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Crypto Market Trend Remains Bullish: EOS, Bitcoin Cash, TRX, ADA Price Analysis

Avatar Aayush Jindal 1 year ago
  • The total crypto market cap is currently stuck in a range below the $178.5B resistance area.
  • EOS price is gaining bullish momentum and it is up more than 5% above $5.70 today.
  • Bitcoin cash price is likely to bounce back above $300 and $310 in the near term.
  • Tron (TRX) price is currently consolidating gains near the $0.0300 level.
  • Cardano (ADA) price is currently above $0.0850 and it might climb towards the $0.0900 level.

The crypto market trend remains bullish, with positive moves in bitcoin (BTC) and Ethereum (ETH). EOS, BCH, ripple, tron (TRX), ADA, BNB and other altcoins could continue to rise in the near term.

Bitcoin Cash Price Analysis

Recently, there was a downside correction in bitcoin cash price below the $300 level against the US Dollar. The BCH/USD pair tested the $285 and $290 support levels. It is currently moving higher towards $300 and it may continue to rise in the near term.

A proper close above the $300 level might call for more gains towards the $310 and $315 levels. On the downside, the main support is at $185, below which the price could move back towards the $275 level.

EOS, Tron (TRX) and ADA Price Analysis

EOS price is gaining traction today above the $5.50 and $5.60 resistance levels. The price is up more than 5% and it is currently trading above the $5.70 level. If buyers remain in action, the price is likely to revisit the $5.90 and $5.90 resistance levels in the near term. The next main resistance is near the $6.00 level.

Tron price is grinding higher and it recently broke the $0.0285 and $0.0290 resistance levels. TRX price even moved above the $0.0300 level and it may continue to rise towards the $0.0312 and $0.0315 resistance levels. The key supports are visible near the $0.0290 area.

Cardano price is up around 2% today and it is currently trading above the $0.0850 level. ADA price is likely to move further higher towards the $0.0900 and $0.0950 levels. The main resistance is at $0.1000, where buyers are likely to face a strong selling interest.

Crypto Market Cap Bitcoin Cash BCH EOS TRX ADA BTC

Looking at the total cryptocurrency market cap hourly chart, there was a rejection noted near the $178.0B and $178.4B levels. Later, the market cap corrected lower and started trading in a range above the $165.0B support and a bullish trend line. As long as the $165.0B support is intact, the market cap is likely to clear the $178.4B resistance. The next hurdles are near the $180.0B and $184.0B levels. Overall, the market trend remains bullish, with 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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