Bitcoin Crypto Market Cap Showing Bearish Signs: BCH, BSV, BNB, ADA Analysis
- The total crypto market cap is showing a few bearish signs below the $248.0B resistance area.
- Bitcoin price is struggling to climb above the $9,400 resistance area.
- BCH price is currently trading near the main $300 resistance zone.
- BSV price gained recently and it is now trading above the $130 and $135 levels.
- Binance Coin (BNB) is consolidating below the key $21.00 and $21.20 resistance levels.
- Cardano (ADA) price might struggle to clear the $0.0450 and $0.0465 resistances.
The crypto market cap and bitcoin are showing a few bearish signs. Ethereum, BCH, BSV, cardano (ADA), BSV, EOS, and ripple are currently correcting gains.
Bitcoin Cash Price Analysis
Recently, there was a decent rise in BCH price above the $285 resistance area against the US Dollar. The BCH/USD pair is now trading close to the main $300 resistance area, where the bears are putting up a fight. If there is an upside break, the price could continue to rise towards $320.
Conversely, there could be a downside correction below the $295 level. An immediate support is near the $285 level, followed by the key $280 support area.
Bitcoin SV, Binance Coin (BNB) and ADA Price Analysis
In the past few days, there was a decent rise in bitcoin SV above the $125 and $130 resistance levels. BSV price even broke the $135 resistance and it is currently consolidating below the $140 resistance. If there is an upside break above $140, the price could test the $150 level.
Binance coin (BNB) mostly traded in a range above the $20.00 and $20.20 support levels. BNB price is currently facing a lot of hurdles near the $21.00 and $21.20 levels, above which it could rise towards the $22.00 zone. On the downside, the main supports are near the $20.00 and $20.20 levels.
Cardano price surged towards the $0.0465 resistance area, where it failed. ADA price is currently correcting lower and is trading below the $0.0450 level. If there are more downsides, the next support is near the $0.0425 level. On the upside, the $0.0450 and $0.0465 levels are important resistances.
Looking at the total cryptocurrency market cap 4-hours chart, there are a few bearish signs emerging below the $248.0B and $250.0B resistance levels. It seems like the market cap is losing momentum and it recently broke a bullish trend line near the $244.B support. Therefore, there are chances of a bearish wave in bitcoin, Ethereum, ADA, ripple, tron, XLM, ADA, BNB, ICX, BCH, EOS, and other altcoins in the coming sessions.
Conversely, there are many hurdles for the bulls near the $248.0B and $250.0B levels. A clear break above $250.0B is needed for more gains.
Published at Thu, 07 Nov 2019 05:00:08 +0000