- The total crypto market cap corrected lower after a solid run towards $215.0B.
- Bitcoin price is currently trading above the $11,500 support after a strong downside correction.
- Litecoin (LTC) price is now trading below the $95.00 support after a failed break above $100.00.
- BCH price is correcting gains and it could retest the $330 support level.
- Tron (TRX) price broke the key $0.0220 support and it could extend losses.
- Cardano (ADA) price is declining towards the key $0.0520 support level in the near term.
Bitcoin Cash Price Analysis
Bitcoin cash price spiked above the $350 resistance against the US Dollar, but it failed to hold gains. BCH/USD started a downside correction and recently traded below the $340 support level. The price is currently below $340 and it seems like it could extend its correction towards the $330 support level.
On the upside, the $340 level might once again act as a resistance. However, the main resistance is near the $350 and $352 levels.
Cardano (ADA), Litecoin (LTC) and Tron (TRX) Price Analysis
Litecoin price surged above the $100.00 resistance level, but it failed to settle above $100.00. A swing high was formed near $105.00 and the price declined below the $95.00 support level. The next key support is near the $92.00 level. On the upside, the main resistance of a strong upward move is near the $100.00 level.
Tron price remained in a bearish zone and it failed to correct above the $0.0230 resistance. TRX price declined below the $0.0220 support level and it is currently under a lot of pressure. It seems like the price may soon test the $0.0210 support level.
Cardano price is slowly declining and it recently traded below the $0.0560 support level. ADA price might continue to slide and it could even test the key $0.0520 support level. Any further declines could lead the price towards the $0.0505 support area.
Looking at the total cryptocurrency market cap 4-hours chart, there was a strong rise above the $300.0B resistance level. The market cap even climbed above the $310.0B level and tested the $315.0B level. Recently, it corrected lower below the $300.0B support. However, the $290.0B support and a major bullish trend line on the same chart acted as a strong support. The market cap is moving higher, but it must surpass the $300.0B and $305.0B resistances for a fresh upward move in bitcoin, Ethereum, EOS, litecoin, ripple, ADA, BCH, TRX, ICX, XLM and other altcoins in the near term.
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