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Breaking News: Trump Prepares To Allow Crypto Investments In $9 Trillion Retirement Market
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Breaking News: Trump Prepares To Allow Crypto Investments In $9 Trillion Retirement Market

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

Aayush Jindal
Aayush Jindal
1 year ago
2 mins read
Bitcoin Crypto Market Altcoins BCH ETH XRP BNB ADA TRX EOS

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  • 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 $7,320 support area.
  • Litecoin (LTC) price is sliding and it may soon test the $42.20 level.
  • BCH price is struggling and it seems like it could break the $200 support area.
  • Tron (TRX) price is currently consolidating near the main $0.0140 support area.
  • Tezos (XTZ) it outperforming and it is now trading nicely above $1.500.

The crypto market cap and bitcoin (BTC) are declining and facing hurdles. Tezos (XTZ) is rising, while Ethereum (ETH), litecoin (LTC), ripple, BCH, tron (TRX), and other altcoins are sliding.

Bitcoin Cash Price Analysis

After struggling to clear the $225 resistance, bitcoin cash price started a slow decrease against the US Dollar. BCH price traded below the $215 and $210 levels. It is currently trading near the $205 support and it seems like it could continue to decline.

If the bulls fail to defend the main $200 support, there is a risk of a downside extension in the near term. The next major support is near the $185 level.

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

Litecoin price is still following a bearish pattern below the $46.20 and $48.00 resistance levels. LTC is now trading below $45.00 and it seems like it could even trade below $44.00. In the mentioned case, the next key support is seen near the $42.20 level, below which the price may perhaps test $40.00.

Tron price is now trading well below the $0.0150 pivot level. TRX price is struggling and it might decline below the $0.0140 support area. If the bears gain traction below $0.0140, the price could trade towards the $0.0135 and $0.0132 levels.

Tezos performed really well in the past few days and it surpassed the market cap of cardano and tron. XTZ price is now trading nicely above the $1.4000 and $1.5000 resistance levels. However, there could be a short term downside correction towards the $1.4200 level.

Bitcoin and Crypto Market Cap
Crypto Market Cap

Looking at the total cryptocurrency market cap 4-hours chart, there was another failure near the $200.0B resistance area. The crypto market cap declined recently below the $195.0B support. It is now approaching the $188.0B support, below which there is a risk of further losses. The next major support is near the $182.0B level.

Conversely, a successful close above the $200.0B resistance is needed for a nice recovery in bitcoin, Ethereum, EOS, litecoin, ripple, XLM, BCH, BNB, TRX, ADA, XMR, and other altcoins in the near term.

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Aayush Jindal
Aayush Jindal

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.

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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.

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Reason to trust

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Created by industry experts and meticulously reviewed
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