technical analysis altcoins

Binance Coin (BNB) Leading Crypto Market Higher: LTC, TRX, Bitcoin Cash Analysis

Avatar Aayush Jindal 6 months ago
  • The total crypto market cap gained traction and broke the key $128.0B resistance level.
  • Binance coin (BNB) price rallied further and broke the $14.00 and $15.00 resistance levels.
  • Litecoin (LTC) price is up more than 10% and it is about to test the $60 resistance.
  • Bitcoin cash price is slowly moving higher towards the $136 and $138 resistance levels.
  • Tron (TRX) price seems to be struggling near the $0.0240 resistance level.

Binance coin (BNB) and litecoin (LTC) rallied and dragged the crypto market higher. Bitcoin (BTC), Ethereum (ETH), ripple, bitcoin cash, TRX, XLM and EOS are likely to continue higher.

Bitcoin Cash Price Analysis

Recently, bitcoin cash price started a decent upward move and traded above the $130 resistance level against the US Dollar. The BCH/USD pair recently settled above the $132 resistance and it seems like it could even surpass the $136 resistance level in the near term.

The next main resistance is near the $138 level, followed by $140. A successful break above the $140 resistance could open the doors for a larger recovery towards the $150 level.

Binance Coin (BNB), Litecoin (LTC) and Tron (TRX) Price Analysis

Binance coin (BNB) price surged higher and broke the $14.00 and $15.00 resistance levels. BNB price is up more than 15% and it single handily dragged the crypto market higher in the past few sessions. The next stop for sellers could be near the $16.50 level, above which it may test the $18.00 level. If there is a downside correction, the $15.00 and $14.00 levels are likely to act as solid supports.

Litecoin price also followed a bullish path and broke the $55.00 resistance level. LTC price is up more than 10% and it seems like buyers are aiming for the $60.00 resistance level in the coming sessions. If there is a downside correction, an initial support is near the $56.00 level. However, the main support is near the $55.00 level.

Tron price recovered recently above the $0.0230 resistance level against the US Dollar. However, TRX price faced a strong resistance near the $0.0240 level and it is currently trading in a tight range above the $0.0232 support.

Crypto Market Cap Binance Coin BNB Bitcoin Cash BCH TRX Litecoin

Looking at the total cryptocurrency market cap hourly chart, there was a break above the key $128.0B resistance level. The market cap is slowly moving higher towards the $130.0B resistance. If there is an upside break above the $130.0B level, there could be more upsides towards the $134.0B and $135.0B resistance levels in the near term. The overall market sentiment is very positive, with chances of more upsides in bitcoin, Ethereum, EOS, litecoin, ripple, BNB, BCH, TRX, ICX, XLM and other altcoins in the near term.

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