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Bitcoin And Crypto Market Remains Vulnerable: BCH, XLM, EOS, TRX Analysis

The total crypto market cap declined heavily and tested the $285.0B support area.
Bitcoin price is under a lot of pressure and it recently tested the $11,000 support area.
BCH price is down 5% today and it settled below the $350 support area.
EOS price is currently correcting higher, but it may face hurdles near the $4.80 level.
Stellar (XLM) price tumbled below the $0.0900 level and even tested the $0.0850 support.
Tron (TRX) price extended losses by more than 8% and broke the $0.0300 support area.

The crypto market cap and bitcoin (BTC) declined heavily below key supports. Ethereum (ETH), BCH, stellar (XLM), ADA, EOS, ripple, and tron (TRX) are currently under a lot of selling pressure.

Bitcoin Cash Price Analysis

There was a strong decline in bitcoin cash price after it broke the key $380 support area against the US Dollar. The BCH/USD pair even traded below the $360 support and settled below the $350 level. The pair is currently consolidating losses, but it remains at a risk of more losses below $340 and $335.

The main support on the downside is near the $320 zone, below which there is a risk of a test of $300. On the upside, a close above the $380 level is needed for a decent recovery.

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

EOS price declined sharply below the $5.000 and $4.500 support levels. It tested the $4.400 support level and is correcting higher. However, there are a few important resistances on the upside near the $4.75 and $4.80 levels, above which the price could recover positively.

Stellar price came under a lot of selling pressure after it broke the main $0.1000 support level. XLM price even cleared the $0.0920 support level and traded close to the $0.0850 level. If there are more losses, the price may even test the $0.0800 support level.

Tron price is extending losses below the $0.0320 and $0.0300 support levels. TRX price is down more than 8% today and it could continue to slide towards the $0.0280 support level. On the upside, the main resistances are near $0.0295 and $0.0300.

Looking at the total cryptocurrency market cap 4-hours chart, there was a sharp decline below the $330.0B and $320.0B support levels. The market cap even broke the key $300.0B support area and moved closer towards the $285.0B support area. In the short term, there could be an upside correction, but the market cap is likely to face resistance near the $305.0B and $308.0B levels. Therefore, there are chances of more losses in bitcoin, Ethereum, EOS, ripple, litecoin, bitcoin cash, XLM, TRX, BNB, WAN, WTC, ICX, and other altcoins in the near term.

The post Bitcoin And Crypto Market Remains Vulnerable: BCH, XLM, EOS, TRX Analysis appeared first on NewsBTC.

11.07.2019 / 22:20 58
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