- The total crypto market cap declined more than $10 billion and tested the key $158.0B support.
- Bitcoin cash price is down around 7% and it is currently trading near the $265 support.
- EOS price broke the key $5.50 support and tested the $5.25 support zone.
- Stellar (XLM) price retreated from highs and it is currently approaching the $0.1100 support area.
- Tron (TRX) is down around 6% and it recently broke the $0.0270 support level.
Bitcoin Cash Price Analysis
Bitcoin cash price failed to stay above the $290 support and declined heavily support against the US Dollar. The BCH/USD pair broke the $285 support level and even cleared the $270 support level. The price tested the $265 support level and it is currently consolidating losses.
On the upside, an immediate resistance is near the $270 level, above which the price is likely to climb higher towards the $280 and $285 resistance levels.
Stellar (XLM), EOS and Tron (TRX) Price Analysis
EOS price failed to hold the key support near the $5.50 level. There was a sharp decline below the $5.40 and $5.30 support levels. The price tested the $5.25 support and it is currently correcting higher. An initial resistance is at $5.40, above which the price could test the main pivot area near the $5.50 level.
Stellar price failed to stay above the $0.1250 level and recently declined below the $0.1200 support level. XLM price even broke the $0.1150 support and it seems like sellers are likely to aim the main support near the $0.1100 level in the near term.
Tron price failed to stay above the $0.0300 level and declined recently. TRX price broke the $0.0290 and $0.0280 support levels to enter a bearish zone. It even traded below the key $0.0270 support level and tested the $0.0260 support. The next main support is at $0.0250, where buyers could take a stand.
Looking at the total cryptocurrency market cap hourly chart, there was a strong rejection near the $178.5B ad $180.0B resistance levels. The market cap declined more than $20 billion and tested the $158.0B and $160.0B support levels. It is holding the key $158.0B support level, with a bullish angle. Therefore, there are chances of a sharp bounce in the near term towards $165.0B or $170.0B levels. Conversely, a break below the $158.0B support may accelerate losses. Overall, there are chances of a solid comeback in bitcoin, Ethereum, EOS, ripple, LTC, bitcoin cash, XLM, TRX, ICX, WTC, and other altcoins in the near term.