- The total crypto market cap is currently correcting higher towards the $240.0B resistance.
- Stellar (XLM) price is performing nicely and it is up more than 5% above the $0.0750 resistance.
- Bitcoin cash price is likely to break the $300 resistance area in the near term.
- Tron (TRX) price is facing hurdles near the key $0.0200 resistance area.
- Cardano (ADA) price is consolidating below the key $0.0450 and $0.0465 resistance levels.
Bitcoin Cash Price Analysis
After a downside correction, BCH price found support near the $285 area against the US Dollar. As a result, the price started a fresh increase and traded above the $295 level. On the upside, an immediate resistance is near the $300 level, above which the price is likely to struggle near the $308 level.
On the downside, an initial support is near the $290 level. However, the main supports are near the $285 and $280 levels, below which the price could retest $265.
Stellar (XLM), Tron (TRX) and ADA Price Analysis
Stellar price is still following a bullish path above the $0.0700 support area. XLM price is up more than 5% today and it is trading nicely above the $0.0750 level. On the upside, an immediate resistance is near the $0.0795 and $0.0800 levels, above which the price could trade towards the $0.0820 level.
Tron price is currently consolidating below the $0.0200 resistance area. TRX price is likely to clear the $0.0200 resistance area and trade towards the $0.0212 and $0.0220 resistances. Conversely, it could retest the $0.0180 support area in the near term.
Cardano price is currently trading in a range above the $0.0420 support level. ADA price is facing a strong resistance near the $0.0450 level. If there is a clear break above the $0.0450 and $0.0465 resistance levels, the price could continue to rise towards the $0.0500 resistance area.
Looking at the total cryptocurrency market cap 4-hours chart, there was a decent recovery from the $225.0B support area. The market cap climbed back above the $232.0B level. However, it is facing a lot of hurdles near the $240.0B level. The main hurdle on the upside is near the $250.0B level.
Moreover, there is a connecting bearish trend line forming with resistance near the $242.0B level. Therefore, an upside break above $242.0B is needed for a decent upward move. If not, there are chances of another decline in bitcoin, Ethereum, EOS, stellar, LTC, ADA, EOS, ripple, TRX and other altcoins in the near term.