Analyst: In the short term, the rising space of cryptocurrencies such as BTC, ETH and BNB may be limited.

Analyst: In the short term, the rising space of cryptocurrencies such as BTC, ETH and BNB may be limited.

Analyst Aayush Jindal said today (July 17) that "short-term cryptocurrencies such as BTC, ETH, BNB, LTC, BCH, EOS and XLM may be limited."

At the same time, the analyst analyzed the recent market performance of BCH, BNB, LTC and TRX.

He pointed out that yesterday BCH tested the resistance level of 320 US dollars, but ultimately failed to maintain a high trend. At present, the price of the token has fallen by nearly 10%, hovering around $285. If BCH shows a further downtrend, it may test the $270 support level in the near future.

After failing to hold the $28 support level, BNB began to fall sharply, and its price once fell below the $25 support level. Analysts said BNB's next major support is near $24.10, and once it is below that level, it will test $23.80.

LTC prices have steadily declined and have fallen below the support of $90, $85, and $80. At present, although the price of the token has rebounded, the upward momentum is insufficient, and it is still hovering around $80,82.

TRX has recently fallen below the $0.022 support level and its price may soon test the main support level around $0.0200.

As of press time, BTC quoted $9510, down 11.61% in 24 hours; BCH quoted $287, down 7.18% in 24 hours; BNB quoted $25, down 8.81% in 24 hours; LTC offered $79, down 10.81% in 24 hours; TRX quoted 0.021 The dollar fell 13.43% in 24 hours.

We will continue to update Blocking; if you have any questions or suggestions, please contact us!

Share:

Was this article helpful?

93 out of 132 found this helpful

Discover more

Market

Bitcoin halved: everything you need to know

The number of bitcoins created every 10 minutes is reduced by half every four years. This is called halving bitcoin. ...

Blockchain

QKL123 Research Report | Bears come to the cattle - Bitcoin opens a new cycle

The sun and the moon alternate and the four seasons reincarnation. Bitcoin has experienced many bulls and bears, but ...

Blockchain

Fed Chairman Powell: Bitcoin is likely to replace the US dollar as the world's reserve currency, and the current regulatory system is powerless to Libra.

On Thursday, Federal Reserve Chairman Powell reiterated concerns about Facebook's cryptocurrency Libra at a Sena...

Blockchain

Cryptocurrency's largest institutional asset manager Grayscale: ETH and ETC are second only to Bitcoin

Grayscale is the largest institutional asset manager in the cryptocurrency space and currently holds approximately 27...

Blockchain

Love to spray bitcoin and quietly hold the currency, this gold lover is a little fan

When it comes to the attitude towards Bitcoin, there are two very different perspectives. Some people obviously hate ...

Blockchain

Could this report be the culprit behind the overnight plunge in the crypto market?

Source: Shallot Blockchain At around 2:30 in the morning, Bitcoin dropped sharply, falling by nearly 3.5% in less tha...