Analysis Technical

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

Aayush Jindal | December 24, 2018 | 6:00 am
technical analysis altcoins
Analysis

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

Aayush Jindal | December 24, 2018 | 6:00 am

Key Points

  • The total crypto market cap climbed further higher and broke the $140.00B level.
  • EOS price rallied and tested the $3.00 resistance area.
  • Bitcoin cash price settled above the $200 barrier and it is currently consolidating gains.
  • Tron (TRX) broke the key $0.0180 and $0.0200 resistance levels.
  • Cardano (ADA) price gained 10% and traded close to the $0.0500 resistance level.

The total crypto market cap extended gains above $140.00B. Bitcoin, Ethereum and altcoins like EOS, Tron (TRX), bitcoin cash and Cardano (ADA) are trading with a positive bias.

Bitcoin Cash Price Analysis

Bitcoin cash price was one of the best performers this past week as it broke the $180 and $200 resistance levels. BCH/USD even spiked above the $220 resistance and later corrected lower. It is currently trading nicely above the $200 support, with a bullish angle.

If there is a downside correction below the $200 support, the price may test the $180 support. On the upside, there is a decent resistance formed near $220, above which the price could test $140.

EOS, Tron (TRX) and ADA Price Analysis

EOS price started a solid upward move and broke the $2.50 and $2.80 resistance levels. The price tested the $3.00 resistance and it looks set for more gains above the $3.05 and $3.10 levels.

Tron price started a solid upward move after forming a support base above $0.0150. It broke the key $0.0180 and $0.0200 resistance levels, with chances of more gains above the $0.0220 level.

Cardano price surged above the $0.0350 and $0.0400 resistance levels. ADA price even broke the $0.0470 resistance recently and it seems like there could be more upsides towards the $0.0500 level.

Crypto Market Cap Total BTC ETH EOS ADA TRX

Looking at the total cryptocurrency market cap hourly chart, there was a solid upward move above the $125.00B resistance level. The market can cleared the $135.00B and $140.00B resistance levels and it is currently consolidating near $140.00B. In the short term, there could be a downside correction, but BTC, ETH, litecoin, ripple, EOS, ADA, NEO, and other altcoins remain well supported for an upside ext

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