Analysis Technical

Crypto Market Update: EOS, Bitcoin Cash, Tron (TRX), ADA Price Analysis

Aayush Jindal | December 17, 2018 | 6:00 am
technical analysis altcoins
Analysis

Crypto Market Update: EOS, Bitcoin Cash, Tron (TRX), ADA Price Analysis

Aayush Jindal | December 17, 2018 | 6:00 am

Key Points

  • The total crypto market cap declined below the $100.00B support before buyers appeared near $96.5B.
  • EOS price is currently consolidating below the $2.00 resistance area.
  • Bitcoin cash price is trading above the $80.00 support with a tiny bullish angle.
  • Tron (TRX) is still above the $0.0130 support level.
  • Cardano (ADA) price seems to be preparing for an upside break above $0.0300.

The total crypto market cap declined further below $100.00B before recovering slightly. Bitcoin, Ethereum and altcoins like EOS, Tron (TRX) and Cardano (ADA) remains at a risk of more losses.

Bitcoin Cash Price Analysis

Bitcoin cash price struggled a lot this past week after there was a close below the $100 support. BCH/USD declined heavily and broke the $90 and $85 support levels. The price traded close to the $80 support level and it is currently consolidating losses.

On the upside, the price must break the $85 resistance to start a decent recovery towards the $90 and $95 resistance levels. On the downside, a break below $82 and $80 could trigger heavy declines.

EOS, Tron (TRX) and ADA Price Analysis

EOS price recovered slowly and steadily this past week above the $1.80 resistance. However, the price struggled to gain strength above the $2.00 resistance and it is currently consolidating. A daily close above $2.00 is needed for buyers to gain momentum in the coming days.

Tron price remained confined in a range above the $0.0130 support. It seems like TRX price is preparing for a solid move either above $0.0135 or below the $0.0130 support in the near term.

Cardano price settled below the $0.0300 support this past week, with a bearish angle. However, ADA price is finding solid bids near $0.0290 and it seems like it could jump back above $0.0300 and $0.0310.

Crypto Market Cap Total Bitcoin ETH XRP EOS

Looking at the total cryptocurrency market cap hourly chart, there were further declines below the $102.00B and $100.00B supports. The market cap even broke the $98.00B level and traded towards the $96.50B level. Later, buyers appeared and pushed the cap above the $100.00B level. However, there is a strong bearish trend line with current resistance at $101.00B, which could continue to protect more gains in Bitcoin, Ethereum, litecoin, ripple, and other altcoins in the near term.

Tags: , , , , ,    

NewsBTC is a news service that covers bitcoin news, technical analysis & forecasts for bitcoin and other altcoins. Here at NewsBTC, we are dedicated to enlightening people all around the world about bitcoin and other cryptocurrencies. We cover news related to bitcoin exchanges, bitcoin mining and price forecasts for various virtual currencies.

Casinos

Choose from the top online casinos
in UK and enjoy the fun!

Read More  ›

We use cookies to give you the best online experience. By agreeing you accept the use of cookies in accordance with our cookie policy.