Bitcoin Price Analysis Reflects Possible Lower Correction Of Bitcoin And Crypto Market: ADA, BNB, BCH, BSV

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Bitcoin News Today – Currently, Bitcoin is witnessing a bearish trend. The price of the king of cryptocurrencies declined below $11,500. It has tested the support level at $11,200. Bitcoin Price Analysis shows that the price of the crypto asset is likely to slide sharply if a break occurs below the $11,200 support zone.

Bitcoin Price Prediction – Bitcoin Latest Update – Bitcoin Price Analysis: Bitcoin is Trading in the Bearish Zone

The bitcoin price rose to around $12,325 against the dollar in the previous week. Unfortunately, the crypto asset started a strong downward movement and traded below the support level of $11,500. Bitcoin may lose more as its price forms a swing low at $11,096 after hitting the $11,200 support zone. Currently, BCH and BNB are rising while bitcoin and the crypto market cap are correcting gains. Besides, Cardano (ADA), Ethereum, Ripple, EOS, and BSV are likely to correct further downwards.

Bitcoin (BTC) Price Today – BTC / USD

#NamePrice24H %
1
bitcoin
Bitcoin(BTC)
$7,470.92
-7.12%

The cryptocurrency market cap 4-hours chart shows that the total crypto market cap initiated a downward correction from $315.0B. The market cap dipped below the $300.0B and even the $295.0B pivot level. Currently, it is moving upwards after testing the support level at $280.0B. However, Crypto Market Cap Analysis reveals a major declining channel with resistance around $295.0B level forming.

Bitcoin Price Prediction suggests an upside break above $295.0B and $300.0B to prevent further downsides of Bitcoin and other cryptocurrencies in the coming sessions. Consequently, Ethereum, Ripple, ADA, Tron, BNB, BCH, EOS, XLM, ICX, and other altcoins may plunge further if the total market cap fails to rise.

Cryptocurrency Price Prediction – Cryptocurrency Price Analysis – Bitcoin News Update- BNB and BCH Price Analysis

Binance coin (BNB) maintained a good uptrend after it broke the $28.50 key resistance area. Currently, the token is consolidating gains after its price settled above $30.00 support level. A break on the downside below $30.00 is likely to trigger a bearish trend. However, there are important resistance levels on the upside at $31.00 and $31.20.

Bitcoin Cash Price Analysis shows a new increase of the BCH/USD above the $320 level after testing the support at $310. The pair is currently about 6% up after breaking resistance at $330. BCH is likely to make a sharp rise towards $350 level if it breaks above the immediate resistance near the $340 level.

The $330 level may now serve as a support on the downside. However, below the main support near the $320 level, the Bitcoin Cash price may fall back towards the $300 level.

Cryptocurrency Latest Update – Bitcoin News Today- ADA and BSV Price Analysis

Cardano (ADA) is witnessing a lot of hurdles near the $0.0600 resistance on the upside. The crypto asset has a bearish trend as it trades below the key $0.600 pivot level. Currently, the token price is near the $0.0540 level and has immediate support at $0.0520. The main resistances on the upside are near $0.0580 and $0.0600.

On the other hand, Bitcoin SV shows positive signs as it trades above the $140 support area. However, the token recorded limited losses below the $140 in the past few days. It seems like the BSV price is getting ready for an upside break as the $140 level serves as strong support for the token. The price is likely to rise towards the $165 level if a clear break occurs above the $150 resistance.

Max writes about blockchain projects and regulation with a special focus on United States and China. He joined Smarterum after years of writing for various media outlets.

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