technical analysis altcoins

Crypto Market Could Rally Further: Bitcoin Cash, BNB, EOS, TRX Price Analysis

Avatar Aayush Jindal 7 months ago
  • The total crypto market cap gained momentum and climbed towards the $288.0B level.
  • Bitcoin price surged more than 5% and it recently traded towards the $9,750 level.
  • EOS price is likely to gain momentum once it settles above the key $7.000 resistance level.
  • Binance Coin (BNB) is up more than 4% and it recently broke the $36.20 resistance.
  • Bitcoin cash price is back above the $420 level and it could continue to climb towards $430.
  • Tron (TRX) price is still struggling to gain pace above the $0.0335 and $0.0340 resistances.

The crypto market cap jumped more than $10B, with sharp gains in bitcoin (BTC) and Ethereum (ETH). Binance coin (BNB), BCH, ripple, tron (TRX), litecoin and EOS are also signaling an upward move.

Bitcoin Cash Price Analysis

After testing the $400 support area, bitcoin cash price started a fresh increase against the US Dollar. The BCH/USD pair broke the key $410 and $415 resistance levels to avoid further losses. It is now trading above the $420 level and it seems like there could be more gains towards the $430 and $435 levels.

On the downside, the $420 level might act as a support, below which there is a risk of a fresh decline towards the $410 level.

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

EOS price steadily climbed from the $6.665 support area. It broke the $6.800 and $6.900 resistance levels. It is likely to continue higher above the $7.000 resistance level. If there is a proper close above $7.000, the price is likely to gain momentum towards $7.200 and $7.225.

Tron price is struggling to climb above the $0.0335 and $0.0340 resistance levels. TRX price is now trading near the $0.0330 support and there is a risk of more losses. If it stays above $0.0330, there could be a fresh increase above the $0.0340 level.

Binance coin (BNB) is following bitcoin and it recently surged above the $35.00 and $36.00 resistance levels. BNB price is up more than 4% and it is currently trading near the $36.50 level. If there are more gains, the price could test the $37.00 or $37.20 resistance.

Crypto Market Cap Bitcoin Cash BTC BCH EOS Litecoin LTC XLM ADA TRX

Looking at the total cryptocurrency market cap 4-hours chart, there was a major upward move above the $275.0B and $280.0B resistance levels. The market cap even climbed to a new monthly high above the $285.0B level. It moved towards the $288.0B level and it is currently retreating from highs. On the downside, there are many supports near the $282.0B and $280.0B levels. On the upside, the market cap could test $295.0B or even $300.0B. Therefore, there could be more gains in bitcoin, Ethereum, TRX, LTC, EOS, ripple, ADA, XLM, WTC, BCH, and ICX in the near term.

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