Price Analysis

Crypto Market Analysis: Most of the Crypto Market is Bleeding Red

The crypto market is bleeding red once again. The cryptos are facing the brunt of the market. The market capitalization decreases and is struggling to surpass the $200.0B resistance area. 

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Bitcoin Price Analysis: 

The most widely used cryptocurrency, Bitcoin has seen a respite last week with a minimum but steady growth. However, this week, the BTC price is again decreasing. As of writing, BTC is trading at $7,237.38 with a slight decrease of -0.80%. 

Ethereum Price Analysis:

Ethereum is the next crypto as per the market capitalization list. However, this crypto is also faring in a similar fashion as BTC. With 1.80% decrease, the ETH price is $146.14 against USD as of writing. The one-day chart of ETH shows ups and downs with a current downtrend.

TRON Price Analysis:

Tron price is currently consolidating above the key $0.0150 support area. On the upside, TRX price is facing resistance near the $0.0158 and $0.0160 levels. A successful close above the $0.0160 resistance is likely to lead the price towards the $0.0165 and $0.0167 levels.

Looking at the total cryptocurrency market cap 4-hours chart, there was a bearish reaction from the $208.0B resistance area. However, there are chances of another increase in bitcoin, Ethereum, TRX, LTC, EOS, ripple, etc in the near term.

Do you think that the crypto price will see a bull run in 2020? Let us know your comments on Facebook and Twitter pages.

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Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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