- The total crypto market cap failed to move above the $134.0B resistance and declined heavily.
- Litecoin (LTC) price moved down and broke the $62 and $60 support levels.
- Bitcoin cash price is down more than 4% and it recently broke the $160 support level.
- Tron (TRX) price declined recently, but it is still above the key $0.0220 support.
- Cardano (ADA) price is currently consolidating above the $0.0600 support level.
Bitcoin Cash Price Analysis
Bitcoin cash price failed to clear the $165 resistance recently and declined against the US Dollar. The BCH/USD pair started a downside move and broke the $162 and $160 support levels. The price is down more than 4% and it seems like it could accelerate losses towards the $158 or $155 support levels.
On the upside, an initial resistance is near the $162 level. If there is an upside break above $162, the price is likely to revisit the key $165 resistance area in the near term.
Litecoin (LTC), Tron (TRX) and Cardano (ADA) Price Analysis
Litecoin price performed really well this past week and traded above the $60 and $62 resistance levels. However, the price struggled to remain in a positive zone and it recently declined below the $60 support. LTC price may continue to move down and it could retest the $55 support level.
Tron price struggled to clear the $0.0230 resistance level and it recently declined. TRX price is down around 2%, but it is still trading above the $0.0222 and $0.0220 support levels. On the upside, the main hurdle is near $0.0230 and $0.0232.
Cardano price climbed higher in the past few days above the $0.0550 and $0.0580 resistance levels. ADA price even broke the $0.0600 resistance and it is currently consolidating gains. The next move could either be towards $0.0550 or $0.0650 in the near term.
Looking at the total cryptocurrency market cap hourly chart, there was a slow and steady decline from the $134.0B resistance level. Later, the market cap declined below the $132.1B support, opening the doors for more losses. It declined below $130.0B and tested the $129.0B level. It is currently correcting higher, but upsides are likely to remain capped near the $131.5B and $132.0B levels. There is also a crucial bearish trend line in place with current resistance at $132.1B on the same chart. Therefore, upsides in bitcoin, Ethereum, EOS, litecoin, ripple, ADA, BCH, TRX, XMR, XLM and other altcoins are likely to face a lot of hurdles in the near term.