Crypto Market And Bitcoin Starts Fresh Decline: BCH, BNB, EOS, TRX Analysis

  • The total crypto market cap failed to climb above $325.0B resistance and declined recently.
  • Bitcoin price was rejected near the $12,000 resistance and it recently declined below $11,400.
  • EOS price is currently below $5.850 and it is facing a lot of selling interest.
  • Binance Coin (BNB) is currently flat and is trading nicely above the $32.50 support area.
  • BCH price is down around 4% and it is currently trading near the key $400 support area.
  • Tron (TRX) price failed to hold the $0.0320 support and it remains at a risk of more losses.

Bitcoin and the crypto market cap started a fresh downward move. Ethereum (ETH), binance coin (BNB), BCH, tron (TRX), ripple, litecoin and EOS are currently trading with a bearish angle.

Bitcoin Cash Price Analysis

After a decent recovery, BCH price failed to climb above the $420 resistance against the US Dollar. The BCH/USD pair started a fresh decline and broke a few important supports near the $415 and $410 levels. It is now trading near the $400 support area, below which it could slide towards the $385 level.

On the upside, the $410 and $415 levels are likely to act as resistance. The main resistance is still near the $420 level.

Binance Coin (BNB), EOS, Tron (TRX) Price Analysis

EOS price failed to settle above the key $6.000 pivot level and recently started a fresh decline. It broke the key $5.900 support level and even traded below the $5.85 support level. It is now trading well below the $5.800 level and it could continue to move down towards the $5.600 support area.

Tron price struggled to stay above the main 0.0332 support level. TRX price started a fresh decline and broke the $0.0320 support area. It seems like the price may even test the $0.0305 support level before it could rise again.

Binance coin (BNB) was stable above the $32.00 and $32.50 support levels. There was hardly any decline and BNB price is slowly rising towards the $33.00 level. An upside break above the $33.20 resistance level is needed for a bullish acceleration in the near term.

Looking at the total cryptocurrency market cap 4-hours chart, after a decent upward move above the $300.0B and $310.0B resistance levels, there was a rejection near the $325.0B resistance zone. The market cap failed to continue higher and recently started a downside correction. There was a break below the $310.0B support level and the cap tested the $300.0B support area. On the upside, there is a strong resistance forming near $320.0B. On the downside, a break below $300.0B might spark more downsides in bitcoin, Ethereum, TRX, LTC, EOS, ripple, ADA, XLM, WTC, BCH, and ICX in the near term.

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