- The total crypto market cap is struggling to break the key $220.0B resistance area.
- Bitcoin price is now trading well below the $8,400 and $8,500 resistance levels.
- Binance coin (BNB) price is slowly declining and it could test the $15.20 support area.
- Litecoin (LTC) price is somehow holding the key $55.00 support area.
- BCH price is consolidating above the key $220 support level, with bearish signs.
- Tron (TRX) price settled above the $0.0140 level, but it is facing hurdles near the $0.0150 level.
Bitcoin Cash Price Analysis
BCH price failed to clear the $235 resistance area and recently corrected lower against the US Dollar. The BCH/USD pair tested the $220 support level and it is currently trading in a range. If there is a downside break below the $220 support, the price could test the $205 or $200 support level.
On the upside, there are hurdles forming near the $230 and $235 levels. A clear break above the $235 resistance might push the price towards the $250 resistance area.
Binance Coin (BNB), Litecoin (LTC) and Tron (TRX) Price Analysis
Binance coin (BNB) price is currently trading in a range above the $15.00 support area. On the upside, BNB price is facing a strong resistance near the $16.00 and $16.20 levels. On the downside, a break below the $15.00 support could lead the price towards the $14.20 support.
Litecoin price is somehow holding the $55.00 support area. If LTC price breaks the $55.00 support level, there is a risk of another drop towards the $50.00 support area. On the upside, the price must break the $58.00 and $60.00 resistance levels to move into a positive zone.
Tron price recovered from the $0.0120 support area and it settled above the $0.0140 level. However, TRX price is now facing a strong resistance near the $0.0150 level. If there is a daily close above the $0.0150 resistance, there are chances of more upsides above the $0.0155 and $0.0160 levels in the near term.
Looking at the total cryptocurrency market cap 4-hours chart, there is a crucial resistance forming near the $220.0B level. Moreover, there is a connecting bearish trend line forming with resistance near $215.0B on the same chart. To start a strong upward move, the market cap must surpass the $220.0B resistance area. On the downside, the main support is near the $200.0B level. If there is a break below the $200.0B support, it could spark another drop in bitcoin, Ethereum, EOS, litecoin, ripple, binance coin, BCH, TRX, XMR, XLM and other altcoins in the near term.