technical analysis altcoins

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

Avatar Aayush Jindal 8 months ago
  • The total crypto market cap found support near $236.0B and jumped sharply above $245.0B.
  • Bitcoin price broke the key $8,000 resistance level to move into a positive zone.
  • EOS price broke the $6.40 and $6.50 resistance levels to start a decent recovery.
  • Binance Coin (BNB) is up more than 5% and it recently broke the $35.00 resistance.
  • Bitcoin cash price is above to break the $400 barrier to move into a bullish area.
  • Tron (TRX) price gained nearly 6% and it recently broke the key $0.0320 resistance.

The crypto market cap gained more than $10B, with positive moves in bitcoin (BTC) and Ethereum (ETH). Binance coin (BNB), BCH, tron (TRX), ripple, litecoin and EOS are currently gaining momentum.

Bitcoin Cash Price Analysis

After a major downside correction, bitcoin cash price found support above $360 against the US Dollar. The BCH/USD pair started a steady recovery and recently broke the $380 and $390 resistance levels. The pair is currently trading near $400, above which the bulls are likely to take control in the near term.

The next key resistances are near $410 and $420. If there is a downside move, the price might find bids near the $390 or $385.

Binance Coin (BNB), EOS, Tron (TRX) Price Analysis

EOS price remained stable above the $6.20 level and it recently recovered higher. The price broke the $6.25 and $6.32 resistance levels. Moreover, there was a break above the $6.45 and $6.50 resistance levels. The next stop for the bulls could be $6.60 or $6.65.

Tron price is gaining bullish momentum and it is currently trading up more than 5%. TRX price broke the $0.0300 and $0.0320 resistance levels. It is currently trading above the $0.0330 level and the next stop could be $0.0340. The main resistance for the bulls is near the $0.0350 level in the coming sessions.

Binance coin (BNB) is up more than 5% and it recently cleared the $34.00 and $35.00 resistance levels. BNB price is now consolidating above the $35.00 level, with an immediate resistance near the $35.40 and $35.50 levels. The main hurdle is near the $36.20 level.

Crypto Market Cap Bitcoin Cash BCH BTC EOS TRX BNB ADA

Looking at the total cryptocurrency market cap 4-hours chart, there was a major upside break above the $236.0B and $240.0B resistance levels. The market cap broke the $246.0B resistance and tested the next important resistance near the $252.0B level. At the moment, the market cap is confined in a range and it might surpass the $252.0B resistance area. The next major resistance could be $258.0B or $260.0B. If there is a downside correction, the $244.0B or $242.0B level might act as a support. Overall, there are chances of more gains in bitcoin, Ethereum, TRX, LTC, EOS, ripple, ADA, XLM, WTC, BCH, and ICX.

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