- The total crypto market cap remains at a risk of a drop towards the $200.0B support.
- Bitcoin price is currently correcting higher, but there are many resistances near $8,250.
- Litecoin (LTC) price is currently consolidating above the $55.00 support area.
- Bitcoin cash price is now trading in a bearish zone below the $250 level.
- EOS price is under a lot of pressure and it is approaching the $3.050 support area.
- Stellar (XLM) price is now closing in towards the $0.0650 support area.
Bitcoin Cash Price Analysis
After a downside break, BCH price even failed to stay above the $265 support area. It declined heavily and settled below the $250 level. The price is now consolidating above the $225 support and it could correct higher. On the upside, there are many resistances near $255 and $265.
On the downside, the main support is now near $225, below which the price is likely to test the $200 support area in the near term.
Litecoin (LTC), EOS and Stellar (XLM) Price Analysis
Litecoin price declined heavily after it broke the $60.00 support area. Moreover, LTC price declined below the $58.00 support area and tested the $55.00 level. It is currently consolidating losses and it might correct higher to test the $58.00 resistance area in the near term.
EOS price fell significantly below the $3.500 and $3.350 support levels. It even tested the $3.050 support area and remains at a risk of more losses. If the bears push the price below the $3.050 support area, there are chances of a break below the $3.000 support area.
Stellar price is trading in a bearish zone below the key $0.0700 support area. XLM price broke the $0.0685 and $0.0650 support levels. The price is currently correcting higher, but it is likely to face resistance near $0.0685. On the downside, the key supports are near $0.0650 and $0.0635.
Looking at the total cryptocurrency market cap 4-hours chart, there is a strong downward move below the $230.0B and $220.0B support levels. The crypto market cap even tested the $210.0B support area, coinciding with bitcoin testing the $8,000 level. The market cap is currently correcting higher, but upsides may face hurdles near $220.0B and $225.0B levels. On the downside, a break below $210.0B could lead the cap towards the $200.0B level.
Therefore, rallies or recovery remain limited in bitcoin, Ethereum, EOS, litecoin, ripple, XLM, BCH, ADA, BNB, TRX, ICX, and other altcoins in the near term.