- The total crypto market cap is correcting higher towards the key $265.0B resistance area.
- Bitcoin price corrected more than 2%, but it facing hurdles near $9,700 and $9,800.
- Binance coin (BNB) price is correcting higher towards the $28.00 and $28.50 resistance levels.
- Litecoin (LTC) price is likely to face a strong resistance near the $95.00 level.
- BCH price gained more than 5% and it broke the main $320 resistance area.
- Tron (TRX) price stayed above the $0.0210 support and recently corrected above the $0.0220 level.
Bitcoin Cash Price Analysis
After a successful close above the $300 pivot level, BCH price started a decent upward move against the US Dollar. The BCH/USD pair broke the key $315 and $320 resistance levels to move into a positive zone. It is now up more than 5% and is trading above the $325 level.
If it continues to rise, the next major resistance is near the $340 level. Conversely, if there is a downside correction, the previous resistances near $320 and $315 are likely to provide supports in the near term.
Binance Coin (BNB), Litecoin (LTC) and Tron (TRX) Price Analysis
Binance coin (BNB) price stayed above the $25.00 and $25.20 support levels. BNB price is currently correcting higher above the $27.00 resistance level. On the upside, the main resistances are $28.00 and $28.50, where the bulls are likely to face a strong resistance.
Litecoin price found support near the $88.00 level and recently corrected above the $90.00 level. LTC price is now approaching the $92.00 resistance, above which the price could test the main $95.00 resistance area.
Tron price declined heavily and even traded close to the $0.0210 support area. TRX price is currently correcting higher and is trading above the $0.0220 level. On the upside, the bulls might struggle to surpass the $0.0230 and $0.0232 resistance levels in the near term.
Looking at the total cryptocurrency market cap 4-hours chart, there was a decent support base formed near the $248.0B level. The market cap is currently correcting higher towards the key $265.0B and $270.0B resistance levels. There is also a major bearish trend line forming near the $265.0B level and the 100 SMA. A successful close above the $270.0B level and the 100 SMA is needed for more gains. If the market cap fails to break the $270.0B resistance, there could be a fresh bearish wave in bitcoin, Ethereum, EOS, litecoin, ripple, binance coin, BCH, TRX, XMR, XLM and other altcoins in the coming sessions.