- The total crypto market cap corrected lower after a solid run towards $215.0B.
- Bitcoin price is currently trading above the $11,500 support after a strong downside correction.
- Litecoin (LTC) price is now trading below the $95.00 support after a failed break above $100.00.
- BCH price is correcting gains and it could retest the $330 support level.
- Tron (TRX) price broke the key $0.0220 support and it could extend losses.
- Cardano (ADA) price is declining towards the key $0.0520 support level in the near term.
The crypto market cap and bitcoin (BTC) are holding important uptrend support. Ethereum (ETH), LTC, BCH, EOS, cardano, ripple, TRX, XLM and BNB might start a decent recovery.
Bitcoin Cash Price Analysis
Bitcoin cash price spiked above the $350 resistance against the US Dollar, but it failed to hold gains. BCH/USD started a downside correction and recently traded below the $340 support level. The price is currently below $340 and it seems like it could extend its correction towards the $330 support level.
On the upside, the $340 level might once again act as a resistance. However, the main resistance is near the $350 and $352 levels.
Cardano (ADA), Litecoin (LTC) and Tron (TRX) Price Analysis
Litecoin price surged above the $100.00 resistance level, but it failed to settle above $100.00. A swing high was formed near $105.00 and the price declined below the $95.00 support level. The next key support is near the $92.00 level. On the upside, the main resistance of a strong upward move is near the $100.00 level.
Tron price remained in a bearish zone and it failed to correct above the $0.0230 resistance. TRX price declined below the $0.0220 support level and it is currently under a lot of pressure. It seems like the price may soon test the $0.0210 support level.
Cardano price is slowly declining and it recently traded below the $0.0560 support level. ADA price might continue to slide and it could even test the key $0.0520 support level. Any further declines could lead the price towards the $0.0505 support area.
Looking at the total cryptocurrency market cap 4-hours chart, there was a strong rise above the $300.0B resistance level. The market cap even climbed above the $310.0B level and tested the $315.0B level. Recently, it corrected lower below the $300.0B support. However, the $290.0B support and a major bullish trend line on the same chart acted as a strong support. The market cap is moving higher, but it must surpass the $300.0B and $305.0B resistances for a fresh upward move in bitcoin, Ethereum, EOS, litecoin, ripple, ADA, BCH, TRX, ICX, XLM and other altcoins in the near term.
Author: Aayush Jindal
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