- The total crypto market cap found a strong support near $122.0B and recently climbed higher.
- Bitcoin price bounced back above the $7,700 and $7,800 resistance levels.
- Bitcoin cash price gained a strong bullish momentum and jumped back above $400.
- EOS price is recovered above the key $6.00 and $6.05 resistance levels.
- Stellar (XLM) price is currently consolidating below the $0.1250 and $0.1300 resistance levels.
- Tron (TRX) price is holding the key $0.0265 and $0.0272 support levels.
Bitcoin Cash Price Analysis
Bitcoin cash price found a strong support near the $370 and $375 levels against the US Dollar. The BCH/USD pair started a fresh increase and broke the $390 and $395 resistance levels. The pair even traded above the $400 level and it is currently consolidating gains.
On the upside, an immediate resistance is near the $410 level, above which the price may continue higher towards the $420 level. On the downside, the key supports are near the $395 and $390 levels.
Stellar (XLM), EOS and Tron (TRX) Price Analysis
EOS price found support near $5.80 and recently recovered above the $5.85 and $5.95 levels. The price even broke the $6.00 barrier and it may continue to rise towards the $6.15 and $6.20 resistance levels.
Stellar price tested the $0.1200 support level and it is slowly moving higher. An immediate resistance is at $0.1250, above which XLM price might surge towards the $0.1300 or $0.1320 resistance. On the downside, the main supports are $0.1200 and $0.1150.
Tron price settled below the key $0.0285 support area and recently tested the $0.0270 level. TRX price is currently moving higher and it could revisit the $0.0280 and $0.0285 levels. However, a convincing break above the $0.0290 level is needed for more gains in the near term.
Looking at the total cryptocurrency market cap hourly chart, there was a downside correction from the $244.0B resistance area. The market cap decline below the $230.0B support area and recently tested the $220.0B support area. It recovered recently and climbed above the $230.0B resistance. It seems like there is a major contracting triangle forming with resistance near the $240.0B level. A successful close above the $240.0B resistance may perhaps open the doors for more gains. The next key resistance is near $245.0B, above which the market cap could accelerate towards the $250.0B level. On the downside, the main supports are near the $225.0B and $222.0B levels. Overall, there are could be more upsides in bitcoin, Ethereum, EOS, ripple, litecoin, bitcoin cash, XLM, TRX, BNB, WAN, WTC, ICX, and other altcoins in the near term.