The Crypto Market has suffered a downturn in the last 24 hours with the market below the $200 billion mark. As at the time of writing the majority of the market is in the red zone with the top 15 coins all trading negative.
One of the phenomena within this period was the drastic price fall of Matic token which lost as much as 73% of its value as reported by Newslogical today.
This alongside the failure of leading coin Bitcoin to surpass its resistance point of $7500 has seen the market lose steam in the last 24 hours. The total market cap is $198.3 billion with Bitcoin’s dominance dropping to 66.52% according to stats from Coinstats.
Keeping in track with our daily intraday trading analysis, we look at some of the major coins in the crypto market with Binance Coin (BNB), EOS (EOS), Tron (TRX) as our main focus for today.
Binance Coin Intraday Analysis
Binance Coin has not had the best of months with the coin currently ranked 8th on the coin ranking. Binance Coin faced an initial strong selling point close to the $15.80 and $16.00 resistance level. As a result, the coin has depreciated with the coin now trading below the $15.20 mark.
As at the time of writing Binance Coin is valued at $15.00 with the coin losing 4.24% against the USD in the last 24 hours. Looking at the current trend the next support levels for the coin is 14.90-$14.95 while an upside would see the resistance levels at around $15.20.
EOS Intraday Analysis
EOS price failed to surpass the $2.850 resistance area and it is currently declining. The price is down 3% and it is trading near the $2.600 support. Its price at the time of writing is $2.64 with a market cap of $2.7 billion to seventh on the coin rankings.
If there are more losses, the next major support is seen near the $2.500 level. On the upside, the $2.700 level is the likely resistance levels.
Tron Intraday Analysis
Tron price is under a lot of pressure and it is now trading well below $0.0145. As at the time of writing TRX is valued at $0.014265 with the coin losing 1.89% within the last 24 hours of trading.
An initial support is near the $0.0142 level. However, the main support for TRX price is near the $0.0140 level, below which there is a risk of an extended decline.