Bitcoin And Crypto Market Facing Hurdles: BCH, EOS, TRX, ADA Analysis
- The total crypto market cap is currently consolidating losses above the $188.0B support area.
- Bitcoin price is also trading in a range above the $7,000 support area.
- EOS price is holding the $2.500 support area and it is rising towards the $2.650 resistance.
- BCH price is also somehow holding the main $205 and $200 support levels.
- Tron (TRX) price is declining and it recently traded below the $0.0140 support.
- Cardano (ADA) price is recovering, but facing hurdles near $0.0385 and $0.0400.
Bitcoin Cash Price Analysis
Recently, bitcoin cash price declined below the $210 level against the US Dollar. BCH price even spiked below the $205 support area, but it somehow managed to stay above the $200 support area. The price is currently consolidating losses above $205 and it could correct higher.
On the upside, the previous support near the $215 level is now likely to act as a strong resistance. The main resistances are still near the $220 and $225 levels.
EOS, Tron (TRX) and ADA Price Analysis
EOS price declined and tested the $2.500 support area, where the bulls emerged. The price is currently correcting higher above $2.550. On the upside, the bulls are likely to face a couple of major hurdles near the $2.650 and $2.700 levels. On the downside, the key support remains $2.500.
Tron price remained in a bearish zone and followed a declining path after it broke the key $0.0150 support. TRX price even broke the $0.0140 support and it is down around 2% today. It could continue to move down towards the $0.0135 support.
Cardano price settled below the key $0.0400 support area. ADA price tested the $0.0350 support area and it is currently correcting higher. However, there are many resistances on the upside near the $0.0385 and $0.0400. Only a close above the $0.0400 resistance may perhaps start a decent recovery towards the $0.0500 level.
Looking at the total cryptocurrency market cap 4-hours chart, there was a steady decline below the $200.0B and $195.0B support levels. The crypto market cap is currently consolidating above the $188.0B support area and it might correct higher. However, it is likely to face a strong resistance near the $195.0B and $200.0B levels.
Overall, upsides are likely to remain capped in bitcoin, ETH, XRP, TRX, ADA, bitcoin cash, litecoin, EOS, stellar, IOTA, ICX, WAN, and other altcoins in the coming sessions.
Published at Fri, 13 Dec 2019 05:30:42 +0000