Bitcoin & Crypto Market Cap Nosedived: LTC, BNB, BCH, TRX Analysis

  • The total crypto market cap extended its decline and broke the key $265.0B support area.
  • Bitcoin price is down more than 5% and it tested the $10,000 support area.
  • Binance coin (BNB) price broke the key $28.50 support level to move into a bearish zone.
  • Litecoin (LTC) price is down 10% and it broke the key $80.00 support area.
  • BCH price declined heavily below the $330 and $320 support levels.
  • Tron (TRX) price tumbled below $0.0200 and even broke the $0.0185 support level.

The crypto market cap and bitcoin (BTC) declined heavily. Ethereum (ETH), litecoin, ripple, BCH, TRX, XLM, BNB and EOS are extending losses, with a bearish angle.

Bitcoin Cash Price Analysis

BCH price topped near the $360 level and recently started a strong decline against the US Dollar. The BCH/USD pair broke the key $330 support level and entered a bearish zone. The price even traded below the $320 support and it seems like the price could revisit the main $300 support level in the near term.

On the upside, the previous support near the $330 level could act as a decent resistance. If there is a strong recovery, the price might climb back towards the $340 resistance.

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

Binance coin (BNB) price failed to hold gains above the $30.00 support level and recently declined sharply. BNB price broke the $29.20 and $28.50 support levels to enter a bearish zone. Moreover, there was a break below $27.50 and it seems like the price is heading towards the $26.20 support area.

Litecoin price failed to hold the main $82.00 and $80.00 support levels. As a result, there was a sharp decline in LTC price and the price tested the $75.00 support. If there are more downsides, the price may test the $72.00 support. On the upside, the previous support at $80.00 may now act as a resistance.

Tron price tumbled more than 10% below the $0.0200 support area. The decline was such that TRX price even broke the $0.0185 support level and traded below $0.0180. The price is now trading near the $0.0178 level and it might correct higher in the near term.

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

Looking at the total cryptocurrency market cap 4-hours chart, there was a steady decline below the $290.0B and $285.0B support levels. Recently, the decline got traction and the market cap declined below the $265.00B support and this week’s followed declining channel. It seems like there could be more downsides and the market cap might test the $250.0B level in the coming sessions. Therefore, bitcoin, Ethereum, EOS, litecoin, ripple, binance coin, BCH, TRX, XMR, XLM and other altcoins might extend declines in the near term.

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Source: Newsbtc

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