Crypto Market & Bitcoin Bloodbath Not Over Yet: LTC, BNB, BCH, TRX Analysis

  • The total crypto market cap declined heavily and tested the $200.0B support (yesterday’s target).
  • Bitcoin price is down more than 6% and it is approaching the long awaited $7,400 bearish target.
  • Binance coin (BNB) price is down around 5% and it is now trading well below $17.50.
  • Litecoin (LTC) price is under a lot of pressure and struggling to hold the $50.00 support area.
  • BCH price is extending losses and it is trading near the $220 support area.
  • Tron (TRX) price is down and out, with a major support near the $0.0150 level.

Bitcoin (BTC) and the crypto market cap tumbling with a strong bearish angle. BNB, TRX are recovering, while Ethereum (ETH), litecoin, ripple, BCH, XLM, and EOS down more than 5%.

Bitcoin Cash Price Analysis

In the past few days, BCH price followed a bearish path below the $265 support against the US Dollar. BCH even failed to hold the $235 support and recently declined more than 8%. It is now trading near the $220 support, below which there is a risk of more losses towards the $205 level.

On the upside, an initial resistance is near the $235 level. However, the main hurdle is now near the $250 level for the bulls.

Binance Coin (BNB), Litecoin (LTC) and Tron (TRX) Price Analysis

Binance coin (BNB) started a nasty decline after it settled below the $20.00 support area. BNB price broke many supports such as $18.50 and $17.80. BNB price is now trading near the $17.00 level and it seems like it could test the $16.20 support in the near term.

Litecoin price is down more than 8% and it traded below the $52.50 and $51.20 support levels. LTC price even spiked below $50.00 and it is now consolidating above the $50.00 level. On the upside, the previous support near $51.20 may perhaps act as a resistance.

Tron price is also under a lot of selling pressure and it broke the key $0.0165 support area. TRX price is now trading near the $0.0152 support and it might soon test the $0.0150 support area. On the upside, the $0.0162 and $0.0165 levels are now important…

Source Link