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Crypto Market Is Crucial Uptrend: EOS, Bitcoin Cash, TRX, ADA Price Analysis

Avatar Aayush Jindal 1 year ago
  • The total crypto market cap is gaining traction and it is about to break the $140.0B resistance area.
  • EOS price is placed nicely above the $4.10 and $4.20 support levels, with a positive bias.
  • Bitcoin cash price may soon make an attempt to clear the $170 resistance area.
  • Tron (TRX) price is likely to face a strong selling interest near the $0.0240 resistance.
  • Cardano (ADA) price settled above the $0.0700 level and it may accelerate further above $0.0720.

The crypto market gained bullish momentum, with positive moves in bitcoin (BTC) and Ethereum (ETH). EOS, BCH, ripple, tron (TRX), ADA, BNB and other altcoins are likely to accelerate higher.

Bitcoin Cash Price Analysis

This past week, there was a solid recovery in bitcoin cash price above the $160 resistance against the US Dollar. The BCH/USD pair even settled above the $165 level and tested the $170 resistance. At present, the price is consolidating above the $165 support and it may revisit the $170 resistance.

On the upside, a clear break above the $170 resistance may open the doors for more gains. The next key resistance is at $172, above which the price may test $175.

EOS, Tron (TRX) and ADA Price Analysis

EOS price gained bullish momentum and moved above the $4.00 and $4.10 resistance levels. The price even broke the $4.20 level and it is currently consolidating gains. The last week swing high was near $4.40 and it seems like the price may climb higher this week to retest the $4.40 level or the $4.50 resistance area.

Tron price managed to stay above the $0.0230 and $0.0232 support levels. TRX price recently moved above the $0.0235 level and it seems like it could test the main resistance at $0.0240. If buyers fail to clear the $0.0240 resistance, there could be a fresh decline in TRX below $0.0232.

Cardano price performed really well this past week and traded above the $0.0700 resistance level. ADA is currently trading in a range above the $0.0700 level, with an immediate resistance near the $0.0720 level. Conversely, if there is a downside correction, the price may test $0.0680.

Crypto Market Cap Bitcoin Cash BCH TRX ADA EOS

Looking at the total cryptocurrency market cap hourly chart, there was a sharp recovery after the $136.5B level acted as a strong support. The market cap climbed above the $138.0B level and it is currently trading near the last swing high. The current technical structure is bullish and suggests more upsides above the $139.5B and $140.0B resistance levels in the near term. Therefore, there are high chances of more gains in bitcoin, ETH, XRP, TRX, ADA, bitcoin cash, litecoin, EOS, stellar, IOTA and other altcoins in the coming sessions.

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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