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Crypto Market And Bitcoin Might Decline Further: BCH, EOS, TRX, ADA Analysis

  • The total crypto market cap is following a bearish pattern below the $230.0B level.
  • Bitcoin price is facing an increase in selling pressure below $8,600 and $8,500.
  • EOS price is currently struggling to stay above the key $3.350 support area.
  • BCH price extended decline and broke the $280 and $265 support levels.
  • Tron (TRX) price is currently trading near the key $0.0185 support area.
  • Cardano (ADA) price is showing positive signs above the $0.0420 support.

Bitcoin and the crypto market cap are currently declining. Ethereum (ETH), EOS, Tron (TRX), BCH, ripple, ADA, ripple, and BNB remains at a risk of more downsides.

Bitcoin Cash Price Analysis

Recently, BCH price started a fresh decline after it failed to stay above the $285 support against the US Dollar. The price even broke the $280 support level and recently broke the $265 support. The next major support is near the $250 level, below which the bears may even eye a test of the $200 handle.

On the upside, the previous key support near the $280 level is now likely to act as a strong resistance. A clear close above $280 is needed for upside acceleration.

EOS, Tron (TRX) and ADA Price Analysis

EOS price broke a couple of important supports near the $3.500 level. The price even traded below $3.400 and it is currently struggling to hold the $3.350 support area. The next key support zone is near the $3.200 level. On the upside, the $3.500 level may perhaps prevent a fresh increase in the near term.

Recently, tron price trimmed most its gains from well above the $0.0200 level. TRX price traded below $0.0190 and even spiked below the $0.0185 support. The price is currently consolidating and it is likely to revisit the $0.0190 and $0.0192 resistance levels.

Cardano price declined this past week below the $0.0440 level. However, the $0.0420 area acted as a strong support and prevented more downsides. At the moment, the price is trading with positive signs and trading nicely above the $0.0440 level. The main resistance is near $0.0450, followed by 0.0465.

Crypto Market Cap

Looking at the total cryptocurrency market cap 4-hours chart, there was a downside break below the $230.0B support area. The market cap is currently declining and following a bearish channel with resistance near the $228.0B level. It seems like the market cap could retest the $215.0B or $210.0B support area before a decent recovery.

Bitcoin Crypto Market Altcoins ETH XRP EOS BNB TRX ADA LTC

Crypto Market Cap

Overall, there is a risk of more downsides in bitcoin, ETH, XRP, TRX, ADA, bitcoin cash, litecoin, EOS, stellar, IOTA, ICX, WAN, and other altcoins in the coming sessions.

The post Crypto Market And Bitcoin Might Decline Further: BCH, EOS, TRX, ADA Analysis appeared first on NewsBTC.



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