- The total crypto market cap is declining and it is now well below the $200.0B resistance.
- Bitcoin price is down close to 2% and it is now trading below the $7,400 support.
- EOS price is approaching the $2.600 support area and it could bounce back.
- Binance Coin (BNB) is currently down around 3% and it is struggling to stay above $15.00.
- BCH price is slowly moving down towards the main $205 and $200 support levels.
- Tron (TRX) price is declining towards the main $0.0140 support area.
The crypto market cap and bitcoin (BTC) are struggling to continue higher and
Bitcoin Cash Price Analysis
After a short term upward move, bitcoin cash price failed to climb above the key $220 and $225 resistance levels against the US Dollar. The BCH/USD pair is currently declining and it is trading below the $210 level.
On the downside, the first key support is near the $205 level, below which the price is likely to test the main $200 support area in the near term. On the upside, a clear break above $225 is needed for a decent increase.
Binance Coin (BNB), EOS, Tron (TRX) Price Analysis
EOS price failed to surpass the $2.850 resistance area and it is currently declining. The price is down 3% and it is trading near the $2.600 support. If there are more losses, the next major support is seen near the $2.500 level. On the upside, the $2.700 level might protect gains.
Tron price is under a lot of pressure and it is now trading well below $0.0145. An initial support is near the $0.0142 level. However, the main support for TRX price is near the $0.0140 level, below which there is a risk of an extended decline.
Binance coin (BNB) faced a strong selling interest near the $15.80 and $16.00 resistance levels. As a result, BNB price declined and it is now trading below $15.25. An initial support is near $15.05 and $15.00, below which the bears are likely to take control in the near term.
Looking at the total cryptocurrency market cap 4-hours chart, the $200.0B level acted as a strong resistance. The crypto market cap is currently declining and it recently broke a major contracting triangle with support near the $195.0B level.
If the recent breakdown is real, there is a risk of more downsides in bitcoin, Ethereum, TRX, LTC, EOS, ripple, ADA, XLM, WTC, BCH, and ICX. If not, the market could make another attempt to climb above $200.0B and $205.0B.