- 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.
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 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.
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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