Bitcoin And Crypto Market Remain At Risk: LTC, BNB, BCH, TRX Analysis

  • The total crypto market cap is struggling to break the key $220.0B resistance area.
  • Bitcoin price is now trading well below the $8,400 and $8,500 resistance levels.
  • Binance coin (BNB) price is slowly declining and it could test the $15.20 support area.
  • Litecoin (LTC) price is somehow holding the key $55.00 support area.
  • BCH price is consolidating above the key $220 support level, with bearish signs.
  • Tron (TRX) price settled above the $0.0140 level, but it is facing hurdles near the $0.0150 level.

The crypto market cap and bitcoin (BTC) are trading below key resistance. Ethereum (ETH), litecoin, ripple, BCH, TRX, XLM, BNB and EOS are slowly moving lower.

Bitcoin Cash Price Analysis

BCH price failed to clear the $235 resistance area and recently corrected lower against the US Dollar. The BCH/USD pair tested the $220 support level and it is currently trading in a range. If there is a downside break below the $220 support, the price could test the $205 or $200 support level.

On the upside, there are hurdles forming near the $230 and $235 levels. A clear break above the $235 resistance might push the price towards the $250 resistance area.

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

Binance coin (BNB) price is currently trading in a range above the $15.00 support area. On the upside, BNB price is facing a strong resistance near the $16.00 and $16.20 levels. On the downside, a break below the $15.00 support could lead the price towards the $14.20 support.

Litecoin price is somehow holding the $55.00 support area. If LTC price breaks the $55.00 support level, there is a risk of another drop towards the $50.00 support area. On the upside, the price must break the $58.00 and $60.00 resistance levels to move into a positive zone.

Tron price recovered from the $0.0120 support area and it settled above the $0.0140 level. However, TRX price is now facing a strong resistance near the $0.0150 level. If there is a daily close above the $0.0150 resistance, there are chances of more upsides above the $0.0155 and $0.0160 levels in the near term.

Bitcoin Crypto Market Altcoins ETH XRP EOS BNB TRX ADA LTC

Looking at the total cryptocurrency market cap 4-hours chart, there is a crucial resistance forming near the $220.0B level. Moreover, there is a connecting bearish trend line forming with resistance near $215.0B on the same chart. To start a strong upward move, the market cap must surpass the $220.0B resistance area. On the downside, the main support is near the $200.0B level. If there is a break below the $200.0B support, it could spark another drop 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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