- The total crypto market cap failed near the $136.0B resistance and declined sharply.
- EOS price broke the $3.70 support and tested the $3.62 support area.
- Binance Coin (BNB) is down more than 4% and settled below the $15.00 support level.
- Bitcoin cash price is correcting lower and it may test the $150 support zone.
- Tron (TRX) price is stable and still holding the key $0.0220 support level.
Bitcoin Cash Price Analysis
Bitcoin cash price started a downside correction after testing the $165 resistance against the US Dollar. The BCH/USD pair traded below the $160 and $155 support levels. It even tested the $150 support level and it is currently consolidating losses.
An immediate support is at $150, below which the price may trade towards the $140 support level. On the upside, the previous supports near the $155 and $160 levels are likely to act as barriers for buyers.
EOS, Tron (TRX) and BNB Price Analysis
EOS price started a downside move after it failed to break the $3.80 resistance. There was a steady decline below the $3.75 and $3.70 support levels. The price even broke the $3.65 support and traded close the $3.60 support. It is currently trading near $3.65, with many hurdles on the upside near $3.70.
Tron price was stable and decline was limited below $0.0230. TRX price is still trading above the $0.0220 support, which is a positive sign. However, the price must settle above $0.0230 and $0.0235 to move into a positive zone.
Binance coin (BNB) started a major downside correction from well above the $15.50 level. BNB price broke the $15.00 support and the price is now down more than 4%. An immediate support is at $14.50, below which the price may trade towards the $14.05 support. On the upside, the $15.00 level is likely to prevent gains in the near term.
Looking at the total cryptocurrency market cap hourly chart, there was another rejection near the $136.0B resistance level. As a result, there was a sharp drop below the $135.0B level and a connecting bullish trend line on the same chart. The market cap even settled below the $133.5B support and the 100 hourly simple moving average. It tested the $130.0B support and later bounced back above $132.0B. However, there are many hurdles for more gains near the $132.8B and $133.50B levels. Therefore, upsides are likely to remain capped in bitcoin, ETH, tron, litecoin, EOS, ripple, cardano, XLM, ICX, BCH, XMR and other altcoins in the near term.