Monday, January 20, 2020

Bitcoin And Crypto Market Cap Eye Next Break: BCH, XLM, EOS, TRX Analysis

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  • The total crypto market cap is currently consolidating in a range above the $232.0B support area.
  • Bitcoin price is holding the $9,200 support area, but it is also facing hurdles near $9,400.
  • BCH price is currently correcting lower after it failed to break the $300 resistance.
  • EOS price is consolidating near $3.500 and it could correct lower towards $3.400.
  • Stellar (XLM) price is climbing higher once again and it might test the $0.0800 resistance.
  • Tron (TRX) price is facing a strong resistance near the $0.0200 zone.

Bitcoin (BTC) and the crypto market cap are approaching the next key break. Ethereum (ETH), BCH, stellar (XLM), ADA, EOS, ripple, and tron (TRX) are correcting lower.

Bitcoin Cash Price Analysis

Recently, BCH price climbed higher above the $295 level against the US Dollar. The price tested the $305 resistance area, where it faced a strong selling interest. As a result, the price started a downside correction below the $300 and $295 level.

On the downside, the key support is near the $285 and $280 levels. If there are more downsides, the price could test the $265 support area.

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

EOS price struggled near the $3.700 resistance area. As a result, there was a downside correction below the $3.650 level. The price is currently consolidating near $3.500 and it seems like it could correct lower further towards the $3.400 support area. On the upside, the main hurdles are near the $3.650 and $3.700 levels.

Stellar price corrected gains after a sharp rally towards the $0.0880 resistance area. XLM price declined and tested the $0.0700 support area. It is once again moving higher towards the $0.0800 resistance. If there are more upsides, the price may perhaps test the $0.0820 level.

Tron price struggled to stay above the $0.0200 support area and recently corrected lower. TRX price tested the $0.0195 support and it is currently consolidating in a tiny range. If there is an upside break above $0.0200, the price is likely to resume its upward move.

Crypto Market Cap

Looking at the total cryptocurrency market cap 4-hours chart, the $250.0B resistance zone acted as a crucial barrier for more upsides. As a result, the market cap declined and it is now consolidating in a range above the $232.0B support area. If there is a downside break, the market cap could retest the $215.0B support.

Conversely, an upside break above the $250.0B resistance is likely to spark a strong rise 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 Cap Eye Next Break: BCH, XLM, EOS, TRX Analysis appeared first on NewsBTC.

Analysis: Bitcoin And Crypto Market Cap Eye Next Break: BCH, XLM, EOS, TRX Analysis published by NewsBTC

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