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Crypto Market And Bitcoin Struggle Continues: BCH, Litecoin, EOS, XLM Analysis

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Crypto Market And Bitcoin Struggle Continues: BCH, Litecoin, EOS, XLM Analysis

The total crypto market cap is facing a strong resistance near the $218.0B and $220.0B levels.Bitcoin price failed to gain momentum above $8,300 and recently declined below $8,200.Litecoin (LTC) price is still trading well below the main $60.00 resistance area.Bitcoin cash price is currently correcting gains and it could test the $220.00 support.EOS price failed to surpass the $3.250 resistance and is currently declining towards $3.050.Stellar (XLM) price is currently consolidating gains above the $0.0600 support area.Bitcoin (BTC) and the crypto market cap are struggling to gain bullish momentum. Looking at the total cryptocurrency market cap 4-hours chart, there was a decent upward move above $210.0B. However, the market cap faced a strong resistance near the $218.0B and $220.0B levels. Moreover, the 100 SMA also acted as a crucial resistance. The market cap is currently correcting lower and it could test the $205.0B support area. The main support on the downside is near the $200.0B level, below which there could be a sharp decline in bitcoin, Ethereum, EOS, litecoin, ripple, XLM, BCH, ADA, BNB, TRX, ICX, and other altcoins. Conversely, a clear break above the $220.0B resistance and close above the 100 SMA is needed for an upside acceleration in the near term.

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Author: Aayush Jindal

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