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Bitcoin And Crypto Market Rally Looks Real: LTC, BNB, BCH, TRX Analysis

Avatar Aayush Jindal 6 months ago
  • The total crypto market cap recovered nicely and broke the key $250.0B resistance area.
  • Bitcoin price is up more than 7% and it recently climbed above $10,400.
  • Binance coin (BNB) price is also gaining momentum and it recently broke the $22.50 resistance.
  • Litecoin (LTC) price is facing a few solid hurdles near the $68.00 and $70.00 levels.
  • BCH price is up more than 5% and it is about to break the $300 resistance area.
  • Tron (TRX) price is slowly moving towards the $0.0160 and $0.0162 resistance levels.

The crypto market cap and bitcoin (BTC) are currently surging above key resistances. Ethereum (ETH), litecoin, ripple, BCH, TRX, XLM, BNB and EOS are also correcting higher.

Bitcoin Cash Price Analysis

BCH price formed a decent support base near the $280 level against the US Dollar. The BCH/USD pair started a solid upward move and broke the $290 resistance level. The price is currently up more than 5%, with an immediate resistance near the $300 level.

If the price surges above the $300 and $305 resistance levels, there could be more gains in the coming sessions. On the downside, the $290 level may now act as a support in the short term.

Binance Coin (BNB), Litecoin (LTC) and Tron (TRX) Price Analysis

Binance coin (BNB) price is also showing a lot of positive signs and it recently climbed above the $22.00 resistance area. BNB price is up around 6% and it is trading above the $22.50 resistance level. The next key resistances are near the $23.00 and $23.20 levels.

Litecoin price is still facing a lot of hurdles on the upside near the $68.00 and $70.00 level. LTC price must settle above the $70.00 level to start a decent upward move. On the downside, the main supports are near the $65.00 and $62.00 levels.

Tron price is slowly moving higher and is trading above the $0.0155 level. An immediate resistance is near the $0.0160 level, above which TRX price could climb further above the $0.0162 resistance level. The main supports on the downside are near $0.0152 and $0.0150.

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

Looking at the total cryptocurrency market cap 4-hours chart, there solid recovery initiated from the $235.0B support area. The market cap broke the $240.0B and $250.0B resistance levels to move into a positive zone. Moreover, there was a break above this week’s followed bearish trend lines near $248.0B and $252.0B. The market cap is now placed nicely above $250.0B and the 100 SMA on the same chart. Therefore, there could be more gains in bitcoin, Ethereum, EOS, litecoin, ripple, binance coin, BCH, TRX, XMR, XLM and other altcoins in the near term.

Aayush Jindal

Aayush is a Senior Forex, Cryptocurrencies and Financial Market Strategist with a background in IT and financial markets. He specialises in market strategies and technical analysis, and has spent over a DECADE as a financial...

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