move above the $270.0B resistance level. However, the $278.0B and $280.0B resistance levels acted as a strong barrier and prevented gains. The market cap is currently correcting lower, but it might find support near the $265B level. There is also an ascending channel forming with support near the $265.0B level. If there is a downside break below $265.0B, bitcoin, Ethereum, EOS, litecoin, ripple, ADA, BCH, TRX, ICX, XLM and other altcoins could decline sharply in the near term.
