- The total crypto market cap is forming a major breakout pattern with resistance near $195.0B.
- Bitcoin price is slowly rising and it seems like it could climb above the $7,400 resistance.
- Binance coin (BNB) price is holding the $15.00 support and it is correcting higher.
- Litecoin (LTC) price is attempting a break above the $45.50 resistance area.
- BCH price is slowly recovering and it could revisit the $220 resistance area.
- Tron (TRX) price is now trading well below the $0.0150 resistance level.
Bitcoin Cash Price Analysis
After a strong rejection near the $225 resistance, bitcoin cash price declined below $215 against the US Dollar. BCH price tested the $205 support area and started trading in a range. It is currently rising slowly towards the $215 and $220 levels.
The main resistance on the upside is near the $225 level, above which the price could surge towards $240 and $250. On the downside, the $200 support holds the key in the near term.
Binance Coin (BNB), Litecoin (LTC) and Tron (TRX) Price Analysis
Binance coin (BNB) remained well bid above the $15.00 support area. BNB price is currently correcting higher and trading near $15.50. If it continues to rise, the $16.00 resistance area might spoil the recovery. A clear break above $16.00 is needed for upside continuation.
Litecoin price is holding the $43.50 support area, but at the same time trading below many key resistances. The first key resistance is near the $45.50 level, above which LTC price could recover towards the next major resistance near the $48.00 level. The main resistance is still near the $50.00 level.
Tron price declined recently below the $0.0145 support and tested the $0.0140 support area. TRX price is currently consolidating, with an immediate resistance near the $0.0145 level. On the downside, a close below the $0.0140 support could lead the price towards $0.0132 or $0.0130 in the coming days.
Looking at the total cryptocurrency market cap 4-hours chart, the $186.0B area is acting as a strong support. Similarly, there are many key hurdles near $195.0B and $200.0B. At the moment, it seems like there is a major breakout pattern forming with resistance near the $192.0B level.
If there is a clear break above the $192.0B and $195.0B resistance, the crypto market cap could start a decent upward move. If not, there could be another bearish reaction in bitcoin, Ethereum, EOS, litecoin, ripple, binance coin, BCH, TRX, XMR, XLM and other altcoins in the near term.