Bitcoin And Crypto Market Facing Hurdles: BCH, XLM, EOS, TRX Analysis

  • The total crypto market cap is correcting higher towards the $250.0B resistance area.
  • Bitcoin price is also approaching towards many hurdles near $9,800 and $10,000.
  • BCH price is currently consolidating near the key $280 support area.
  • EOS price is under pressure and it seems like it could struggle to climb above $3.350.
  • Stellar (XLM) price is once again declining towards the $0.0600 support area.
  • Tron (TRX) price is currently flat above the main $0.0150 support area.

Bitcoin (BTC) and the crypto market cap are facing many hurdles. Ethereum (ETH), BCH, stellar (XLM), ADA, EOS, ripple, and tron (TRX) are likely to struggle to climb higher.

Bitcoin Cash Price Analysis

This past week, BCH price declined sharply below the $305 and $300 support levels against the US Dollar. The BCH/USD pair even broke the $280 support and tested the $270 support area. It is currently consolidating near the key $280 support area and it might correct higher in the near term.

On the upside, an immediate resistance is near the $285 level, followed by $290. However, the main hurdles on the upside are near the $300 and $305 levels.

Stellar (XLM), EOS and Tron (TRX) Price Analysis

EOS price traded close to the $3.050 support area and recently corrected higher. The price is currently consolidating near the $3.250 level, but it is facing many important resistances near the $3.300 and $3.350 levels. The next major resistance above $3.350 is near the $3.500 area. On the downside, the key supports are near the $3.050 and $3.000 levels.

Stellar price is declining towards the $0.0600 support level and it is currently consolidating losses. An immediate resistance is near the $0.0630 level, above which XLM price might test the $0.0650 resistance level. On the downside, a break below $0.0600 might push the price towards the $0.0550 level.

Tron price is struggling to hold the $0.0150 support level and remains at a risk of more downsides. If TRX price breaks the $0.0150 support, it could decline further towards the $0.0145 level in the near term. On the upside, there are many hurdles near the $0.0155 and $0.0160 levels.

Bitcoin Crypto Market Cap ETH XRP BCH LTC EOS TRX ADA BNB

Looking at the total cryptocurrency market cap 4-hours chart, there a significant decline from well above the $270.0B level. The market cap even broke the main $250.0B support area and tested the $235.0B area. It is currently correcting higher above $240.0B. However, there are many resistances near $248.0B, $250.0B, and two bearish trend lines on the same chart. Therefore, upsides are likely to remain limited in bitcoin, Ethereum, EOS, ripple, litecoin, bitcoin cash, XLM, TRX, BNB, WAN, WTC, ICX, and other altcoins in the near term.

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Source: Newsbtc

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