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Bitcoin & Crypto Market Bleeding: BNB, BCH, LTC, EOS Analysis

Avatar Aayush Jindal 4 months ago
  • The total crypto market cap is declining and struggling to stay above the $188.0B support.
  • Bitcoin price is down more than 2% and it broke the $7,200 support area.
  • Litecoin (LTC) price is declining and approaching the $43.20 support area.
  • BCH price is somehow holding the main $200 support area.
  • EOS price is sliding and it seems like it could soon test the $2.500 support area.
  • Binance coin (BNB) is now well below the $15.00 level and it might struggle to stay above $14.20.

Bitcoin (BTC) and the crypto market cap declining steadily. Many altcoins such as Ethereum (ETH), binance coin (BNB), ripple, litecoin, BCH, EOS, TRX, and ADA are under a lot of pressure.

Bitcoin Cash Price Analysis

In the past few sessions, bitcoin cash price mostly traded in a range below the $220 and $225 resistance levels against the US Dollar. More importantly, BCH price somehow holding the main $200 support area. If there is a downside break below the $200 support, there is a risk of a drop towards the $185 level.

On the upside, an initial resistance is near the $215 level. However, the main hurdles are still near the $220 and $225 levels.

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

Binance coin (BNB) price declined recently and settled below the $15.00 support area. BNB price even spiked below the $14.50 support and it is now consolidating losses. On the upside, there are resistances near the $14.80 and $15.00 levels. On the downside, the main support is near the $14.20 level.

Litecoin price is declining and it recently settled below the $45.00 and $44.50 support levels. LTC price is now approaching the $43.20 support. If it fails to stay above the $43.20 support, the bears are likely to aim the $41.00 support area in the near term.

EOS price is failed to stay above the $2.600 support area and it is sliding toward the $2.500 area. If the price continues to decline, the bears are likely to lead the price towards the $2.350 level. On the upside, the $2.600 and $2.650 levels are now likely to act as hurdles.

Bitcoin Crypto Market Cap

Crypto Market Cap

Looking at the total cryptocurrency market cap hourly chart, there was a steady decline below the $195.0B support area. The crypto market cap test the $188.0B support and it seems like it is struggling to hold the ground.

Therefore, a downside break below the $188.0B support area is likely to spark another slide in bitcoin, Ethereum, EOS, litecoin, ripple, ADA, BCH, XLM, BNB, TRX, XMR, and other altcoins in the near term.

Aayush Jindal

Aayush is a Senior Forex, Cryptocurrencies and Financial Market Strategist with a background in IT and financial markets. He specialises in market strategies and technical analysis, and has spent over a DECADE as a financial...

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