- The total crypto market cap is under pressure below the main $200.0B resistance.
- Bitcoin price is struggling to stay above the $7,000 support area.
- Litecoin (LTC) price is down more than 3% and it traded below the $44.50 support.
- BCH price is down 4% and it is approaching the main $200 support area.
- EOS price is declining and it seems like it could even trade below the $2.500 support.
- Binance coin (BNB) is testing the $15.00 support and remains at a risk of more losses.
Bitcoin Cash Price Analysis
After a decent upward move, bitcoin cash price struggled to surpass the $220 and $225 resistance levels against the US Dollar. As a result, BCH price reacted to the downside and traded below the $210 support. The price is now trading near $205 and it could continue to decline towards the $200 support.
If there are more downsides, the next stop for the bears could be $185. On the upside, there are many hurdles near $215, $220 and $225.
Binance Coin (BNB), Litecoin (LTC) and EOS Price Analysis
Binance coin (BNB) price failed to recover above the $16.00 and $16.20 resistance levels. BNB price declined and it is now trading near the $15.00 support area. If there is a downside break, the price could continue to move down towards the $14.40 and $14.15 support levels. On the upside, the $16.00 resistance zone is a major hurdle.
Litecoin price is declining and it recently traded below the $45.00 and $44.50 support levels. LTC price is approaching the $43.20 support, below which it could head towards the $41.00 area. The next major support area is near the $40.00 handle.
EOS price is sliding below $2.650 and $2.600. It seems like the price is heading towards the $2.500 support area. If there are more losses, the price may perhaps revisit the $2.350 support area. On the upside, the $2.650 and $2.7000 levels are key resistances.
Looking at the total cryptocurrency market cap hourly chart, there was a steady decline from well above the $205.0B level. The crypto market cap settled below the $200.0B support and it is currently following a declining channel. The next major support is near the $182.0B level, below which the cap could slide towards $173.0B.
Overall, there are chances of more downsides in bitcoin, Ethereum, EOS, litecoin, ripple, ADA, BCH, XLM, BNB, TRX, XMR, and other altcoins in the near term.