Analysis Technical

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

Aayush Jindal | January 10, 2019 | 6:00 am
technical analysis altcoins
Analysis

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

Aayush Jindal | January 10, 2019 | 6:00 am
  • The total crypto market cap is likely preparing for an upside break above the $135.00B level.
  • EOS price is gaining momentum and it could soon break the $3.00 resistance.
  • Bitcoin cash price is trading above the $160 support area, with an immediate resistance at $165.
  • Tron (TRX) price rallied close to 20% and broke the $0.0300 resistance.
  • Cardano (ADA) price gained 8% and broke the $0.0500 resistance.

Tron (TRX) surged more than 20% recently and cleared the $0.0300 barrier. Bitcoin, BCH, Ethereum, and altcoins like EOS and Cardano (ADA) could gain further.

Bitcoin Cash Price Analysis

Bitcoin cash price is back above the $160 support area after a short term downside correction against the US Dollar. However, BCH/USD is facing a lot of hurdles on the upside, starting with $164 and $165. The main resistance on the upside is near the $170 level.

On the other hand, if there is a downside correction below $160, the price may decline towards the $155 level. The key support below $155 is near the $150 level.

EOS, Tron (TRX) and ADA Price Analysis

EOS price gained traction recently above the $2.80 resistance area. Buyers were successful in pushing the price above the $2.90 resistance as well. Going forward, the price may accelerate above the $3.00 barrier if buyers remain in action.

Tron was one of the best performers lately as it rallied more than 20% and broke the $0.0250 and $0.0280 resistance. More importantly, TRX price cleared the $0.0300 barrier and it may continue to move higher.

Cardano price gained more than 8% recently and broke the $0.0520 and $0.0540 resistance levels. ADA is now trading nicely above $0.0520 and it may even clear the $0.0550 resistance in the near term.

Crypto Market Cap Total EOS, Bitcoin Cash, Tron (TRX), ADA Price Analysis

Looking at the total cryptocurrency market cap hourly chart, there is a strong support formed near the $132.00B level. More importantly, it seems like there is a breakout pattern formed with resistance at $135.00B and support near $131.00B. A break above $135.00B could clear the path for more gains in BTC, ETH, tron, litecoin, ripple, EOS, ADA, NEO, ICX and other altcoins in the near term.

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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.

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