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Bitcoin Cash, Litecoin And Dogecoin Bulls Aim Higher Despite Sharp Dip

Avatar Aayush Jindal 12 months ago
  • The total crypto market cap extended upsides and traded close to the $180.0B resistance.
  • Bitcoin cash price almost doubled and it recently touched the $340 level before correcting lower.
  • Litecoin (LTC) traded close to the $100 resistance before a decent pullback.
  • Bitcoin SV is also trading nicely and it recently tested the $90 level.
  • Dogecoin price surged more than 20% and it recently tested the $0.0035 level.

Sharp gain in bitcoin cash, litecoin, dogecoin, BTC, XLM, ripple and ADA fueled $40.0 billion crypto rally. BTC, XRP and ETH corrected lower recently, but they remain well supported on dips.

Bitcoin Cash (BCH) Price Analysis

Recently, there was a strong upward move in bitcoin cash price above the $200 resistance level against the US Dollar. BCH outperformed every other coin in the top 10 and it almost doubled its price. Buyers even pushed the price above the $300 level and the price tested the $340 level.

Later, there was a sharp downside correction and the price traded below the $320 and $300 support. However, the price remains well supported on the downside near the $290 and $280 levels.

Litecoin (LTC), Dogecoin and EOS Price Analysis

Litecoin also performed really well after it broke the $70 resistance level. It climbed more than 30% and broke the $80 and $90 resistance levels. LTC even traded close to the $100 resistance level and recently corrected lower. It moved below the $90 level, but the $80 and $82 levels are acting as strong supports. As long as the price is above $80, it is likely to bounce back above $90 and $95.

Dogecoin started a strong upward move after forming a support base above the $0.0020 level. DOGE price climbed above the $0.0025 and $0.0030 resistance levels. The recent rally was strong as the price even traded towards the $0.0035 level. A high was formed near $0.00376 level and the price is currently correcting lower. The main supports are near $0.0035 and $0.0032.

EOS price rallied sharply above the $5.20 and $5.50 resistance levels. It tested the $5.80 level and recently corrected lower. It tested the $5.20 support and it remains well supported above the $5.00 level.

Crypto Market Bitcoin Cash BCH Litecoin LTC Dogecoin

Looking at the total cryptocurrency market cap hourly chart, there were further upsides above the $165.0B and $170.0B resistance levels. The market cap even moved closer to the $180.0B level before correcting lower. There was a sharp downside correction below the $175.0B and $170.0B levels. However, the previous resistance near the $160.0B zone acted as a strong support. The market cap is currently consolidating, but it could move higher once again towards $170.0B or even $175.0B. Therefore, there could be more gains in bitcoin, Ethereum, EOS, litecoin, ripple, bitcoin cash, dogecoin, XLM, ICX, and other altcoins in the near future.

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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