- The total crypto market cap corrected lower sharply from the $250.0B resistance area.
- Bitcoin price is down more than 10% and it recently broke the $7,500 support.
- EOS price declined heavily below the $6.40 and $6.20 support levels.
- Binance Coin (BNB) is down around 10% and it is currently trading near the $24.20 support.
- Bitcoin cash price fell more than 12% and it broke the $400 and $385 support levels.
- Tron (TRX) price nosedived more than 18% and broke the $0.0300 and $0.0280 supports.
Bitcoin Cash Price Analysis
This week, we saw a strong rise in bitcoin cash price above the $400 and $420 resistance levels against the US Dollar. The BCH/USD pair even spiked above the $440 resistance and tested the main $450 resistance level. Recently, it started a strong downside correction and broke many supports near the $420 and $400 levels.
The pair is currently down more than 12% and is trading near the $375 support. If there are more losses, the price may even test the $365 support level in the near term.
Binance Coin (BNB), EOS, Tron (TRX) Price Analysis
EOS price traded towards the $6.90 level before starting a strong decline. The price broke the $6.50 and $6.40 support levels to move into a short term bearish zone. The decline was such that the price even broke $6.20 and it is currently testing the main $6.00 support.
Tron price trimmed most its gains from well above the $0.0300 support level. TRX price is down more than 18% and it is now trading well below $0.0280. An immediate support is $0.0260, below which it could test $0.0250.
Binance coin (BNB) is also down more than 10% and it recently broke the $26.00 and $25.00 support levels. BNB price is trading near the $24.20 support and it seems like it could test the $23.80 or $23.50 support levels in the coming sessions.
Looking at the total cryptocurrency market cap 4-hours chart, there was a sharp rally above the $225.0B resistance level. The market cap even spiked above the $250.0B level and recently started a major downside correction. It is down more than $30.0B and tested the $210.0B support level. During the decline, it broke a connecting bullish trend line at $235.0B and it is currently holding another bullish trend line with current support at $216.0B. As long as the market cap is above the $210.0B and $200.0B support levels, there could be a fresh increase in bitcoin, Ethereum, TRX, LTC, EOS, ripple, ADA, XLM, WTC, BCH, and ICX.