- The total crypto market cap declined sharply and tested an important support near $210.0B.
- bitcoin price is showing signs of a decent recovery above the $7,200 support level.
- Litecoin (LTC) price failed to stay above the $100 level and recently declined below $90.
- bitcoin cash price is down more than $90 from the recent high and broke the $380 support.
- EOS price is once again below the key $6.20 and $6.00 support levels.
- Stellar (XLM) price is gaining traction and it is up more than 7% to $0.1310.
The crypto market cap is currently holding a crucial support, with range moves in bitcoin () and (ETH). Altcoins such as LTC, , bitcoin cash, EOS, TRX, and stellar slowly recovering.
bitcoin Cash Price Analysis
bitcoin cash price surged towards the $450 level and recently declined heavily against the US Dollar. The BCH/USD pair broke the $400 and $385 support levels to enter a bearish zone. The recent decline was such that the price even broke the $365 support and tested the $350 support level.
The price is currently consolidating above the $350 support and it could correct higher in the short term. An immediate resistance is at $375, above which the price may test the $385 level.
Litecoin (LTC), EOS and Stellar (XLM) Price Analysis
Litecoin price failed to stay above the $100 level and topped near the $107 level. LTC price is down sharply and it recently traded below the $100, $95 and $92 support levels. The price even broke $90 and tested the $85 support level.
EOS price recently traded below the key $6.40 and $6.20 support levels. More importantly, it broke the $6.00 support level and the price test the $5.85 support. It could recover in the short term and might test $6.00 or $6.20.
Stellar price is performing well and remained well bid above the $0.1150 support level. XLM price is up more than 7% and it recently broke the $0.1250 and $0.1300 resistance levels. The next key hurdles are $0.1350 and $0.1380, where sellers may emerge.
Looking at the total cryptocurrency market cap 4-hours , there was a sharp bearish reaction from well above the $250.0B level. The market cap declined more than $40.0B and tested the $210.0B support area. It seems like there is a strong support forming near the $210.0B level and a connecting bullish trend line on the same chart. Therefore, as long as the market cap is above the trend line and $210.0B, there could be upsides in bitcoin, Ethereum, EOS, litecoin, ripple, XLM, BCH, ADA, BNB, TRX, ICX, and other altcoins in the coming sessions. If not, there could be a downside extension towards the $200.0B support area.
Published at Sat, 18 May 2019 14:08:43 +0000
