Analysis Technical

Crypto Market Update: Monero (XMR), Bitcoin SV, Tron (TRX), ADA Price Analysis

Aayush Jindal | December 11, 2018 | 6:00 am
technical analysis altcoins
Analysis

Crypto Market Update: Monero (XMR), Bitcoin SV, Tron (TRX), ADA Price Analysis

Aayush Jindal | December 11, 2018 | 6:00 am

Key Points

  • The total crypto market cap extended declines below $107.00B and it could slide further.
  • Monero (XMR) price is under pressure below $50 and it could test $40.
  • Bitcoin SV price is declining towards the $90 support level.
  • Tron (TRX) is stable above the $0.0130 support level.
  • Cardano (ADA) price is down more than 3% and is testing the $0.0300 support level.

Bitcoin SV is struggling to recover above the $100 handle. Monero (XMR), Tron (TRX) and Cardano (ADA) are down and they could continue to decline in the short term.

Bitcoin SV Price Analysis

After a push above the $100 handle, bitcoin SV failed to hold gains and declined below the $98 and $95 support levels. The price is down around 7% and it seems like it may test the $90 support level. If there are more losses, the price may even test the $88 level.

On the upside, key hurdles are near the $98 and $100 levels. As long as the price is below $100, bitcoin SV is likely to extend losses in the coming sessions.

Monero (XMR), Tron (TRX) and ADA Price Analysis

Monero price declined heavily recently after it broke the $50 support level. XMR is down around 6% and it may continue to slide towards the $42 or $40 support levels. On the upside, the main resistance is at $50, above which the price could climb higher.

Tron price is currently flat near the $0.0135 level. On the downside, an initial support is at $0.0130, followed by the key $0.0120 level. On the upside, TRX buyers need to clear the $0.0150 resistance for a decent recovery.

Cardano price is still holding the $0.0300 support level. If ADA sellers gain pace below $0.0300, there are chances of heavy losses towards the $0.0285 and $0.0280 support levels. Resistances are at $0.0315 and $0.0320.

Cryptoc Market Cap Total

Looking at the total cryptocurrency market cap hourly chart, there was a rejection near the $113.00B level. The market cap declined recently below $110.00B and $108.00B, and it is currently near a major bullish trend line with support at $105.00B, below which the next stop could be $100.00B. Therefore, there are chances of more losses in bitcoin, Ethereum, ADA, ripple, tron, XLM and other altcoins in the next few hours.

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