- The total crypto market cap is facing a strong resistance near the $190.0B and $195.0B levels.
- Bitcoin price is also struggling to surpass the $7,300 and $7,400 resistance levels.
- Litecoin (LTC) price is declining and it might trade below the $45.00 support area.
- BCH price is struggling to hold the key $205 and $200 support levels.
- Tron (TRX) price is up more than 2% and it is approaching the $0.0150 resistance.
- Cardano (ADA) price is now trading well below the $0.0138 and $0.0140 levels.
Bitcoin (BTC) and the crypto market cap are flirting with important resistances. Ethereum (ETH), LTC, BCH, EOS, cardano, ripple, TRX, XLM and BNB are struggling to correct higher.
Bitcoin Cash Price Analysis
After a strong decline, bitcoin cash price climbed back above the $200 resistance area against the US Dollar. However, the BCH/USD pair failed to gain momentum above $215 and it is slowly moving lower. An immediate support is near the $205 level, below which it could struggle to hold the $200 support.
On the downside, a break below $200 might call for a fresh drop towards $185. On the upside, the main hurdles for run towards $250 are near $215 and $225.
Cardano (ADA), Litecoin (LTC) and Tron (TRX) Price Analysis
Litecoin price is struggling to gain traction above the $47.00 level and it is currently declining. An initial support is near the $45.00 level, below which LTC price might continue to move down towards the $43.00 and $42.20 support levels. On the upside, the $47.00 and $47.50 levels are strong barriers.
Tron price is currently up more than 2% and it seems like the bulls are aiming a break above the $0.01500 resistance level. In the mentioned case, TRX price is likely to accelerate higher towards the $0.0155 and $0.0158 levels.
Cardano price is trading in a nasty downtrend below the $0.0400 and $0.0385 levels. ADA price is likely to test the $0.0350 support area, below which there is an open way towards the $0.0310 level.
Looking at the total cryptocurrency market cap 4-hours chart, there was a decent recovery from the $172.0B support area. The market cap climbed above the $185.0B resistance, but it is facing a strong resistance near the $190.0B and $195.0B levels. Moreover, there is a declining channel in place with resistance near $190.0B.
Therefore, a clear break above $190.0B and $195.0B is needed for a fresh increase in bitcoin, Ethereum, EOS, litecoin, ripple, ADA, BCH, TRX, ICX, XLM and other altcoins in the near term. If not, the crypto market is likely to resume decline and the market cap could revisit the $172.0B support.