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Cryptocurrency Market Update: BCH, BNB, EOS, and TRX Price Analysis

The cryptocurrencies in the crypto market have been suffering the bearish correction in the values. The total cryptocurrency market capitalization is also holding the value near its support level of $210.0 billion and trading at the value of $226 billion. The 24-hour volume of the market is $52 billion.

The number one currency of the crypto market, Bitcoin is currently under the bearish pressure and trading at the value of $8,344.51, its value is decreasing by 0.28%. The market capitalization of the currency is $150,130,206,153 and the 24-hour volume of the bitcoin is $15,080,545,983. The currency has been through immense bearish pressure and now the support level of $8,000 is trying to defend the currency from further decreasing.

On the other hand, cryptocurrencies like Ethereum, Ripple, Bitcoin, Litecoin, EOS, XLM, BNB, USDT currencies in the top 10 currencies experiencing the increase in their values. Only BSV and BTC are under bearish pressure. The 11th position cryptocurrency TRX is also experiencing the bullish movement in the price.


Bitcoin Cash (BCH) Analysis: Bitcoin Cash is trading at the value of $227.05 and its value is decreasing by 0.05%. The currency’s market capitalization is $4,099,740,468 and the 24-hour volume of the currency is $1,220,312,403. The currency previously was trading above the support level of $215 and it has also crossed the support level of $225. For the bullish movements in the price, the currency has to break the resistance levels of $235 and $240 in the near period.

If the currency fails to break the resistance levels, then the bearish pressure will lead the price again towards the support level of $215 and further downside towards the support level of $205 and pivot level of $200.

EOS Analysis: EOS is trading at the value of $3.15 and its value is increasing by 1.23%. The market capitalization of the currency is $2,947,363,628 and the 24-hour volume of the currency is $1,408,128,465. The currency has crossed the support levels of $3.050 and $3.000. The experts think that the currency will soon be able to cross the resistance levels of $3.200 and $3.250, but EOS price has to cross the resistance level of $3.300 to initiate the bullish movement.

Binance Analysis: Binance Coin is trading at the value of $18.26 and its value is increasing by 2.72%. The market capitalization of the currency is $2,839,762,886 and the 24-hour volume of the currency is $286,106,480. The currency is doing well from the previous two days and it also broke the resistance levels of $7.50 and it with the bullish movement the currency can break the resistance of $18.00. The currency has immediate resistance level close to the value of $18.50 and if the bulls take the value further then the currency could even examine the resistance levels of $18.75 and $18.80.

TRON Analysis: The value of the TRON is currently trading at $0.016566 and its value is increasing by 2.23%. The market capitalization of the currency is $1,104,666,132 and the 24-hour volume of the currency is $654,932,319. The currency is doing well in the market and it also broke the resistance level of $0.0160. The currency is currently trading above the resistance level of $0.0165 and it could further move to the resistance of $0.01675 and $0.0170.

The 4-hour chart of the cryptocurrency market is showing the market capitalization of the total market is moving towards the value of $230 billion, as the currency has crossed the level of $225 billion. However, if the bears take over the market then it could again reach up to the support value of $220 billion. On the other hand, the bulls defend the market cap well, then currencies like Bitcoin, Ethereum, Ripple, TRON, Litecoin, EOS, Cardano, Stellar Lumens, Bitcoin Cash, and Binance Coin will experience the new heights in the prices.

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About Arushi Dubey

Arushi Dubey is a student of Bachelor in Arts( Psychology). She is pursuing Psychology in arts with English literature and French Language. She is well versed in the English language. She is good at expressing her thoughts into words. She is still getting more and more trained in gathering knowledge related to Crypto Currencies and expressing them.

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