technical analysis altcoins

Bitcoin, Crypto Market Cap Holding Crucial Support: BCH, BNB, LTC, TRX Analysis

Avatar Aayush Jindal 6 months ago
  • The total crypto market cap surged towards $380.0B before correcting towards the $325.0B support.
  • Bitcoin price rallied towards the $14,000 level before it corrected sharply towards the $12,000 support.
  • Binance coin (BNB) price corrected lower and tested the key $35.00 support area.
  • Litecoin (LTC) price is holding the main $130.00 support area.
  • Bitcoin cash price failed to stay above the $500 level and it recently corrected towards $480.
  • Tron (TRX) price is down more than 5% and it is currently trading near the $0.0360 support.

The crypto market cap, bitcoin (BTC) and Ethereum (ETH) are holding important uptrend supports. Conversely, there were a few bearish moves in BNB, litecoin, ripple, bitcoin cash, TRX, XLM and EOS.

Bitcoin Cash Price Analysis

There were sharp gains in bitcoin cash price above the $480 and $500 levels against the US Dollar. The BCH/USD pair even spiked above the $510 level, but it failed to continue higher. As a result, there was a downside correction below the $500 and $490 support levels.

The price is now trading above the $480 support and it seems like it could recover towards the $495 or $500 resistance level in the near term. Conversely, if there is a downside break below $480, the price is likely to retest the main $460 support level.

Binance Coin (BNB), Litecoin (LTC) and Tron (TRX) Price Analysis

Binance coin (BNB) price failed to push above the $40.00 resistance and it recently declined below the $38.00 and $37.20 support levels. BNB price is now trading just above the $35.00 support, with a few positive signs.

Litecoin price is still struggling to clear the $140.00 and $142.00 resistance levels. LTC price declined below the $134.00 support and it recently tested the $130.00 support. If there are more losses, the price may even slide towards the $125.00 support area.

Tron price made a nice attempt to climb above the $0.0390 and $0.0395 resistance levels, but it failed. TRX price is down around 5% and it broke the $0.0375 and $0.0370 support levels. The next key support is near the $0.0360 level. On the upside, the main resistance is now at $0.0375.

Bitcoin Crypto Market Cap Altcoins ETH, XRP, BCH, LTC, EOS, TRX, ADA

Looking at the total cryptocurrency market cap hourly chart, there was a strong rise above the $325.0B resistance level. The market cap gained more than $50.0B and surged towards the $380.0B level. A swing high was formed near $380.7B before there was a sharp downside correction. It broke the key $350.0B support level and revisited the last major hurdle at $325.0B, which now acted as a support. The market cap recovered and it seems like there could be a fresh increase in bitcoin, Ethereum, EOS, litecoin, ripple, binance coin, BCH, TRX, XMR, XLM and other altcoins in the near term.

Tags: BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Nexo

Instant Crypto Credit Lines™ from only 5.9% APR - unlock your crypto-wealth tax-efficiently, without selling it. Earn up to 8% interest per year on your Stablecoins, USD, EUR & GBP. $100 million custodial insurance.

Ad
Show comments