Bitcoin And Crypto Market Cap Resume Decline: LTC, BNB, BCH, TRX Analysis

Aayush Jindal

1 year ago

2 mins read

Bitcoin Crypto Market Altcoins BCH ETH XRP BNB ADA TRX EOS

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The total crypto market cap failed to climb above the $220.0B resistance and declined recently.
Bitcoin price is down 3% and it is now trading below the $8,000 support area.
Binance coin (BNB) price failed to stay above the $18.00 support and resumed its decline.
Litecoin (LTC) price is down around 4% and it is approaching the $52.00 support zone.
BCH price is down nearly 6% and it is now testing the $215 support area.
Tron (TRX) price is declining and is trading below the key $0.0150 support area.

The crypto market cap and bitcoin (BTC) are gaining bearish momentum. Ethereum (ETH), litecoin, ripple, BCH, TRX, XLM, BNB and EOS are likely to extend downsides.

Bitcoin Cash Price Analysis

Yesterday, BCH price made an attempt to surpass the $235 and $240 resistance levels against the US Dollar. However, BCH failed to continue higher and started a fresh decline. It broke the $225 level and it is now trading near the $220 level.

The next key support is near the $215 level, below which it could revisit the $205 support. On the upside, an initial resistance is near the $230 level, but the main hurdles are still $235 and $240.

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

Binance coin (BNB) struggled to climb above the $18.80 resistance this week and recently declined below the $18.20 support. BNB price is now trading below the $18.00 support and it could continue to decline towards the $17.60 and $17.50 support levels. On the upside, the $18.00 and $18.20 levels are now hurdles for a fresh increase.

Litecoin price made many attempts to break the $55.00 and $55.50 resistance levels, but it failed. As a result, LTC price declined recently and broke the $53.50 support. An immediate support is near the $52.00 level, below which it could slide towards the $50.50 and $50.00 support levels.

Tron price failed to stay above the $0.0152 and $0.0150 support levels. TRX price is currently down 5% and it is likely to decline towards the $0.0145 support level. If there are more downsides, the next stop for the bears might be near the $0.0142 level.

Looking at the total cryptocurrency market cap 4-hours chart, there was a significant failure near the $218.0B and $220.0B levels. As a result, the market cap declined recently and broke the $212.0B support area. An immediate support is near the $205.0B area, below which there is a risk of an extended decline towards the $200.0B area.

Bitcoin Crypto Market Altcoins ETH XRP EOS BNB TRX ADA LTC — Crypto Market Cap

On the upside, the main hurdles are near the $215.0B and $220.0B levels. Overall, there is a risk of more downsides in bitcoin, Ethereum, EOS, litecoin, ripple, binance coin, BCH, TRX, XMR, XLM and other altcoins in the near term.

Aayush Jindal

Aayush Jindal, a luminary in the world of financial markets, whose expertise spans over 15 illustrious years in the realms of Forex and cryptocurrency trading. Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis.

From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation.
As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape.

In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions.

Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he's trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences.

Aayush's journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department.

At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he's poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush's unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe.

In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.