Bitcoin And Crypto Market Cap Down Sharply: LTC, BNB, BCH, TRX Analysis

  • The total crypto market cap is declining and it could soon test the $200.0B support area.
  • Bitcoin price is down 3% and it broke the main $8,000 support area.
  • Binance coin (BNB) price broke the key $18.00 support and it might revisit $17.20.
  • Litecoin (LTC) price is down around 5% and it is approaching the $50.00 support zone.
  • BCH price is testing the main $215 support level, below which it could slide sharply.
  • Tron (TRX) price is extending losses below the $0.0152 and $0.0150 support levels.

The crypto market cap and bitcoin (BTC) are showing bearish signs. Ethereum (ETH), litecoin, ripple, BCH, TRX, XLM, BNB and EOS are likely to extend losses.

Bitcoin Cash Price Analysis

BCH price failed to clear the $230 resistance area and recently declined sharply lower against the US Dollar. The BCH/USD pair traded below the $220 level and it is currently testing the key $215 support. If there are more losses, the price could test the next major support near the $200 level.

On the upside, an initial resistance is near the $220 level, above which the price could recover towards the $230 resistance area in the near term.

Binance Coin (BNB), Litecoin (LTC) and Tron (TRX) Price Analysis

Binance coin (BNB) price started a fresh decline after it spiked above the $19.00 level. BNB is down more than 5% and it broke the key $18.00 support area. The price is currently trading below $18.00 and it recently tested the $17.60 support area. Going forward, a break above $18.00 is needed for a fresh increase.

Litecoin price failed to continue higher and declined below the $56.50 and $55.00 support levels. LTC price is now approaching the $51.00 and $50.00 support levels, where the bulls might take a stand. On the upside, the previous support near $55.00 may now act as a strong resistance.

Tron price trimmed most its gains and declined sharply below the $0.0160 support area. TRX price even broke the $0.0150 support area and it is currently down more than 6%. The next key support is near $0.0145, below which it could even test the $0.0140 support area.

Bitcoin Crypto Market Altcoins ETH XRP EOS BNB TRX ADA LTC

Looking at the total cryptocurrency market cap 4-hours chart, there was a downside break below the $215.0B support area and the 100 SMA. The market cap declined towards the $205.0B support and it is currently in the negative zone. If there are more downsides, the market cap could test the $200.0B support. A break below the $200.0B support could trigger a nasty decline in bitcoin, Ethereum, EOS, litecoin, ripple, binance coin, BCH, TRX, XMR, XLM and other altcoins in the near term.

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Source: Newsbtc

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