- The total crypto market cap dived more than $50.0B and tested the $200.0B support.
- Bitcoin price is down more than 10% and it is currently consolidating below the $8,500.
- Binance coin (BNB) price tumbled below the $18.50 and $16.50 support levels.
- Litecoin (LTC) price is now trading well below the key $60.00 support area.
- BCH price tested the $200 level and it is currently consolidating near the $220 level.
- Tron (TRX) price spiked below the $0.0120 support area and it is currently correcting higher.
Bitcoin Cash Price Analysis
BCH price started a nasty decline after it broke the $300 and $285 support levels against the US Dollar. The BCH/USD pair even broke the $250 support area and declined more than $75 in the past two days. It even tested the $200 support area and is currently consolidating near the $220 level.
On the upside, an initial resistance is near the $235 level. However, the main resistance for a strong recovery is near the $250 level. On the downside, the key support is near the $200 level.
Binance Coin (BNB), Litecoin (LTC) and Tron (TRX) Price Analysis
Binance coin (BNB) price declined more than 20% after it broke the $20.00 support area. BNB price traded below the key $18.50 and $16.50 support levels. Finally, it spiked below the $15.00 support and is currently consolidating losses near the $16.00 level. On the upside, there are many resistances near $16.20 and $16.50.
Litecoin price fell significantly after it failed to stay above the $70.00 and $65.00 support levels. LTC price declined below the $60.00 support and traded close to the $50.00 support area. A low was formed near $52.20 and the price is currently correcting towards the $58.00 and $60.00 resistance levels.
Tron price is down more than 25% and it recently broke many supports such as $0.0150 and $0.0140. TRX price even spiked below the $0.0120 level and traded towards $0.0112. It is currently correcting above $0.0125, but it is likely to face resistance near $0.0135 and $0.0140.
Looking at the total cryptocurrency market cap 4-hours chart, there was a nasty decline below the key $250.0B support area. The market cap declined around $50.0B and tested the $200.0B support area. It is currently consolidating losses above $210.0B. However, it seems like there is a bearish continuation pattern forming with resistance near $220.0B. If there is a downside break below $208.0B and $205.0B, there are chances of more losses in bitcoin, Ethereum, EOS, litecoin, ripple, binance coin, BCH, TRX, XMR, XLM and other altcoins in the near term.
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