Bitcoin And Crypto Market Cap Nosedive: BCH, Litecoin, XTZ, TRX Analysis

Aayush Jindal

1 year ago

2 mins read

Bitcoin Crypto Market Altcoins BCH ETH XRP BNB ADA TRX EOS

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

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

The total crypto market cap is down more than $15.0B in the past three days.
Bitcoin price is down around 4% and it even traded close to the $6,500 support.
Litecoin (LTC) price is declining and it is now trading well below $40.00.
BCH price dived more than 8% and it even broke the $185 support area.
Tron (TRX) price was dumped after it broke the $0.01300 support area.
Tezos (XTZ) is also down 8% and it is now trading near the $1.5750 support area.

The crypto market cap and bitcoin (BTC) are declining steadily. Ethereum (ETH), litecoin (LTC), ripple, BCH, tron (TRX), Tezos (XTZ), and other altcoins are under immense pressure.

Bitcoin Cash Price Analysis

After struggling to stay above the $200 support, bitcoin cash price started another decline against the US Dollar. BCH price is down more than 10% in the past few days and it even broke the $185 support level.

The price is now trading below $180 and it seems like it could soon approach the $174 support area. Any further losses may perhaps lead the price towards the $165 support.

Litecoin (LTC), Tron (TRX) and Tezos (XTZ) Price Analysis

Litecoin price is down more than 5% and it broke the $40.00 and $38.50 support levels. LTC price is now trading below $38.00 and it is likely to continue lower towards the $36.20 and $35.50 support levels. On the upside, the price is likely to face hurdles near $39.20 and $40.00.

Tron price is down more than 20% in the past few days and it recently broke the main $0.0132 and $0.0130 support levels. TRX price is trading near the $0.0125 level and it might continue to slide. The next major support for the bulls might be near the $0.0121 level.

Tezos failed to stay above the $1.6200 and $1.6000 support levels. As a result, XTZ started a downside correction and traded below $1.5920 support. The price is now trading near $1.5750 and it could slide further towards the $1.5000 support area.

Bitcoin Crypto Market Cap — Crypto Market Cap

Looking at the total cryptocurrency market cap 4-hours chart, there was a steady decline after the $200.0B level acted as a strong barrier. The crypto market cap is down more than $20.0B and it even broke the $180.0B support level.

At the moment, the $170.0B level is providing support. The crypto market cap is correcting higher, but upsides are likely to remain limited in bitcoin, Ethereum, EOS, litecoin, ripple, XLM, BCH, BNB, TRX, ADA, XMR, and other altcoins in the near term. The main hurdles are near $180.0B and $182.0B levels.

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.