The market struggle continues today, initiated by Bitcoin’s constant up-and-down moments which make the total crypto market cap face a strong resistance near the $218 billion and $220 billion levels.
As we can see in the altcoin news today, the Litecoin (LTC) price is still trading well below the main $60 resistance area, while the Bitcoin Cash (BCH) price is correcting gains and could test the $220 support line.
Stellar (XLM) is above the $0.06 support area, and the EOS coin news indicate that the cryptocurrency recently failed to surpass the $3.250 resistance and is right now declining towards $3.050.
In our Bitcoin Cash news, it is noticeable that the BCH price faces resistance as we speak and is somewhere near the $235 and $240 levels in that manner.
The BCH/USD pair is correcting lower towards the $225 level now and it seems like the price could also test the $220 support area in the near term. The struggle continues as the main supports on the downside are near the $205 level. On the upside, it is evident that a clear break above $240 is needed for more gains towards the $250 and $265 levels.
On the other hand, the Litecoin news now show that LTC recovered above the $55 level and struggled to gain momentum above $58.50, remaining well below the key $60 resistance area. The price is currently correcting lower and may soon test the $55 support area.
EOS is part of the weak coins as the struggle continues. After it climbed higher recently and tested the .
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25 resistance area, the sellers appeared and brought the coin back to the $3.20 level. If there are more downsides soon, the price could test the $3.05 support area in the near term.
Stellar (XLM) meanwhile climbed higher positively above the $0.0620 level. The Stellar Lumens news are actually the only bright side right now and it seems like the price could test higher levels soon.
When looking at the total cryptocurrency market cap in the daily and weekly charts, we can see that the struggle continues. The total crypto market cap is facing strong resistance near the $218 and $220 billion levels – and the 100 SMA is also acting as crucial resistance point. A clear break above the $220 billion resistance and close above the 100 SMA is right now needed for an upside acceleration in the short term.
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