Bitcoin Cash Down-side Trend as Ethereum Poised for a Rally

Images by PIX1861 and vjkombajn from Pixabay

The Crypto Market Cap made a sharp decline past the 125.00 Billion support level. Currently, gains would be harder to come by as the currencies face a strong resistance level above the $125 billion mark it just passed. With the market under pressure, it could see it fall towards the $122 billion

The Bitcoin is currently held ip by the $4,000 support level. In the past few months, investors saw $20% growth of the currency. It was punctuated by a dump that threatened continuous growth. However, the technical analysis is showing a trend that could lead to new highs.

The Bitcoin Cash’s Downside Risk

The Bitcoin Cash was swatted back down after hitting a resistance at $135.00. This resistance level pushed the currency down to a bearish angle to move below $132 and $130. If losses continue it could move it past the next support level at $122. If it continues to go down, The risk of a downward turn will be worrying.

Currently, the Bitcoin Cash is looking at resistance level at $135. If it could move past that level, it could fuel a breakthrough and a bullish push. At the moment, the general feel for the bitcoin is at a bearish outlook as long as it hovers around $132.00

EOS Give Back Gains

The EOS saw it’s price fall drastically as it raced below the 3.80 and 3.65 levels of support. This comes after gaining a few dollars to rise significantly above $4.00. It faces significant pressure from sellers and it could be moved below support levels at the $3.35 mark.

Ethereum on Poise to for a Rally

Experts are seeing potential  for a sustained rally as Ethereum jumped from 3rd in Market Cap to 2nd with $14.2 Billion market capitalization. In the last few weeks, we saw the jump from a price of $100.70 to a high of $166.40. Currently it is hovering around $134.40 with a gain 3.26% for the year.

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