Analysis Technical

Crypto Market Update: Litecoin (LTC), Bitcoin Cash, Tron (TRX), ADA Price Analysis

Aayush Jindal | December 12, 2018 | 6:00 am
technical analysis altcoins
Analysis

Crypto Market Update: Litecoin (LTC), Bitcoin Cash, Tron (TRX), ADA Price Analysis

Aayush Jindal | December 12, 2018 | 6:00 am

Key Points

  • The total crypto market cap extended declines and tested the $102.00B level.
  • Litecoin (LTC) price is struggling below the $30 resistance, with a bearish angle.
  • Bitcoin cash price is currently consolidating near the $100 level.
  • Tron (TRX) is currently flat near the $0.0132 level, with range moves.
  • Cardano (ADA) price declined below the $0.0300 support level.

Bitcoin cash traded above $100 and it is currently consolidating. Litecoin (LTC), Tron (TRX) and Cardano (ADA) remain in a bearish zone, with chances of more losses.

Bitcoin Cash Price Analysis

Bitcoin cash price managed to move back above the $100 level recently, but it facing a lot of hurdles near the $105 and $110 levels. If BCH/USD continues to struggle to climb above $110, there could be a fresh decline below $100 and $95 in the near term.

The key support is at $92, below which the price slide towards $85. On the upside, the price must break the $105 and $110 resistance levels to move into a positive zone.

Litecoin (LTC), Tron (TRX) and ADA Price Analysis

Litecoin price faced a lot of selling interest near the $30 and $28 levels recently. LTC declined and traded close to the $20 support area. The price is currently consolidating above $22 and it may perhaps correct higher towards $26 or $28.

During the past two days, there were only range moves above the $0.0130 level in tron price. On the upside, the price seems to be struggling to clear the $0.0135 and $0.0140 resistance levels.

Cardano price faced an increased selling pressure and declined below the $0.0300 support. ADA is down around 2% and it seems like the price may decline further towards the $0.0285 or $0.0280 support.

Cryptoc Market Cap Total

Looking at the total cryptocurrency market cap hourly chart, there was a downside extension below the $105.00B support. The market cap tested the $102.00B support zone and it is currently in a range. On the upside, there are many resistances near $105.00B and a bearish trend line. Therefore, upsides are likely to remain capped in Bitcoin, Ethereum, neo, litecoin, ripple, and other altcoins in the near term.

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