- The total crypto market cap extended gains and broke the key $260.0B resistance area.
- Bitcoin price gained more than 3% and broke the $10,000 resistance area.
- Litecoin (LTC) price climbed higher and recently tested the $100.00 resistance area.
- BCH price is correcting gains and it could revisit the $315 support level.
- Tron (TRX) price is trading above the $0.0220 level and it could continue to rise in the near term.
- Cardano (ADA) price is struggling to settle above $0.0600 and it could retest the $0.0580 support.
Bitcoin Cash Price Analysis
Bitcoin cash price climbed higher recently above the $320 and $330 resistance levels against the US Dollar. BCH/USD traded close to the $340 resistance level and recently started a downside correction. It broke the $330 level and is now approaching the $320 support level.
On the downside, an initial support is near the $320 level. If there are more losses below $320, the price could revisit the $305 support level. An intermediate support is near the $315 level.
Cardano (ADA), Litecoin (LTC) and Tron (TRX) Price Analysis
Litecoin price gained bullish momentum and climbed above the $92.00 and $95.00 resistance levels. LTC price even tested the $100.00 resistance and it is currently correcting gains. On the downside, the previous resistances near $95.00 and $92.00 are likely to act as strong supports in the near term.
Tron price managed to settle above the $0.0220 level and it is currently consolidating in a range. On the upside, there are many resistances near the $0.0250, $0.0280 and $0.0300. On the downside, a break below $0.0220 might push the price back towards the $0.0210 support
Cardano price struggled on many occasions to gain strength above $0.0600 and $0.0610. ADA price is currently below $0.0600 and it could test the $0.0580 support level. On the upside, a proper follow though above $0.0610 might push the price towards the $0.0650 level.
Looking at the total cryptocurrency market cap 4-hours chart, there was a decent recovery above the $255.0B and $260.0B resistance levels. More importantly, the market cap climbed above a major bearish trend line near the $260.0B level. The next key resistance is near the $270.0B level, above which the market cap is likely to rise steadily towards the $290.0B and $300.0B resistance levels. On the downside, the main support is near the $248.0B level. Overall, it seems like there are chances of more gains in bitcoin, Ethereum, EOS, litecoin, ripple, ADA, BCH, TRX, ICX, XLM and other altcoins in the short term.