technical analysis altcoins

Crypto Market And Bitcoin Facing Hurdles: BCH, BNB, EOS, TRX Analysis

Avatar Aayush Jindal 4 months ago
  • The total crypto market cap climbed higher, but it failed to surpass the $272.0B resistance.
  • Bitcoin price surged around 5%, but it was rejected near the $10,500 and $10,600 resistance levels.
  • EOS price settled above the $3.600 level and it is facing hurdles near the $3.700 and $3.800 levels.
  • Binance Coin (BNB) is still trading in a bearish zone below the key $27.50 pivot level.
  • BCH price is trading nicely above the $305 and $310 supports, but struggling near $320.
  • Tron (TRX) price is under a lot of pressure and it is currently well below the $0.01850 resistance.

Bitcoin (BTC) and the crypto market cap are facing many key resistances. Binance coin (BNB), Ethereum (ETH), BCH, tron (TRX), litecoin, ripple and EOS are also struggling to gain traction.

Bitcoin Cash Price Analysis

There was a decent recovery in BCH price above the $305 and $310 resistance levels against the US Dollar. However, the BCH/USD pair is facing a couple of important resistances near the $320 level. Therefore, the price must rise and settle above $320 to continue higher this week.

If there is no upside break above $320, the price could start a fresh decline. A break below the $305 and $300 support levels might push the price towards the $300 level.

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

EOS price settled above the $3.600 resistance level and traded above the $3.650 level. However, there are many key hurdles forming near the $3.700 and $3.800 levels. A convincing close above $3.800 is needed for an upside acceleration in the near term. On the downside, the main support is near the $3.500 level.

Tron price started an upside correction from the $0.0155 support area. TRX price climbed above the $0.0165 resistance level and is trading above $0.0172. However, the price seems to be struggling to surpass the $0.0185 resistance area.

Binance coin (BNB) declined below the key $27.50 support level to move into a bearish zone. BNB price is currently holding the $26.00 support, but it is facing a lot of resistance near the $26.80 and $27.00 levels. On the downside, a break below $26.00 may perhaps push the price towards the $25.00 level.

Bitcoin Crypto Market Cap ETH XRP BCH LTC EOS TRX ADA BNB ETC

Looking at the total cryptocurrency market cap 4-hours chart, there was an upward recovery from the $250.0B support area. The market cap climbed sharply above the $260.0B resistance and a bearish trend line. However, the $270.0B and $272.0B levels acted as major hurdles. The market cap is trimming gains and is currently near the $260.0B level. It seems like there could be a fresh upward move towards the $272.0B resistance in the coming sessions. However, upsides could be contained in bitcoin, Ethereum, TRX, LTC, EOS, ripple, ADA, XLM, WTC, BCH, and ICX in the near term.

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