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- The total crypto market cap is holding a major support area near the $158.0B level.
- EOS price is trading nicely above $5.15 and it may climb towards the $5.40 level in the near term.
- Binance Coin (BNB) seems to be setting up for a break above the $20.00 level.
- Bitcoin cash price corrected lower after trading close to the $350 resistance.
- Tron (TRX) price is gaining momentum and it is currently up around 5% to $0.0272.
Bitcoin cash, litecoin, tron (TRX), binance coin (BNB) and EOS are setting up the next break. The crypto market remains supported and dips in bitcoin (BTC), Ethereum (ETH) and ripple remain well bid.
Bitcoin Cash Price Analysis
Bitcoin cash price was the best performer in the top 10 coin as it broke the $300 resistance level against the US Dollar. The BCH/USD pair even broke the $320 level and traded close to the $350 resistance. Recently, it started a downside correction and declined sharply below the $300 level.
However, the $275-280 support is acting as a strong buy zone. Therefore, the price is likely to bounce back as long as there is no close below the $275 support area.
EOS, Tron (TRX) and BNB Price Analysis
EOS price settled above the $5.00 and $5.10 support levels. The price is currently consolidating above the $5.15 level and it seems like it could trade above the $5.20 and $5.30 levels. The next stop could be $5.40, above which the price may climb towards the $5.75 and $5.80 levels.
Tron price is trading nicely and it recently gained more than 5%. TRX price recently broke the $0.0265 and $0.0270 resistance levels to move into an uptrend. If buyers remain in action, there are chances of more gains above the $0.0280 and $0.0295 resistance levels in the coming sessions.
Binance coin (BNB) spiked towards the $20.00 resistance level, but it could not gain pace above $20.00. BNB is currently consolidating above the $19.00 level and it seems to be preparing for the next wave. If there is an upside break above $20.00, there could be a sharp rally towards the $22.00 level. If not, the price may decline to $17.50.
Looking at the total cryptocurrency market cap hourly chart, there was a downside correction from the $178.0B and $180.0B resistance levels. The market cap declined below the $170.0B level, but the $158.0B level acted as a strong support. It represents the 50% Fib retracement level of the last wave from the $136.8B low to $178.3B high. Therefore, as long as the market cap is above $157.6B level, there could be a fresh increase in bitcoin, ETH, TRX, LTC, EOS, BNB, ripple, ADA, XLM, WAN, BCH, XMR and other altcoins in the near term.
