- The total crypto market cap failed to break the $290.0B resistance and recently declined below $275.0B.
- Bitcoin price is down around 3% and it recently broke the $10,500 support area.
- EOS price is down 5% after it failed to gain strength above the $4.400 resistance area.
- BCH price failed to hold the $320 support and traded towards the $310 level.
- Tron (TRX) price declined sharply by around 10% and broke the key $0.0280 support.
- Cardano (ADA) price remains in a bearish zone below the $0.0650 support area.
Bitcoin Cash Price Analysis
Recently, bitcoin cash price recovered above the $320 resistance against the US Dollar. The BCH/USD pair even tested the $340 level, but it struggled to continue higher. As a result, there was a downside correction and the price recently broke the $320 support level.
At the moment, the price is trading near the $310 level and it might soon test the $300 support level. If there are more losses, the price could even revisit the key $285 support level in the near term.
EOS, Tron (TRX) and ADA Price Analysis
EOS price failed to gains strength above the $4.400 resistance levels and recently trimmed gains. It broke the $4.250 and $4.200 support levels and is currently trading just above the $4.100 level. The main support is near $4.000, below which the price could accelerate losses in the near term.
Tron price was rejected above the $0.0300 and it recently started a sharp downward move. TRX price is down more than 10% and it broke the $0.0280 support level. An immediate support is near $0.0262, below which it could test the $0.0250 support level.
Cardano price is trading in a bearish zone below the $0.0650 pivot level. ADA price declined below the $0.0620 and $0.0600 support levels and it seems like it could continue to decline towards the $0.0575 level.
Looking at the total cryptocurrency market cap 4-hours chart, there was a rejection pattern formed near the $290.0B resistance level. The market cap declined recently and broke the $280.0B support level. It even broke the $275.0B support level and a connecting bullish trend line on the same chart. Therefore, there are chances of more losses towards the $260.0B or $250.0B support. On the upside, the broken support near $280.0B might act as a solid resistance. Overall, upsides in bitcoin, ETH, XRP, TRX, ADA, bitcoin cash, litecoin, EOS, stellar, IOTA, ICX, WAN, and other altcoins are likely to face hurdles in the near term.