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- 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.
The crypto market cap and bitcoin (BTC) are currently approaching key resistance levels. Ethereum (ETH), LTC, BCH, EOS, cardano, ripple, TRX, XLM and BNB are showing positive signs.
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.
