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Crypto Market Staging Comeback: Bitcoin Cash, XLM, EOS, TRX Price Analysis

Avatar Aayush Jindal 1 year ago
  • The total crypto market cap is currently consolidating below the $167.0B resistance.
  • Bitcoin cash price is currently above $260 and it could rebound towards $270 and $275.
  • EOS price is likely to climb slowly above the $4.75 and $4.80 resistance levels.
  • Stellar (XLM) price is making an attempt to move back above the $0.1000 resistance.
  • Tron (TRX) could test the $0.0245 resistance, where seller are likely to appear.

The crypto market cap is likely to recover along with bitcoin (BTC) and Ethereum (ETH). BCH, stellar (XLM), ADA, EOS, ripple and tron (TRX) could correct higher in the short term.

Bitcoin Cash Price Analysis

Bitcoin cash price declined heavily in the past three days after it settled below the $300 support against the US Dollar. The BCH/USD pair broke the $290 and $280 support levels. It even tested the $260 support and currently consolidating gains above the $260 level.

On the upside, the $270 level may act as a strong resistance, above which the price is likely to climb above the $275 level in the near term.

Stellar (XLM), EOS and Tron (TRX) Price Analysis

EOS price was under a lot pressure as it broke the $5.00 and $4.80 support levels. The price traded close to the $4.50 support and recently recovered above $4.70. On the upside, there are a few important hurdles near the $4.75 and $4.80 resistance levels. On downside, the main supports are $4.62 and $4.50.

Stellar price settled below the main $0.1020 and $0.1000 support levels. It is currently correcting higher and it could make an attempt to climb back above the $0.1000 level. The next key resistances are near $0.1020 and $0.1040. On the downside, the main supports are $0.0975 and $0.0960.

Tron price remained in a strong downtrend below the $0.0250 support level. TRX price broke the $0.0240 support and recently traded close to the $0.0225 level. It is currently correcting higher and it may perhaps test the $0.0245 resistance.

Crypto Market Cap Bitcoin Cash BCH EOS TRX XLM BTC

Looking at the total cryptocurrency market cap hourly chart, there was a strong rebound from the $158.0B and $160.0B support levels. The market cap is now above the $164.0B level and it is likely to break a crucial bearish trend line with resistance at $166.0B. A successful close above the $166.0B and $167.0B resistance levels may open the doors for more upsides. The next key resistance is at $170.0B, where sellers may emerge. On the other hand, a failure to clear the $167.0B resistance might trigger bearish moves in the near term. Overall, there are high chances of a strong recovery in bitcoin, Ethereum, EOS, ripple, litecoin, bitcoin cash, XLM, TRX, WAN, WTC, ICX, and other altcoins in the near term.

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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