- The total crypto market cap failed to surpass the key $280.0 resistance area.
- Bitcoin price started a downside correction and traded below the $10,800 support.
- Litecoin (LTC) price is struggling to correct higher and is testing the $75.00 support.
- BCH price is currently correcting lower and it might test the $305 support area.
- Tron (TRX) price is extending losses and it remains in a strong downtrend below $0.0185.
- Cardano (ADA) price broke the key $0.0500 support level to extend its slide.
Bitcoin Cash Price Analysis
Bitcoin cash price failed to gain strength above the $320 resistance area against the US Dollar. The BCH/USD pair started a fresh downward move and broke the $315 level. The price is now approaching the $310 support, but it seems like it might test the $305 support level in the near term.
On the upside, there are many important hurdles for the bulls near the $320 and $330 levels. Conversely, a downside break below the $305 support might call for more losses.
Cardano (ADA), Litecoin (LTC) and Tron (TRX) Price Analysis
Litecoin price remained in a bearish zone below the $80.00 support level. LTC price is struggling to correct higher and is testing the $75.00 support. If there is a downside break below the $75.00 support, the bears could aim the $72.00 and $70.00 support levels. On the upside, the main resistances are near the $80.00 and $82.00 levels.
Tron price is extending its decline and is trading well below the $0.0180 and $0.0185 resistance levels. TRX price is now approaching the $0.0172 support level, below which there is a risk of another slide towards the $0.0165 support level.
Cardano price struggled to stay above the $0.0520 and $0.0500 support levels. ADA price is now trading near the $0.0480 level. If the bears remain in action, there are chances of a drop towards the $0.0450 level in the coming sessions. On the upside, the previous supports near $0.0500 and $0.0520 are likely to prevent gains.
Looking at the total cryptocurrency market cap 4-hours chart, there was a decent upward move above the $270.0B resistance level. However, the $278.0B and $280.0B resistance levels acted as a strong barrier and prevented gains. The market cap is currently correcting lower, but it might find support near the $265B level. There is also an ascending channel forming with support near the $265.0B level. If there is a downside break below $265.0B, bitcoin, Ethereum, EOS, litecoin, ripple, ADA, BCH, TRX, ICX, XLM and other altcoins could decline sharply in the near term.
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