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Bitcoin And Crypto Market On The Edge: BCH, Litecoin, EOS, XLM Analysis

Avatar Aayush Jindal 2 months ago
  • The total crypto market cap is likely preparing for the next move above $190.0B.
  • Bitcoin price is holding the main $7,000 pivot level and consolidating gains.
  • Litecoin (LTC) price is currently struggling to settle above the $40.00 region.
  • Bitcoin cash price is consolidating near the $185 level, with hurdles near $192 and $195.
  • EOS price is likely to slowly rise towards the $2.550 and $2.600 resistance levels.
  • Stellar (XLM) price must stay above $0.0450 to recover towards $0.0500.

Bitcoin (BTC) and the crypto market cap are holding key supports. Ethereum (ETH), LTC, ripple, bitcoin cash, EOS, TRX, and stellar are struggling to continue higher.

Bitcoin Cash Price Analysis

After tagging the $170 level, bitcoin cash price started a decent upside correction against the US Dollar. BCH price traded above the $180 level and it is currently consolidating near the $185 level.

On the upside, there are two important hurdles near the $192 and $195 levels, above which the price could climb towards the $215 level. On the downside, if the price fails to stay above the $180 level, it could revisit the $170 low in the near term.

Litecoin (LTC), EOS and Stellar (XLM) Price Analysis

Litecoin price is recovering above the $38.50 level, but it is currently struggling to settle above the $40.00 region. A successful close above the $40.00 level might lead the price above the $42.00 resistance level. If not, the price could trade below $38.50 and resume its decline. The next key support is near the $37.00 level.

EOS price is holding the $2.400 support area and it is currently trading in a range. On the upside, there are many resistances, starting with $2.500. The main ones are $2.550 and $2.600, above which the bulls are likely to aim the $3.000 resistance area in the near term.

Stellar price held the $0.0420 support area and recently corrected above the $0.0450 level. However, XLM price is facing a lot of hurdles on the upside, starting with $0.0460 and $0.0465. To start a strong recovery, the price climb above the $0.0500 resistance area.

Bitcoin Crypto Market Cap

Crypto Market Cap

Looking at the total cryptocurrency market cap 4-hours chart, there was a sharp recovery wave from the $166.0B area. The crypto market cap jumped above the $185.0B resistance and tested the $192.0B resistance. It is currently consolidating near $185.0B and preparing for the next move.

If there is a clear break above the $190.0B and $192.0B resistance, there are chances of another increase in bitcoin, Ethereum, EOS, litecoin, ripple, XLM, BCH, ADA, BNB, TRX, ICX, and other altcoins in the coming sessions.

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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