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Bitcoin & Crypto Market Could Rise Again: BNB, BCH, LTC, EOS Analysis

Avatar Aayush Jindal 5 months ago
  • The total crypto market cap is holding the key $182.0B and $180.0B support levels.
  • Bitcoin price is trading above the $7,200 support and it could start a fresh increase.
  • Litecoin (LTC) price is slowly rising and it might test the $41.20 resistance.
  • BCH price is up 4% and it is moving higher towards the $200 resistance area.
  • EOS price is rising and it seems like it could attempt to clear the $2.700 resistance.
  • Binance coin (BNB) is struggling to clear the $13.50 and $13.80 resistance levels.

Bitcoin (BTC) and the crypto market cap are holding key support levels. Many altcoins such as Ethereum (ETH), binance coin (BNB), ripple, litecoin, BCH, EOS, TRX, and ADA are consolidating.

Bitcoin Cash Price Analysis

After a downside correction, bitcoin cash price found support near the $185 level against the US Dollar. BCH price is currently moving higher and it is trading above the $190 level. The price is up around 4% and it could continue to rise towards the $200 resistance level.

On the downside, the $185 level is a major support area. If there is a downside break below the $185 support, the price could revisit the $170 support area.

Binance Coin (BNB), Litecoin (LTC) and EOS Price Analysis

Binance coin (BNB) price found support near the $12.80 level and recently recovered above the $13.00 level. BNB price is currently consolidating near $13.20 and it might rise slowly towards the main $13.50 and $13.80 resistance levels.

Litecoin price is somehow holding the $40.00 support levels. On the upside, an initial resistance for LTC/USD is near the $41.20 level, above which the price is likely to accelerate higher. The next major resistance is seen near the $42.50 level. On the downside, the main supports are $39.50 and $48.40.

EOS price is trading with a positive bias above the $2.500 resistance area. If the price continues to rise, it could face hurdles near the $2.650 and $2.700 levels. On the downside, a clear break below the $2.500 level might start another decline towards the $2.300 level in the near term.

Bitcoin Crypto Market Cap

Crypto Market Cap

Looking at the total cryptocurrency market cap hourly chart, there was a failed breakout attempt near the $195.0B resistance area. The crypto market cap is now near the $185.0B level and it seems like it could rise slowly towards the $195.0B resistance.

Conversely, a break below the $182.0B support might spark a fresh decrease in bitcoin, Ethereum, EOS, litecoin, ripple, ADA, BCH, XLM, BNB, TRX, XMR, 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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