- The total crypto market cap is struggling to stay above the $225.0B support area.
- Bitcoin price is down around 3% and it is trading well below the $9,000 level.
- Litecoin (LTC) price is declining, but it is still trading above the $60.00 support area.
- BCH price failed to surpass the $300 resistance and is correcting lower towards $285.
- Tron (TRX) price is slowly declining towards the $0.0185 support area.
- Cardano (ADA) price is trading in a range above the $0.0420 support area.
Bitcoin Cash Price Analysis
Bitcoin cash price made a few attempts to climb above the $300 resistance area against the US Dollar. However, the BCH/USD pair failed to gain momentum above $300 and recently started a fresh decline. It is currently trading below $292 and it seems to be approaching the $285 support area.
If there is a downside break below the $285 and $280 support levels, the price could extend its decline towards the $265 support. On the upside, the $295 and $300 levels are decent hurdles for the bulls.
Cardano (ADA), Litecoin (LTC) and Tron (TRX) Price Analysis
Litecoin price is facing a strong resistance near the $64.50 and $65.00 levels. On the downside, there are many key supports near the $61.00 and $60.00 levels. Therefore, a downside break below $60.00 could start a major decline in the coming sessions.
Tron price is struggling to clear a major resistance near the $0.0200 level. TRX price is currently declining and is slowly moving towards the $0.0185 support. On the upside, the $0.0200 and $0.0205 are important hurdles, above which the price could revisit $0.0220.
Cardano price is currently consolidating above the $0.0420 support area. On the upside, the $0.0445 and $0.0450 levels are strong resistances. A successful close above $0.0450 is needed for a decent upward move. If not, the price might decline below the $0.0420 support area.
Looking at the total cryptocurrency market cap 4-hours chart, there was a downward move from the $240.0B and $242.0B resistance levels. The market cap declined below the $235.0B and $230.0B support levels. At the moment, it seems like the market cap is struggling to recover and also finding hard to hold the $225.0B support.
Therefore, there is a risk of more downsides in bitcoin, Ethereum, EOS, litecoin, ripple, ADA, BCH, TRX, ICX, XLM and other altcoins in the near term. Conversely, a break above the $235.0B and $240.0B resistance levels is needed for a decent rise in the coming sessions.