- The total crypto market cap started a downside correction after testing the $267.7B level.
- Binance coin (BNB) price failed to stay above the $35.00 level and declined below $33.20.
- Litecoin (LTC) price is still well above the $105.00 and $102.00 support levels.
- Bitcoin cash price started a downside correction after testing the key $450 resistance.
- Tron (TRX) price corrected lower sharply after it rallied towards the $0.0360 level.
Bitcoin Cash Price Analysis
After a decent upward move, bitcoin cash price failed to gain momentum above the $445 and $450 resistance levels against the US Dollar. The BCH/USD pair started a downside correction and broke the $440 and $430 support levels. The pair is now testing the $425 level and it could even test the $420 support area.
The next key support are near $405 and $400. As long as the price is above $400, it is likely to bounce back above $430 and $440 in the coming sessions.
Binance Coin (BNB), Litecoin (LTC) and Tron (TRX) Price Analysis
Binance coin (BNB) price started a slow and steady downside correction after it failed near the $35.00 resistance. BNB price broke the $34.00 and $33.20 support levels to enter a short term bearish zone. At the moment, the price is trading below $33.00 level, with an immediate support at $32.80 and $32.60.
Litecoin price is currently stable above the $110.00 level, with a few bearish signs. On the downside, an immediate support is at $110.00, below which the price could test the $107.00 or $105.00 support level. The main support for the bulls is near the $102.00 area. On the upside, the key resistances are near $115.00 and $120.00.
Tron price rallied sharply in the past few sessions above the $0.0320 and $0.0350 resistance levels. TRX price tested the $0.0360 resistance area and it is currently correcting lower. It broke the $0.0350 support and it seems like it is heading towards the $0.0320 support.
Looking at the total cryptocurrency market cap hourly chart, a downside correction was initiated from the $267.7B swing high. The market cap declined below the $265.0B support and an ascending channel support on the same chart. However, there are many important supports on the downside near the $255.0B and $250.0B levels. As long as the market cap is above the $250.0B support, there could be a fresh increase in bitcoin, Ethereum, EOS, litecoin, ripple, binance coin, BCH, TRX, XMR, XLM and other altcoins in the near term. If not, there might be more downsides towards the $242.0B support area.
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