- The total crypto market cap declined sharply and broke the $108.00B support level.
- EOS price traded lower and broke the $2.38 and $2.35 support levels.
- Binance Coin (BNB) outperformed and traded higher by more than 9%.
- bitcoin cash price is down more than 5% and broke the $115 support level.
- Tron (TRX) price retreated from well above $0.0265 and tested the $0.0255 support.
The crypto market declined heavily, dragged by ₿itcoin () and . Binance coin (BNB) outperformed while coins like BCH, , EOS, TRX and ADA declined sharply.
bitcoin Cash Price Analysis
bitcoin cash price failed to stay above the $120 resistance and declined below the $118 support against the US Dollar. The BCH/USD pair extended losses and traded below the $115 support level. The pair is currently trading in a bearish zone and it could test the $112 or $110 support level.
On the upside, the previous support near the $115 level is likely to act as a solid resistance. The next key resistances are $118 and $120.
EOS, Tron (TRX) and BNB Price Analysis
EOS price failed to gain momentum above the $2.40 level. As a result, there was a sharp decline below the $2.38 and $2.35 support level. An immediate support is at $2.30, followed by the $2.25 level.
Tron started faced a strong selling interest near the $0.0270 level after the . TRX price started a fresh decline and traded below the $0.0262 and $0.0260 support levels.
Binance coin gained momentum recently and rallied more than 9%. BNB price traded above the $7.20 and $7.50 resistance levels. The next key resistance is at $8.00, while supports are seen near $7.50 and $7.25.
Looking at the total cryptocurrency market cap hourly , there was a crucial rejection noted near the $110.00B resistance, resulting in a sharp decline. The market cap declined below the $108.00B support and a bullish trend line on the same chart. It tested the $106.50B level and it seems like there are chances of more losses towards the $105.00B or $102.00B levels in the coming sessions. Hence, there are chances of more losses in ₿itcoin, ETH, tron, litecoin, EOS, ripple, stellar, litecoin and other altcoins in the near term.
Published at Wed, 06 Feb 2019 06:00:40 +0000
