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Crypto Market Could Dive To $200B, Bitcoin Turns Red: BCH, XLM, EOS, TRX Analysis

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Crypto Market Could Dive To $200B, Bitcoin Turns Red: BCH, XLM, EOS, TRX Analysis

The total crypto market cap is currently in a bearish zone below the $220.0B resistance.Bitcoin price is trading above the $8,000 support and remains at a risk of more losses.BCH price is now consolidating losses below the $250 resistance area.EOS price is declining and approaching the $3.050 and $3.000 support levels.Stellar (XLM) price is down more than 2% and it is now below the $0.0650 support.Tron (TRX) price is down close to 4% and it is trading near the $0.0165 support.Bitcoin (BTC) and the crypto market cap are currently in a heavy downtrend. Crypto Market CapLooking at the total cryptocurrency market cap 4-hours chart, there are many bearish signs visible below the $220.0B and $230.0B resistance levels. On the downside, the main support is near the $210.0B level, below which there is a risk of a drop towards the $200.0B support area. Therefore, there are chances of more downsides in bitcoin, Ethereum, EOS, ripple, litecoin, bitcoin cash, XLM, TRX, BNB, WAN, WTC, ICX, and other altcoins in the near term unless the crypto market cap climbs back above $230.0B.

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Author: Aayush Jindal

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