The one thing is sure in the cryptocurrency market that the values of the currencies are extremely volatile and situations of the market are uncertain. Today, the cryptocurrency has experienced a correction downward in the top coins such as Bitcoin (BTC) and Ethereum (ETH) and altcoins also experienced the bearish correction in the coins such as Bitcoin Cash (BCH), Binance coin (BNB), EOS (EOS) and Tron (TRON).
The total market capitalization of the cryptocurrency has decreased by $30 billion and reached up to $230 billion from its 2019’s high value of $264 billion. The world’s giant cryptocurrency Bitcoin also experiences a decrease in its value and reached up to $7,300 USD. BTC’s value is decreased by -8.20%. Ethereum (ETH) has also lost around -6.77%.
Bitcoin Cash (BCH) price analysis: Currently, the Bitcoin Cash value is showing bearish movement and it is trading at the value of $362.31 USD. It is experiencing the loss of -10.77% in the cryptocurrency market, with the market capitalization of $6,444,326,454 USD and the 24-hour volume of $3,914,733,243 USD. The Circulating supply of the BCH is 17,786,675 BCH and max supply of the 21,000,000 BCH.
Earlier this week, the coin is trading around the resistance levels of $400 and $420 against the US dollar. The value of the BCH has even crossed the resistance level of $440 and examined near the next main resistance level of $450. Currently, the value of the BCH begun to decrease and smashed the support levels near $420 and $400.
Binance Coin (BNB) price analysis: Binance coin has also experienced the bearish correction in the market and its value is decreased by -2.40%. Presently, the coil is trading at the value of $25.62 USD, with the market capitalization of $3,617,415,984 USD and the 24-hour volume of the coin is $343,862,600 USD. The circulating supply of the coin is 141,176,490 BNB and the total supply of the coin is 189,175,490 BNB.
The coin has broken the support level of $25 and $24 USD and the experts think that it could even fall breaking the support level of $23.80 and $23.50.
EOS and TRX Value Analysis: Currently, the EOS is trading at the value of $6.00 USD and it is experiencing the loss of -7.51%. The market cap of the coin is $5,472,148,256 USD and the 24-hour volume of $3,951,614,141 USD. The circulating supply of the coin is 911,957,261 EOS and the total supply of the coin is1,011,957,265 EOS. The value of the EOS has smashed the support levels of $6.50 and $6.40 USD. The bearish pressure on the coin increased and the coin has even broken the support level of $6.20 USD.
Tron’s value presently is decreased by -11.56% and it is trading at the value of $0.026294 USD. The market capitalization of the TRON $1,753,342,859 USD and the 24-hour of the coin is $952,277,423 USD. The circulating supply of the currency is 66,682,072,191 TRX and the total supply of the currency is 99,281,283,754 TRX. The TRX value is decreased by breaking its main support level of $0.0300 USD. If it goes further down the support level of the coin will be around the value of $0.0250.
The 4-hour time frame of the cryptocurrency market displays that there was an upside surge above the price of $225 billion resistance level. The market cap of the market even increased above the level of $250 billion and then the value started to decrease. It decreased by $30 and even got tested at the $210 billion support level. The bearish trend also declines the bullish trend near the value of $235 billion, but it presently keeping the bullish trend alive with the support level of $216 billion. The value of the currencies could increase if the support levels is remains near $210 and $200 billion.