Right after the cryptonews showed that Bitcoin, Ether and XRP are gaining a nice momentum, the total cryptocurrency market retraced below $250 million in a move that now shows a lot of bearish signs below its resistance area. The biggest losers affecting for the total market cap decrease today are XRP, ADA, EOS and BSV.
We can also see that the Bitcoin price is struggling to climb above the $9,400 resistance area for a third day in a row. Meanwhile, BTC is bearish and is probably the leader of crypto which is expected to take a swing soon and rise.
In the Bitcoin Cash news today, we can see that there was a decent rise in the BCH price above the $285 resistance area days ago, but the bears showed that they are here and have put up a fight. This resulted in a total market cap decrease for both BCH and the crypto market overall. If there is an upside break, we could see BCH trading above $300 but at press time, this is a very difficult prediction. Conversely, a break below the $280 support area is also on the table.
Bitcoin SV (BSV) is one of the losers today, dropping by more than 3%. Despite the BSV price breaking the $135 resistance area and consolidating below the $140 resistance, the price could test the $150 level.
Binance Coin (BNB) has been trading in a range above the $20 and $20.20 support levels. As we can see, the BNB price is currently facing a lot of hurdles near the $21.00 and $21.20 above which it could rise towards the $22.00 zone. On the downside, the main support is near the $20.00 and $20.20 areas.
When looking at the total market cap and the 4-hours chart, there are a lot of bearish signs emerging below the $249 billion mark and the upper $250 billion resistance level. It seems like the market cap is losing momentum and recently broke a bullish trend line near the $244 billion support zone.
A chances of a bearish wave for Bitcoin, Ethereum, ADA, XRP, XLM, BNB, ICX, BCH and EOS are expected in the coming sessions. Conversely, there are also hurdles for the bulls near the $249.5 billion and $250 billion levels. A clear break above $250 billion is the most obvious need right now for more gains.
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