- The total crypto market cap declined heavily and settled below the $205.0B support area.
- Bitcoin price is trading in a bearish zone and facing hurdles near $7,500 and $7,600.
- Litecoin (LTC) price is correcting higher, but it could face resistance near $50.00 and $51.00.
- BCH price is slowly moving closer towards the $220 resistance area.
- EOS price is correcting higher, but the $2.850 area is likely to prevent gains.
- Binance coin (BNB) is holding the $16.20 support area and it could recover towards $17.20.
Bitcoin Cash Price Analysis
In the past two days, BCH price faced an increase in selling pressure and it declined below the $215 support area against the US Dollar. The price tested the $200 support area and it is currently correcting higher. On the upside, there are many hurdles for buyers near the $220, $225 and $230 levels.
On the downside, the main support is near the $205 and $200 levels. A daily close below the $200 support might start a sharp decline in the coming sessions.
Binance Coin (BNB), Litecoin (LTC) and EOS Price Analysis
Binance coin (BNB) price declined heavily below the $17.50 and $17.00 support levels. BNB price broke the $16.50 support area, but it is still trading above the $16.20 support. Therefore, there are chances of an upside correction towards the $17.20 and $17.50 resistance levels in the near term.
Litecoin price declined below the $51.00 support and settled below $50.00. LTC price tested the $47.00 area and it is currently correcting higher. However, the previous supports near the $50.00 and $51.00 levels are likely to act as strong barriers for the bulls in the coming sessions.
EOS price declined heavily and tested the $2.550 support area. The price is currently correcting higher and is trading above the $2.650 level. However, the previous support near the $2.850 level is likely to act as a strong resistance for the bulls.
Looking at the total cryptocurrency market cap hourly chart, there was a sharp decline below the $205.0B and $200.0B support levels. It opened the doors for more losses and the market cap declined towards the $190.0B level. It is currently correcting higher, but it seems like the previous support near $200.0B and $205.0B are likely to prevent gains. On the downside, the main supports are near $285.0B and $280.0B. Overall, upsides might be limited in bitcoin, Ethereum, EOS, litecoin, ripple, ADA, BCH, XLM, BNB, TRX, XMR, and other altcoins.
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