Bitcoin And Crypto Market Cap Turn Red: BCH, Litecoin, XTZ, TRX Analysis
- The total crypto market cap is declining and struggling to stay above the $188.0B support.
- Bitcoin price is down more than 2% and it broke the $7,320 support area.
- Litecoin (LTC) price is sliding and it may soon test the $42.20 level.
- BCH price is struggling and it seems like it could break the $200 support area.
- Tron (TRX) price is currently consolidating near the main $0.0140 support area.
- Tezos (XTZ) it outperforming and it is now trading nicely above $1.500.
The crypto market cap and bitcoin (BTC) are declining and facing hurdles. Tezos (XTZ) is rising, while Ethereum (ETH), litecoin (LTC), ripple, BCH, tron (TRX), and other altcoins are sliding.
Bitcoin Cash Price Analysis
After struggling to clear the $225 resistance, bitcoin cash price started a slow decrease against the US Dollar. BCH price traded below the $215 and $210 levels. It is currently trading near the $205 support and it seems like it could continue to decline.
If the bulls fail to defend the main $200 support, there is a risk of a downside extension in the near term. The next major support is near the $185 level.
Litecoin (LTC), Tron (TRX) and Tezos (XTZ) Price Analysis
Litecoin price is still following a bearish pattern below the $46.20 and $48.00 resistance levels. LTC is now trading below $45.00 and it seems like it could even trade below $44.00. In the mentioned case, the next key support is seen near the $42.20 level, below which the price may perhaps test $40.00.
Tron price is now trading well below the $0.0150 pivot level. TRX price is struggling and it might decline below the $0.0140 support area. If the bears gain traction below $0.0140, the price could trade towards the $0.0135 and $0.0132 levels.
Tezos performed really well in the past few days and it surpassed the market cap of cardano and tron. XTZ price is now trading nicely above the $1.4000 and $1.5000 resistance levels. However, there could be a short term downside correction towards the $1.4200 level.
Crypto Market Cap
Looking at the total cryptocurrency market cap 4-hours chart, there was another failure near the $200.0B resistance area. The crypto market cap declined recently below the $195.0B support. It is now approaching the $188.0B support, below which there is a risk of further losses. The next major support is near the $182.0B level.
Conversely, a successful close above the $200.0B resistance is needed for a nice recovery in bitcoin, Ethereum, EOS, litecoin, ripple, XLM, BCH, BNB, TRX, ADA, XMR, and other altcoins in the near term.
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