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

Avatar Aayush Jindal 1 year ago
  • The total crypto market cap is currently consolidating above the $112.00B support level.
  • Litecoin (LTC) price is under pressure and it seems to be struggling to stay above the $30 support.
  • Bitcoin cash price is trading in a tight range between the $120 and $130 levels.
  • Tron (TRX) gained more than 8% and broke the $0.0260 resistance level.
  • Cardano (ADA) price is trading flat above the $0.0420 support level.

Bitcoin (BTC), Ethereum (ETH), ripple, litecoin and cardano declined heavily this week. The crypto market is currently ranging, but tron (TRX) made a nice upward move.

Bitcoin Cash Price Analysis

Bitcoin cash price declined recently and tested the $120 support level against the US Dollar. BCH/USD is currently trading in a range and it is consolidating above the $120 support area. On the upside, there are many hurdles near the $125, $128 and $130 levels.

On the downside, the $120 support holds the key. If there is a bearish break below $120, the price could accelerate losses towards the $110 level in the near term.

Litecoin (LTC), Tron (TRX) and ADA Price Analysis

Litecoin price made a sharp downside move recently and traded below the $38 and $35 support levels. LTC even broke the $33 support and tested the $30 support area. It is currently trading in the $30-32 range and preparing for the next move.

Tron price once again performed really well and gained more than 8%. TRX price broke the $0.0250 and $0.0258 resistance levels to set the stage for more gains. The next stop could be $0.0272 in the short term.

Cardano price is currently consolidating above the $0.0420 support level. ADA could make the next move either towards the $0.0450 resistance or towards the $0.0400 support area.

Crypto Market Cap, Bitcoin, Ethereum, EOS, litecoin, ripple, XLM, BCH, TRX

Looking at the total cryptocurrency market cap hourly chart, there is a contracting triangle in place with resistance at $116.00B and support near the $113.20B level. It seems like the market cap is preparing for the next move either above $116.00B or below the $112.00B support level. Therefore, there could be swing moves (bearish or bullish) in Bitcoin, Ethereum, EOS, litecoin, ripple, XLM, BCH, TRX and other altcoins remains in the near term.

Aayush Jindal

Aayush is a Senior Forex, Cryptocurrencies and Financial Market Strategist with a background in IT and financial markets. He specialises in market strategies and technical analysis, and has spent over a DECADE as a financial...

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