Crypto News

Bitcoin And Crypto Market Cap Turn Red: BCH, Litecoin, XTZ, TRX Analysis

  • The total crypto market cap is declining and struggling to stay above the $188.0B support.
  • Bitcoin price is down more than 2% and it broke the $7,320 support area.
  • Litecoin (LTC) price is sliding and it may soon test the $42.20 level.
  • BCH price is struggling and it seems like it could break the $200 support area.
  • Tron (TRX) price is currently consolidating near the main $0.0140 support area.
  • Tezos (XTZ) it outperforming and it is now trading nicely above $1.500.

The crypto market cap and bitcoin (BTC) are declining and facing hurdles. Tezos (XTZ) is rising, while Ethereum (ETH), litecoin (LTC), ripple, BCH, tron (TRX), and other altcoins are sliding.

Bitcoin Cash Price Analysis

After struggling to clear the $225 resistance, bitcoin cash price started a slow decrease against the US Dollar. BCH price traded below the $215 and $210 levels. It is currently trading near the $205 support and it seems like it could continue to decline.

If the bulls fail to defend the main $200 support, there is a risk of a downside extension in the near term. The next major support is near the $185 level.

Litecoin (LTC), Tron (TRX) and Tezos (XTZ) Price Analysis

Litecoin price is still following a bearish pattern below the $46.20 and $48.00 resistance levels. LTC is now trading below $45.00 and it seems like it could even trade below $44.00. In the mentioned case, the next key support is seen near the $42.20 level, below which the price may perhaps test $40.00.

Tron price is now trading well below the $0.0150 pivot level. TRX price is struggling and it might decline below the $0.0140 support area. If the bears gain traction below $0.0140, the price could trade towards the $0.0135 and $0.0132 levels.

Tezos performed really well in the past few days and it surpassed the market cap of cardano and tron. XTZ price is now trading nicely above the $1.4000 and $1.5000 resistance levels. However, there could be a short term downside correction towards the $1.4200 level.

Bitcoin and Crypto Market Cap

Crypto Market Cap

Looking at the total cryptocurrency market cap 4-hours chart, there was another failure near the $200.0B resistance area. The crypto market cap declined recently below the $195.0B support. It is now approaching the $188.0B support, below which there is a risk of further losses. The next major support is near the $182.0B level.

Conversely, a successful close above the $200.0B resistance is needed for a nice recovery in bitcoin, Ethereum, EOS, litecoin, ripple, XLM, BCH, BNB, TRX, ADA, XMR, and other altcoins in the near term.

The post Bitcoin And Crypto Market Cap Turn Red: BCH, Litecoin, XTZ, TRX Analysis appeared first on NewsBTC.

How useful was this post?

Click on a star to rate it!

As you found this post useful...

Follow us on social media!

Related Crypto News

Correlation Between Bitcoin Price and Stocks Reaches a New All-Time High
Bitcoin’s correlation to the S&P 500 has reached a new all-time-high, what does this mean for BTC price? Lately,...
Unless Bitcoin Breaks Through These 2 Levels, a Crash to $7,000 Is “Logical”
After attempting to rally through $9,500 this week, Bitcoin failed to sustain its bullish momentum yet again. As of...
Researcher Says Ethereum 2.0 May Be Delayed — Increasing Risk to ETH Bulls
One of the biggest Ethereum narratives over the past few months is ETH 2.0. For those that are unaware,...
84% of Crypto Twitter Is Buying or Holding Bitcoin, Boosting Bull Case
There have been many analysts over recent weeks arguing that Bitcoin is clearly at a market top. As NewsBTC...
Why One Outspoken Bitcoin Bull Recommends Holding More Gold Than BTC
Bitcoin and gold have formed a striking correlation throughout 2020, although this has shown some signs of degrading over...
TikTok Dogecoin Pump Purveyors Experience Their First Crypto Dump
This week, the altcoin named after an internet meme, Dogecoin, went viral on social platform TikTok. Users of the...

Featured Crypto News

Crypto Research Firm Identifies 3 “Big” Bitcoin Bull Run Catalysts
When analyzing Bitcoin, many investors cast aside fundamentals and only focus on the price action. Hence, as the cryptocurrency...
Switching Bitcoin to 100% ASIC Mining Could Increase Security 2000X
ASIC miners are the best option for Bitcoin network security well into the future, new research has found. The...
‘Significant’ Ethereum Rally Signals New Altcoin Season — Peter Brandt
Ethereum price saw a bullish breakout against Bitcoin on July 9 and veteran trader Peter Brandt believes this could...
Max Keiser: Bitcoin Will “Eviscerate” Competitors, Rally to $100,000 Per Coin
Altcoins have been all the rage over recent weeks, rallying dozens of percent as Bitcoin has stalled in the...
New York Court Rejects Bitfinex Appeal Over $850M in Lost Funds
New York’s Supreme Court has rejected Bitfinex and Tether’s appeal in the ongoing dispute between the firms and the...
Bloomberg Analyst: Key Metrics Show Bitcoin Should Rocket Towards $12,000
It’s been a slow past few weeks for the Bitcoin market. The cryptocurrency has effectively been range-bound for two...