Crypto Market & Bitcoin Extending Losses: BCH, Litecoin, ADA, TRX Analysis

  • The total crypto market cap is following a bearish path below the $265.0B and $270.0B resistances.
  • Bitcoin price failed to break the $10,500 resistance and is currently under a lot pressure.
  • Litecoin (LTC) price is trading with a bearish bias below the $75.00 support area.
  • BCH price is at a risk of a downside break below the $305 and $300 support levels.
  • Tron (TRX) price is consolidating losses below the key $0.0180 and $0.0185 resistance levels.
  • Cardano (ADA) price is following a bearish path below the $0.0520 and $0.0500 supports.

Bitcoin (BTC) and the crypto market cap are gaining bearish momentum. Ethereum (ETH), LTC, BCH, EOS, cardano, ripple, TRX, XLM and BNB might extend decline.

Bitcoin Cash Price Analysis

Bitcoin cash price struggled to continue above the $320 resistance area against the US Dollar. The BCH/USD pair is currently declining and is trading below the $310 level. It seems like the bears may soon attempt a downside break below the $305 and $300 support levels.

If they succeed, the price may revisit the $290 and $280 supports levels. On the upside, the main resistance is still near the $320 level, above which the price is likely to continue higher.

Cardano (ADA), Litecoin (LTC) and Tron (TRX) Price Analysis

Litecoin price settled below the key $80.00 support level and recently declined further. LTC price is now trading below the $75.00 support level and it seems like it could continue to decline. An immediate support is at $72.00, below which it may perhaps decline towards the $70.00 support area.

Tron price is currently consolidating losses below the main $0.0180 and $0.0185 resistance levels. Recently, TRX price attempted an upside correction, but it struggled to settle above $0.0180. On the downside, the key supports are near the $0.0172 and $0.0165 levels.

Cardano price is under a lot of pressure and it recently settled below the $0.0520 and $0.0500 support levels. ADA price might continue to move down towards the $0.0450 support level. On the upside, the previous supports near $0.0500 and $0.0520 are likely to act as hurdles.

Bitcoin Crypto Market Cap ETH XRP BCH LTC EOS TRX ADA BNB ETC

Looking at the total cryptocurrency market cap 4-hours chart, the recent upward move was capped by the $270.0B resistance area. It seems like the market cap is following a bearish path below the $265.0B and $270.0B resistances. There are also two major bearish trend lines forming with resistance near the $265.0B level. On the downside, an immediate support is near the $245.0B level, below which there could be a bearish break towards the $220.0B level. On the upside, a clear break above $270.0B is needed for a decent recovery in bitcoin, Ethereum, EOS, litecoin, ripple, ADA, BCH, TRX, ICX, XLM and other altcoins in the near term.

The post Crypto Market & Bitcoin Extending Losses: BCH, Litecoin, ADA, TRX Analysis appeared first on NewsBTC.

You might also like More from author

Comments are closed.