technical analysis altcoins

Crypto Market Starts Fresh Increase: EOS, Bitcoin Cash, TRX, ADA Price Analysis

Avatar Aayush Jindal 6 months ago
  • The total crypto market cap stayed above the $158.0B support and climbed above $165.0B.
  • EOS price is climbing higher and it recently broke the $5.40 and $5.50 resistance levels.
  • Bitcoin cash price is back above the $300 resistance with a positive structure.
  • Tron (TRX) price found support near the $0.0260 level and recently recovered higher.
  • Cardano (ADA) price is slowly moving higher towards the $0.0900 resistance level.

The crypto market started a fresh increase, with bullish moves in bitcoin (BTC) and Ethereum (ETH). EOS, BCH, ripple, tron (TRX), ADA, BNB and other altcoins are slowly moving higher.

Bitcoin Cash Price Analysis

Recently, we saw a downside correction in bitcoin cash price below the $280 level against the US Dollar. The BCH/USD pair tested the $260 support and recently recovered. It broke the $290 and $300 resistance levels to move back in a positive zone.

The price is currently trading with a positive bias and it may continue to rise towards the $305 and $310 resistance levels. If there is another correction, the price might find bids near the $295 or $290 support.

EOS, Tron (TRX) and ADA Price Analysis

EOS price recovered nicely after it settled above the $5.25 resistance area. The price gained traction above $5.40 and climbed more than 4%. It is currently trading with a positive angle above the $5.50 level and it may continue to rise towards the $5.60 and $5.65 resistance levels.

Tron price corrected lower this past week below the $0.0285 and $0.0290 support levels. TRX price tested the $0.0260 support area, where buyers emerged. Recently, the price recovered and moved above the $0.0270 level. It could gain pace if bulls clear the $0.0275 and $0.0280 resistance levels.

Cardano price is currently trading nicely above the $0.0800 support level. ADA price is up around 2% and it moved above the $0.0840 level. The current price action is positive and it seems like the price might climb higher towards the $0.0900 resistance level. The main resistance is at $0.1000, where sellers struggled this past week.

Crypto Market Cap Bitcoin Cash BCH BTC ETH EOS TRX ADA

Looking at the total cryptocurrency market cap hourly chart, there was a sharp downside correction from the $180.0B area. The market cap declined below the $170.0B support and tested the next key support near the $160.0B level. A swing low was formed at $158.0B and later there was a fresh increase. The current structure is positive since the market cap moved above the $160.0B and $165.0B levels. An immediate resistance is near the $170.0B level, above which the market cap could move higher towards the $174.B level. On the downside, there are many supports near the $160.0B level. Therefore, dips remain supported in bitcoin, ETH, XRP, TRX, ADA, bitcoin cash, litecoin, EOS, stellar, IOTA and other altcoins.

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