The total crypto market cap is currently correcting higher from the $170.0B support area. Bitcoin price is up around $250 and it is now trading near the $7,000 resistance area. EOS price jumped from the $2.350 support area and climbed above $2.500. Ethereum price is showing positive signs above the $142 level. BCH price bounced back and it is now trading above the $200 pivot level. Tron (TRX) price is back above $0.0140 and it could soon revisit the $0.0144 resistance area.

Bitcoin (BTC) and the crypto market cap are currently correcting higher. Ethereum, ripple, BNB, BCH, litecoin and EOS are recovering, but facing many resistances.

After a downside break below the $7,000 support, bitcoin price traded close to the main $6,500 support area (as per the medium term outlook). The bulls took a strong stand and the price recently started an upside correction.

BTC price is now trading above the $6,800 level and testing the $7,000 resistance area. If there are more gains, the price is likely to test the $7,120, $7,150 and $7,200 levels in the near term.

On the downside, an initial support is near the $6,880 level, below which the price is likely to retest the main $6,500-$6,600 support area in the near term. Any further losses may perhaps push the price towards the $6,400 level.

Looking at Ethereum, the price is now trading back above the $140.00 and $142.00 levels. However, ETH is facing a lot of resistance on the upside near the $146, $148 and $150 levels. On the downside, the main supports are near the $136 and $135 levels.

Similarly, ripple price is facing a lot of hurdles on the upside near the $0.2200 and $0.2220 levels. However, there are many positive signs emerging from the $0.2000 support area.

Looking at the total cryptocurrency market cap 4-hours chart, there was a steady decline below the $220.0B and $200.0B support levels. The crypto market cap even broke the $185.0B support and tested the $170.0B zone.

Crypto Market Cap

A low was formed near the $171.4B level and the market cap is currently correcting higher. It broke the $180.0B resistance to start the recovery. It is now trading near the $185.0B resistance area and a bearish trend line on the same chart. The main hurdles are near $190.0B, $194.0B and $200.0B.

Therefore, a clear break above the $194.00 and $200.0B levels is needed for more upsides in bitcoin, Ethereum, TRX, LTC, EOS, ripple, ADA, XLM, WTC, BCH, and IOTA in the near term.

The post Crypto Market Recovers $15 Billion, Bitcoin Flirting With $7K appeared first on NewsBTC.

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