- The total crypto market cap is holding the key $120.0B support, but it remains at a risk of more losses.
- EOS price fell more than 5% and it broke the $3.50 and $3.40 support levels.
- Binance Coin (BNB) outperformed and rallied more than 8% above $12.20.
- bitcoin cash price tested the $125 support and it could decline further in the near term.
- Tron (TRX) price tested the key $0.0220 support level and it is currently consolidating.
The crypto market is under a lot of selling pressure, with bearish moves in bitcoin () and (ETH). Binance coin (BNB) is holding the ground, while BCH, , EOS, TRX and ADA extending losses.
bitcoin Cash Price Analysis
bitcoin cash price extended losses below the $130 support level against the US Dollar. The BCH/USD pair broke the $128 and $126 support levels and it recently tested the $125 support. The price is currently consolidating in a range and it seems like there could be a downside spike towards the $124 or $122 support level.
On the upside, an initial resistance is near the $128 level. The main resistance is near the $130 level, above which the price could move into a positive zone in the near term.
EOS, Tron (TRX) and BNB Price Analysis
EOS price reversed most its gains and declined below the $3.60 support level. Sellers gained pace below the $3.50 and $3.40 support levels recently. It tested the $3.25 support level and it seems like sellers are aiming for the $3.15 support level. On the upside, there are many hurdles near $3.35, $3.40 and $3.50.
Tron price settled below the key $0.0240 support level and moved into a bearish zone. TRX price is currently trading above the $0.0220 support and consolidating losses. In the short-term, there could be a minor correction towards the $0.0235 and $0.0240 resistance levels.
Binance coin (BNB) and held the crypto market. BNB price rallied above the $12.00 and $12.20 resistance levels. It is currently up more than 8% and it could continue to rise towards the $12.50 resistance level.
Looking at the total cryptocurrency market cap hourly , there was a downside extension below the $122.0B support and a declining channel. The market cap declined towards the $120.0B support and later rebounded. A new declining channel in place, with resistance near the $121.5B level. In the short-term, there could be an upward move, but the previous supports near $122.0B and $123.0B are likely to act as resistances for buyers. Therefore, there is a risk of more losses in bitcoin, ETH, tron, litecoin, EOS, ripple, cardano, XLM, ICX, BCH, XMR and other altcoins in the coming sessions.
Published at Tue, 05 Mar 2019 06:00:25 +0000
