- The total crypto market cap is showing signs of a recovery above the $108.50B support level.
- Litecoin (LTC) price is gaining momentum and it could trade above the $35.00 resistance.
- Bitcoin cash price is currently consolidating below the $120 resistance level.
- Tron (TRX) is up more than 8% and it broke the $0.0275 resistance zone.
- Cardano (ADA) price is trading flat just above the $0.0375 support level.
Bitcoin Cash Price Analysis
Bitcoin cash price declined below the $120 support recently against the US Dollar. BCH/USD tested the $118 support level and it is currently consolidating in a tight range. The next move could be either above the $120 resistance or below the support level.
If sellers push the price below the $118 support, there could be a downside extension towards the $115 or $112 support level.
Litecoin (LTC), Tron (TRX) and Cardano (ADA) Price Analysis
Litecoin price remained in a positive zone above the $30.00 and $32.00 support levels. LTC recently climbed above the $34.00 resistance and it seems like it could continue to move higher. The next resistance is at $35.00, above which the price may perhaps rally towards the $38.00 level in the near term.
Tron price once again performed really well and traded above the $0.0265 and $0.0270 resistance levels. TRX is up more than 8% and it seems like buyers are looking for a test of the $0.0285 resistance. On the downside, the previous resistances at $0.0270 and $0.0265 are likely to act as supports.
Cardano price settled below the $0.0392 and $0.0385 resistance levels. ADA tested the $0.0370 support level and it is currently trading flat near the $0.0275 level.
Looking at the total cryptocurrency market cap hourly chart, there is a strong support formed near the $108.00B level and a bullish trend line. If the market moves above the $110.00B resistance and a bearish trend line, there could be a decent recovery in the near term. Therefore, bitcoin, Ethereum, XLM, litecoin, ripple, TRX, BCH, ADA, EOS and other altcoins could correct higher.