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Breaking News: LINK Price Climbs Following Chainlink's Deal With US Commerce Department, Eyes $30
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Breaking News: LINK Price Climbs Following Chainlink's Deal With US Commerce Department, Eyes $30

Crypto Market Dives $40 Billion In Nov, More Losses Likely: BNB, BCH, LTC, EOS Analysis

Aayush Jindal
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 is down close to $40.0B this month and remains bearish.
  • Bitcoin price is down around 3% today and it is now approaching the $8,000 support.
  • Litecoin (LTC) price is down around 5% and it broke the $60.00 support area.
  • BCH price is currently accelerating its decline below the $260 and $250 levels.
  • EOS price is down more than 6% and it is now trading near the $3.200 support area.
  • Binance coin (BNB) broke the key $20.00 support area to enter a bearish zone.

Bitcoin (BTC) and the crypto market cap are down sharply. Many altcoins such as Ethereum (ETH), binance coin (BNB), ripple, litecoin, BCH, EOS, TRX, and ADA are accelerating losses.

Bitcoin Cash Price Analysis

This week, there were sharp losses in BCH price below the $280 support level against the US Dollar. The bears gained momentum, resulting in heavy losses below the $270 and $265 levels. The price is now trading below the $250 level and it seems like it could continue to move down towards the $240 support.

If there is an upside correction, the $255 and $260 levels are likely to act as hurdles. The main resistance on the upside is now near the $280 level.

Binance Coin (BNB), Litecoin (LTC) and EOS Price Analysis

Binance coin (BNB) price failed to climb above the $21.00 resistance area. As a result, there was a sharp decline in BNB price below the $20.00 support area. The price is now trading well below the $19.50 level and it seems like the price is approaching the $18.80 support area.

Litecoin price is down more than 5% today and it failed to stay above the main $60.50 and $60.00 support levels. LTC price is now trading below the $58.00 level and it seems like the bears are aiming a test of the $55.00 support area. The next major support is near the $54.20 level.

EOS price is declining heavily below the $3.500 support area. It broke the $3.350 support area and it is now trading near the $3.200 support area. The next key support is near the $3.120 level, below which it could even test the $3.050 support.

Crypto Market Cap

Looking at the total cryptocurrency market cap hourly chart, there were sharp losses this month from the $250.0B resistance. The crypto market cap is down close to $40.0B and it is now approaching the $210.0B support. The next major support is near the $202.0B level.

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

Overall, there are chances of more downsides in bitcoin, Ethereum, EOS, litecoin, ripple, ADA, BCH, XLM, BNB, TRX, XMR, and other altcoins in the near term.

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Aayush Jindal
Aayush Jindal

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.

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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.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

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