Bitcoin Cash Price Analysis
Recently, bitcoin cash price consolidated near the $310 level for a few hours against the US Dollar. The BCH/USD pair failed to gain strength above $320, resulting in a bearish reaction. The price broke the $300 support and declined more than 4% today.
It is currently trading near the $295 support and the next key support is at $290. On the upside, the previous supports at $300 and $305 may now act as key resistance levels.
Binance Coin (BNB), EOS, Tron (TRX) Price Analysis
EOS price made an attempt to gain strength above the $5.60 resistance level, but it failed. As a result, the price started a downside correction and broke the $5.50 support level. The price even broke the $5.45 level and it may now test the next key support at $5.40. On the upside, the main resistances are near $5.55 and $5.60.
Tron price failed to stay above the $0.0272 and $0.0270 support levels and declined recently. TRX price broke the $0.0268 level and recently tested the $0.0265 support. If there are more losses, the price may revisit the $0.0260 support area.
Binance coin (BNB) was the best performer in the top 10 as it rallied close to 10%. BNB price surged above the $20.00 and $21.00 resistance levels to set a new 2019 high. It even spiked above the $22.00 resistance level and corrected lower towards the $21.50 support. On the downside, the next key supports are near the $21.20 and $21.00 levels.
Looking at the total cryptocurrency market cap hourly chart, there was a downside reaction from the $173.0B level. The market cap declined below $170.0B and tested the key $168.0B support and the 100 SMA. There is also a major bullish trend line in place with support near the $168.0B level. A break below the trend line could open the doors for more losses. Conversely, as long as the trend line is intact, there could be a strong comeback in bitcoin, ether, TRX, LTC, EOS, ripple, ADA, XLM, WAN, BCH, XMR and other altcoins in the coming sessions.
