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Bitcoin & Crypto Market Signaling Downsides: BCH, XLM, EOS, TRX Analysis
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[Image: crypto-market-altcoins-drop-1200x780.jpg]
Bitcoin & Crypto Market Signaling Downsides: BCH, XLM, EOS, TRX Analysis

  • The total crypto market cap is declining and it is below the $185.0B support.
  • Bitcoin price is struggling to climb above $7,300 and it might decline below $7,000.
  • BCH price is testing the $200 support and it could continue to slide.
  • EOS price failed to stay above $2.600 and it is likely moving towards $2.500.
  • Stellar (XLM) price is now well below $0.0455 and it is showing bearish signs.
  • Tron (TRX) price is likely to break the key $0.0130 support in the near term.
Bitcoin (BTC) and the crypto market cap are signaling more downsides. Ethereum (ETH), BCH, stellar (XLM), ADA, EOS, ripple, and tron (TRX) remain at a risk of another decline.

Bitcoin Cash Price Analysis

Recently, bitcoin cash price climbed above $210 against the US Dollar. However, BCH price struggled to continue higher and it started a fresh decline below the $205 support. The price is now trading near the $200 support, with a bearish angle.

If there is a downside break below the $200 support, there is a risk of a sharp decline. The next major support is near the $185 level. On the upside, there are many hurdles near $210 and $215.

Stellar (XLM), EOS and Tron (TRX) Price Analysis

EOS price failed to gain strength above the $2.650 and $2.600 resistance levels and recently started a downside correction. It seems like the price might continue to decline towards the $2.500 support area. Conversely, it must settle above $2.650 to continue higher towards $2.800.

Stellar price is following a strong downtrend below the $0.0500 resistance. XLM price is now trading below the $0.0455 pivot level and it might continue to decline. The main supports on the downside are near $0.0420 and $0.0400.

Tron price is down more than 2% and it is trading below the $0.0135 support. An immediate support is near the $0.0130 level, below which there is a risk of a sharp decline towards the $0.0120 support area. On the upside, there are key hurdles forming near $0.0135 and $0.138.

[Image: Crypto-Market-Cap.png]
Crypto Market Cap

Looking at the total cryptocurrency market cap 4-hours chart, there were a few rejections near the $195.0B and $200.0B levels. As a result, there was a bearish reaction below $190.0B and a connecting bullish trend line. It seems like there is a risk of more downsides below the $185.0B and $180.0B support levels.

Therefore, there could be another decline in bitcoin, Ethereum, EOS, ripple, litecoin, bitcoin cash, XLM, TRX, BNB, WAN, WTC, ICX, and other altcoins in the near term. Conversely, the crypto market cap might rally above $195.0B and $200.0B.

by Aayush Jindal

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