- The total crypto market cap is forming a major breakout pattern with resistance near $195.0B.
- Bitcoin price is slowly rising and it seems like it could climb above the $7,400 resistance.
- Binance coin (BNB) price is holding the $15.00 support and it is correcting higher.
- Litecoin (LTC) price is attempting a break above the $45.50 resistance area.
- BCH price is slowly recovering and it could revisit the $220 resistance area.
- Tron (TRX) price is now trading well below the $0.0150 resistance level.
Bitcoin (BTC) and the crypto market cap are approaching next crucial break. Ethereum (ETH), litecoin, ripple, BCH, XLM, TRX, BNB, and EOS are holding key supports.
Bitcoin Cash Price Analysis
After a strong rejection near the $225 resistance, bitcoin cash price declined below $215 against the US Dollar. BCH price tested the $205 support area and started trading in a range. It is currently rising slowly towards the $215 and $220 levels.
The main resistance on the upside is near the $225 level, above which the price could surge towards $240 and $250. On the downside, the $200 support holds the key in the near term.
Binance Coin (BNB), Litecoin (LTC) and Tron (TRX) Price Analysis
Binance coin (BNB) remained well bid above the $15.00 support area. BNB price is currently correcting higher and trading near $15.50. If it continues to rise, the $16.00 resistance area might spoil the recovery. A clear break above $16.00 is needed for upside continuation.
Litecoin price is holding the $43.50 support area, but at the same time trading below many key resistances. The first key resistance is near the $45.50 level, above which LTC price could recover towards the next major resistance near the $48.00 level. The main resistance is still near the $50.00 level.
Tron price declined recently below the $0.0145 support and tested the $0.0140 support area. TRX price is currently consolidating, with an immediate resistance near the $0.0145 level. On the downside, a close below the $0.0140 support could lead the price towards $0.0132 or $0.0130 in the coming days.
Looking at the total cryptocurrency market cap 4-hours chart, the $186.0B area is acting as a strong support. Similarly, there are many key hurdles near $195.0B and $200.0B. At the moment, it seems like there is a major breakout pattern forming with resistance near the $192.0B level.
If there is a clear break above the $192.0B and $195.0B resistance, the crypto market cap could start a decent upward move. If not, there could be another bearish reaction in bitcoin, Ethereum, EOS, litecoin, ripple, binance coin, BCH, TRX, XMR, XLM and other altcoins in the near term.
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