Crypto Market Update: Stellar (XLM), Bitcoin Cash, Tron (TRX), ADA Price Analysis 2018-12-14

Aayush Jindal

1 year ago

2 mins read

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Key Points

The total crypto market cap failed to gain pace and declined below $100.00B.
Stellar (XLM) price declined more than 6% and broke the $0.120 support.
Bitcoin cash price fell sharply by around 10% and broke the $90 support.
Tron (TRX) is still stuck above the $0.0130 support level.
Cardano (ADA) price declined once again below $0.0300 and it may slide further.

Bitcoin cash declined heavily and broke the $95 and $90 supports. Stellar (XLM), Tron (TRX) and Cardano (ADA) are currently under pressure and they may slide further.

Bitcoin Cash Price Analysis

During the past few hours, there was a sharp increase in selling pressure on bitcoin cash below the $95 support. BCH/USD declined more than 10% and traded below the $90 support. If the current decline extends, the price may slide further towards the $85 support.

If there is an upside correction, the price may find resistance near the $90 and $92 levels. On the flip side, a break below $85 may push the price towards $80.

Stellar (XLM), Tron (TRX) and ADA Price Analysis

Stellar price declined below the $0.1200 support area to move into a bearish zone. XLM is down more than 6% and it seems to be approaching the $0.1000 support area. On the upside, the previous support at $0.1200 may now act as a resistance.

Tron price remained stable and there was no major decline below the $0.0130 support. TRX price seems to be preparing for the next crucial break either above the $0.0150 level or below $0.0120.

Cardano price failed to stay above the $0.0300 support and declined recently. ADA price is down around 4% and it could extend the current decline towards the $0.0290 or $0.0285 support level.

Looking at the total cryptocurrency market cap hourly chart, there was a sharp bearish reaction near the $106.00B level and a bearish trend line. The market cap declined sharply and even spiked below the $100.00B level. It seems like the crypto market is under a lot of bearish pressure and the market cap could even decline below $98.00B, sparking more losses in Bitcoin, Ethereum, monero, stellar, ripple, and other altcoins in the near term.

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.
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