- The total crypto market cap found support near the $250.0B level and recently corrected higher.
- Bitcoin price recovered more than 5% and broke the $10,000 resistance area.
- Litecoin (LTC) price started a strong upward move above the $90.00 and $95.00 resistance levels.
- BCH price is back above the $300 resistance and is trading with a positive bias.
- Tron (TRX) price is currently consolidating losses above the $0.0230 support level.
- Cardano (ADA) price is up around 10% and it is currently approaching the $0.0600 resistance.
Bitcoin Cash Price Analysis
Bitcoin cash price found support near the $280 level after yet another downward move against the US Dollar. BCH/USD started a decent recovery and broke the $290 and $300 resistance levels. The price is up around 7% and it is likely to test the $320 resistance level in the near term.
On the downside, an initial support is near the $300 level. If there is a downside break below $300, the price could decline further towards the $280 support area.
Cardano (ADA), Litecoin (LTC) and Tron (TRX) Price Analysis
Litecoin price performed really well as the bulls defended the $85 support area. LTC price started a strong upward move and broke the $90.00 and $95.00 resistance levels. The price is up more than 7% and it seems like it could test the $98.00 and $100.00 resistance levels in the coming sessions.
Tron price declined heavily in the past three days and broke the $0.0280 and $0.0250 support levels. TRX price tested the $0.0225 support level and it is currently consolidating above the $0.0230 level. On the upside, there are many resistances near the $0.0245 and $0.0250 levels.
Cardano price remained well bid above the $0.0500 level and recently started a solid upward move. ADA price gained more than 10% and broke the $0.0580 resistance level. The current price action suggests that the price may even attempt to settle above the key $0.0600 resistance level in the short term.
Looking at the total cryptocurrency market cap 4-hours chart, the $250.0B level acted as a decent support after a steady decline. The market cap started a decent recovery above the $260.0B resistance level. However, it seems like there is a major resistance forming near $270.0B and a connecting bearish trend line. Therefore, an upside break above $270.0B might start a significant upward move. If not, there is a risk of a fresh drop to $250.0B. Overall, it seems like there are chances of more gains in bitcoin, Ethereum, EOS, litecoin, ripple, ADA, BCH, TRX, ICX, XLM and other altcoins in the near term.