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

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. Ethereum (ETH), LTC, ripple , bitcoin cash, EOS, TRX, and stellar are currently correcting gains.
Bitcoin Cash Price Analysis
After a decent upward move, BCH price faced resistance near the $235 and $240 levels against the US Dollar. The BCH/USD pair is currently correcting lower towards the $225 level. It seems like the price could test the $220 support area in the near term.
The main supports on the downside are near the $205 level. On the upside, a clear break above $240 is needed for more gains towards the $250 and $265 levels.
Litecoin (LTC), EOS and Stellar (XLM) Price Analysis
Litecoin price recovered above the $55.00 and $56.50 resistance levels. However, LTC price struggled to gain momentum above $58.50 and remained well below the key $60.00 resistance area. The price is currently correcting lower and it may perhaps test the $55.00 support area.
EOS price climbed higher recently and tested the $3.250 resistance area, where sellers appeared. The price is currently correcting lower and is trading below the $3.200 level. If there are more downsides, the price could test the $3.050 support area in the near term.
Stellar price climbed higher positively above the $0.0620 level. However, XLM price failed to gain momentum above the $0.0630 level and recently started a downside correction. It seems like the price could test $0.0600 or $0.0595 before starting a fresh increase.

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.
The post Crypto Market And Bitcoin Struggle Continues: BCH, Litecoin, EOS, XLM Analysis appeared first on NewsBTC .

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