- The total crypto market cap failed to break the $270.0B resistance and recently declined below $260.0B.
- Bitcoin price is down around 4% and it recently broke the $10,000 support area.
- EOS price is somehow holding gains and it could find support near the $4.400 level.
- BCH price failed to stay above the $300 support and traded towards the $295 level.
- Tron (TRX) price is down 5% and it may soon test the $0.0220 support area.
- Cardano (ADA) price failed to climb above the $0.0600 resistance and declined below $0.0580.
Bitcoin price and the crypto market cap are currently declining with a bearish structure. Ethereum (ETH), EOS, Tron (TRX), BCH, Ripple, ADA and BNB are likely to extend losses, the News BTC reported.
Bitcoin Cash Price Analysis
Recently, bitcoin cash price managed to climb above the $290 and $300 resistance levels against the US Dollar. However, the BCH/USD pair failed to gain momentum above the $310 level. As a result, there was a downside reaction and the pair broke the $300 support level.
An immediate support is near the $290 level, below which there is a risk of more losses towards the $270 support level. On the upside, the $310 level is a major resistance, followed by the $330 level.
EOS, Tron (TRX) and ADA Price Analysis
EOS price gained traction recently and climbed above the $4.500 resistance levels. However, the recent decline in bitcoin stopped the upward move and pushed EOS price lower. The price is currently approaching the $4.400 support, below which it could accelerate declines in the near future.
Tron price failed to stay above the $0.0250 support and recently declined below the $0.0240 support. TRX price is down around 5% and it even broke the $0.0230 support. It seems like the price may soon revisit the $0.0220 support area.
Cardano price climbed higher recently, but it faced a strong resistance near the $0.0600 level. ADA price started a fresh decline and it broke the $0.0580 support level. The next main support for the bulls is near the $0.0565 level. On the upside, the $0.0600 level is a solid resistance.
Looking at the total cryptocurrency market cap 4-hours chart, there was a short term upward move from the $250.0B support area. The market cap climbed above the $260.0B resistance. However, the upward move was capped by the $270.0B resistance and a connecting bearish trend line on the same chart. It is now declining and it seems like the market cap could revisit the $250.0B support. If there is a downside break below $250.0B, there could be sharp losses in bitcoin, ETH, XRP, TRX, ADA, bitcoin cash, litecoin, EOS, stellar, IOTA, ICX, WAN, and other altcoins in the near term.
