The total crypto market cap declined heavily and broke the $115.00B support level.
Bitcoin cash extended losses and traded below the $130 support level.
Tron (TRX) started a downside move and traded below the $0.0250 support level.
Cardano (ADA) is moving lower and it may soon test the $0.0400 support zone.
IOTA (MIOTA) is down more than 7% and it recently broke the $0.3000 support.

The crypto market is under a lot of selling pressure, dragging bitcoin ( BTC ) and Ethereum below key supports. Moreover, ripple, Litecoin (LTC), Tron (TRX), IOTA and Cardano (ADA) also fell significantly.
Bitcoin Cash Price Analysis
Bitcoin cash price started a major downside move from well above the $160 support. BCH/USD broke the $150 and $140 support to enter a bearish zone. Recently, sellers pushed the price below the $130 support and pushed it towards the $120 support.
The price is currently consolidating losses near $125, with an immediate resistance at $130. The main hurdle is near $135 and $140 levels, above which the price could test $150. On the downside, below $120, the price may test $100.
Tron (TRX), ADA and IOTA Price Analysis
Tron price remained a strong upward move this past week, but the recent decline in BTC and ETH dragged it lower. TRX price recently declined below the $0.0280 and $0.0250 support levels. The next key support is at $0.0220 where buyers may emerge.
Cardano price retreated from the $0.0500 resistance and declined below $0.0450. ADA is now approaching the $0.0400 support, which is likely to produce a short term bounce.
IOTA (MIOTA) came under a lot of pressure and it recently declined below the $0.3200 and $0.3000 support levels. The price is down around 7% and it seems like sellers may push it towards the $0.2800 support.

Looking at the total cryptocurrency market cap hourly chart , there was a sharp bearish turn from well above the $135.00B level. The market cap broke the $130.00B and $120.00B support levels to enter a bearish zone. It recently broke the $115.00B support and tested the $112.30B level. If there is an upside correction, the previous supports at $118.00B and $120.00B may act as hurdles for buyers. Therefore, upsides in bitcoin, Ethereum, EOS, ripple , litecoin, BCH, ICX, EOS, XLM, and other altcoins are likely to remain capped.
The post Crypto Market Update: Bitcoin Cash, Tron (TRX), ADA, IOTA Price Analysis appeared first on NewsBTC .

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