Bitcoin And Crypto Market Nosedives: BCH, EOS, TRX, ADA Analysis | NewsBTC
- The total crypto market cap is down more than 10% and it broke the $200.0B support area.
- Bitcoin price declined heavily and traded below the $7,500 support area.
- EOS price is down more than 8% and it traded close to the $2.500 support area.
- BCH price is still holding the main $200 support area, with positive signs.
- Tron (TRX) price is trading just below the $0.0145 support area.
- Cardano (ADA) price spiked below $0.0385 and traded close to the $0.0350 support area.
Bitcoin Cash Price Analysis
Recently, BCH price failed to stay above the $225 level against the US Dollar. As a result, there was a fresh decline below the $215 support. The price even spiked below the $205 support, but the price seems to be holding the $200 support area.
The price is currently recovering, but there are many hurdles on the upside near the $215 and $220 levels. On the downside, a close below the $200 support might open the doors for more downsides towards the $185 level.
EOS, Tron (TRX) and ADA Price Analysis
EOS price is down more than 8% today and it even broke the $2.850 support area. The price declined towards the $2.500 support area and formed a low near the $2.550 level. It is currently recovering, but the previous support near $2.800 and $2.850 could act as a strong resistance.
Tron price faced a strong selling interest after it failed to break the $0.0155 resistance. TRX price declined sharply below $0.0150 and $0.0140. A low was formed near $0.0136 and the price is currently recovering. On the upside, the $0.0145 and $0.0148 levels are likely to prevent gains.
Cardano price is settled below the key $0.0400 support area. ADA price tested the $0.0360 support and it seems to be struggling to correct higher. On the upside, there are many hurdles near the $0.0400 and $0.0420 levels.
Looking at the total cryptocurrency market cap 4-hours chart, there was a sharp bearish reaction from the $218.0B resistance area. The market cap dived more than 10% and even broke the key $200.0B support area. It tested the $190.0B level and is currently correcting higher. However, the previous support near the $200.0B level might act as a strong resistance.
On the downside, the main supports are near $190.0B and $185.0B. Overall, upsides are likely to remain capped in bitcoin, ETH, XRP, TRX, ADA, bitcoin cash, litecoin, EOS, stellar, IOTA, ICX, WAN, and other altcoins.
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