- The total crypto market cap struggled to surpass $220.0B and declined recently below $215.0B.
- Bitcoin price is also under pressure and it recently traded below the $8,200 support area.
- EOS price is down around 5% and it broke the key $3.000 support area.
- BCH price retested the key $215 support area and it is currently correcting higher towards $225.
- Tron (TRX) price is down more than 5% and it broke the main $0.0160 support zone.
- Cardano (ADA) price declined nearly 5% and it is now trading below the $0.0400 support.
Bitcoin Cash Price Analysis
After multiple failures to clear the $230 resistance, BCH price reacted to the downside against the US Dollar. The price traded below the $220 level and tested the key $215 support area. However, the decline was contained and the price is currently recovering above $220.
On the upside, there are many resistances near the $225 and $230 levels. A convincing close above $230 might push the price towards $240 or even $250.
EOS, Tron (TRX) and ADA Price Analysis
EOS price failed to stay above the key $3.050 support area. As a result, there was a downside break below the $3.000 support and the price is down more than 5% today. The next major support is near the $2.850 level, where the bulls are likely to take a stand.
Tron price failed to gain strength above the $0.0165 resistance area and recently started a fresh decline. TRX price broke the key $0.0162 and $0.0160 support levels. It is down close to 5% and it is approaching the $0.0155 support area. On the upside, the $0.0160 level is now a strong resistance, followed by $0.0162.
Cardano price struggled to clear the $0.0420 resistance area and recently declined sharply. ADA price broke the $0.0400 support area to move into a bearish zone. If there are more downsides, the price could test the $0.0380 support level in the near term.
Looking at the total cryptocurrency market cap 4-hours chart, the $220.0B and $225.0B levels prevented an upside break. As a result, there was a bearish reaction and the market cap moved below the $215.0B level and a bullish trend line on the same chart. On the downside, an immediate support is near the $210.0B level, below which there could be more losses in in bitcoin, ETH, XRP, TRX, ADA, bitcoin cash, litecoin, EOS, stellar, IOTA, ICX, WAN, and other altcoins in the near term. Conversely, a break above $220.0B is needed for a fresh increase.
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