- The total crypto market cap is down more than $ 50.0B and it recently tested the $ 255.0B support.
- Bitcoin price is down more than 10% and even spiked below the $ 10,000 support level.
- EOS price broke the $ 4.50 support level and traded towards the $ 4.20 support zone.
- BCH price is down around 20% and it even traded below the $ 300 support level.
- Tron (TRX) price jumped around 10% and is currently trading above $ 0.0350.
- Cardano (ADA) price broke the key $ 0.0700 and $ 0.0600 support levels.
Bitcoin Cash Price Analysis
After this past week’s downside break, bitcoin cash price started a major decline below the $ 360 support against the US Dollar. The BCH/USD pair even broke the $ 320 and $ 300 support levels to enter a major downtrend. The price is down around 20% and it is currently trading near the $ 280 level.
If the price continues to move down, it could trade towards the next major support near the $ 250 level. On the upside, the previous supports near $ 300 and $ 320 are likely to act as hurdles in the near term.
EOS, Tron (TRX) and ADA Price Analysis
EOS price was down more than $ 2.00 in the past few days. The price even broke the $ 5.000 and $ 4.500 support levels. It traded towards the $ 4.200 support level and it is currently correcting higher. On the upside, there is a strong resistance forming near the $ 4.500 and $ 4.600 levels.
Tron price is down around 15% and it recently broke the key $ 0.0320 and $ 0.0300 support levels TRX price even traded below the $ 0.0260 support and tested the $ 0.0240 level. It seems like the price may extend losses towards the $ 0.0225 support area.
Cardano price is under a lot of pressure and it recently broke the $ 0.0700 and $ 0.0600 support levels. ADA price is down 13% and is trading near the $ 0.0580 level. The next key support is near the $ 0.0560 level.
Looking at the total cryptocurrency market cap 4-hours chart, there was a significant downside break below the $ 315.0B and $ 300.0B support levels. The market cap declined more than $ 50.0B recently and moved towards the $ 255.0B and $ 250.0B support levels. A swing low was formed near $ 254.0B and the market cap is currently correcting higher. However, there are many important resistances on the upside near the $ 275.0B and $ 280.0B levels. Therefore, an upside recovery in bitcoin, ETH, XRP, TRX, ADA, bitcoin cash, litecoin, EOS, stellar, IOTA, ICX, WAN, and other altcoins is likely to remain capped in the near term.