technical analysis altcoins

Crypto Market at Major Crossroads: Litecoin (LTC), BCH, TRX, ADA Price Analysis

Avatar Aayush Jindal 7 months ago
  • The total crypto market cap rebounded recently and revisited the $129.0B resistance area.
  • Litecoin (LTC) price gained nearly 5% and it seems like it could test $58 or $60.
  • Bitcoin cash price is trading sideways below the $130 resistance level.
  • Tron (TRX) corrected above the $0.0220 level, but it could face a strong hurdle near $0.0230.
  • Cardano (ADA) price is gaining momentum and it may trade towards the $0.0500 resistance level.

The crypto market cap is approaching a crucial resistance area and it could surge higher. Bitcoin (BTC), Ethereum (ETH), ripple, litecoin (LTC), bitcoin cash, TRX, XLM and ADA remain supported.

Bitcoin Cash Price Analysis

Recently, bitcoin cash price declined below the $130 and $128 support levels against the US Dollar. The BCH/USD pair tested the $126 support level and later corrected higher. The price is currently trading just above the $128 level and it seems like it could test the $130 resistance level in the near term.

If there is a break above the $130 resistance, the next aim for buyers could be the $132 barrier. On the downside, a break below the $128 support may perhaps push the price towards the $126 or $125 support.

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

Litecoin price remained in a strong uptrend from the $52 support level against the US Dollar. LTC price recently spiked towards the $58 level and later corrected lower. However, the $54 support prevented declines and the price recently gained more than 5%. It is currently trading above the $57 level and it may continue to rise towards the $58 or $60 resistance.

Tron price declined heavily and broke the $0.0220 support level recently. TRX price tested the $0.0210 level and late recovered above $0.0220. However, there are many hurdles on the upside near the $0.0230 and $0.0232 levels, where sellers are likely to emerge.

Cardano price traded nicely in the past few sessions and broke the $0.0450 and $0.0465 resistance levels. ADA price is currently trading above the $0.0470 level and it may continue to climb higher. An immediate resistance is at $0.0485, above which the price could rally towards the $0.0500 resistance zone.

Crypto Market Cap Bitcoin Cash Litecoin LTC TRX ADA

Looking at the total cryptocurrency market cap hourly chart, there was a drop below the $128.0B support level. The market cap tested the $125.0B support level and it recently corrected higher. There was a decent rebound above the $127.5B level, but there is a strong resistance formed near $129.0B and a bearish trend line. Moreover, the key resistance is near the $130.0B level. If there is an upside break above the $130.0B barrier, the crypto market could rally in the near term, with gains in bitcoin, Ethereum, EOS, litecoin, ripple, ADA, BCH, TRX, ICX, XLM and other altcoins.

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