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Cryptomarket Ailing with No Recovery Signs – Insight into Price Analysis

Cryptomarket  Ailing with No Recovery Signs -  Insight into Price Analysis

  • Struggling to break the $220.0B level,the entire insudustry seems to be in a bearish zone.
  • The situation was severe when $250 support area was also broken hitting $235. For now , it is struggling to break $ 255 resistance level.
  • The crypto market has sunk an inch down and more down slides are possible unless the cryptomarket cap manages to escalate above above $230.0B level.

The entire cryptomarket seems to be trapped in a constant ‘moving down’ trend in a free fall with less signs of rapid recovery . Struggling to break the $220.0B level,the entire insudustry seems to be in a bearish zone.

BITCOIN
The recent couple of weeks had not been very friendly with BTC where it has gradually moved down and presently flowing above
$ 8000 as the base. With the accelerated downfall trend the risk of further decline below the support level remains.

BITCOIN CASH PRICE ANALYSIS
The recent couple of days witnessed a striking downfall in the BCH below $ 265 support level. The situation was severe when $250 support area was also broken hitting $235. For now , it is struggling to break $ 255 resistance level.

EOS
EOS price had been fluctuating with a net downward motion. The recent days witnessed EOS breaking many key supportive regions in the zone of $3.500 and $3.350. For now it is flowing in the bearish zone moving towards $3.050 and $ 3.000 support levels. Any further fall below $3000 barrier will strike the price towards $ 2.850 level.

STELLAR ( XLM)
Steller was making a good fortune these days where it had escalated to $0.0700 level ,but it again moved down to $0.0168. Similarly XLM too had broken $0.0650 level and is further expected to decline below it’s support region of $0.0620. On the upper end $0.0665 is expected to be the barrier.

TRON (TRX)
For TRX, breaking the 0.0185 support area was followed by an increase in the selling pressure. Presently it is trading in $0.0165 zone with the downfall rate of 4%. If the trend continues, the price will approach $0.0152 level.

Analysts claim about frequent bearish signs below the $220.0B and $230.0B levels with $210.0B being the main support level on the lower side. Any further decline will invite a drastic fall to $200.0B level.
With some exceptions like Ethereum , the crypto market has sunk an inch down and more down slides are possible unless the cryptomarket cap manages to escalate above above $230.0B level.

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Steve Anderrson
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain. Join the official channel of thecoinrepublic, For the latest news updates: https://t.me/thecoinrepublic

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