- 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.
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.
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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