Crypto Market Staging Comeback: Bitcoin Cash, XLM, EOS, TRX Price Analysis

Aayush Jindal

6 years ago

2 mins read

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The total crypto market cap is currently consolidating below the $167.0B resistance.
Bitcoin cash price is currently above $260 and it could rebound towards $270 and $275.
EOS price is likely to climb slowly above the $4.75 and $4.80 resistance levels.
Stellar (XLM) price is making an attempt to move back above the $0.1000 resistance.
Tron (TRX) could test the $0.0245 resistance, where seller are likely to appear.

The crypto market cap is likely to recover along with bitcoin (BTC) and Ethereum (ETH). BCH, stellar (XLM), ADA, EOS, ripple and tron (TRX) could correct higher in the short term.

Bitcoin Cash Price Analysis

Bitcoin cash price declined heavily in the past three days after it settled below the $300 support against the US Dollar. The BCH/USD pair broke the $290 and $280 support levels. It even tested the $260 support and currently consolidating gains above the $260 level.

On the upside, the $270 level may act as a strong resistance, above which the price is likely to climb above the $275 level in the near term.

Stellar (XLM), EOS and Tron (TRX) Price Analysis

EOS price was under a lot pressure as it broke the $5.00 and $4.80 support levels. The price traded close to the $4.50 support and recently recovered above $4.70. On the upside, there are a few important hurdles near the $4.75 and $4.80 resistance levels. On downside, the main supports are $4.62 and $4.50.

Stellar price settled below the main $0.1020 and $0.1000 support levels. It is currently correcting higher and it could make an attempt to climb back above the $0.1000 level. The next key resistances are near $0.1020 and $0.1040. On the downside, the main supports are $0.0975 and $0.0960.

Tron price remained in a strong downtrend below the $0.0250 support level. TRX price broke the $0.0240 support and recently traded close to the $0.0225 level. It is currently correcting higher and it may perhaps test the $0.0245 resistance.

Looking at the total cryptocurrency market cap hourly chart, there was a strong rebound from the $158.0B and $160.0B support levels. The market cap is now above the $164.0B level and it is likely to break a crucial bearish trend line with resistance at $166.0B. A successful close above the $166.0B and $167.0B resistance levels may open the doors for more upsides. The next key resistance is at $170.0B, where sellers may emerge. On the other hand, a failure to clear the $167.0B resistance might trigger bearish moves in the near term. Overall, there are high chances of a strong recovery in bitcoin, Ethereum, EOS, ripple, litecoin, bitcoin cash, XLM, TRX, WAN, WTC, ICX, and other altcoins in the near term.

Aayush Jindal

Aayush Jindal, a luminary in the world of financial markets, whose expertise spans over 15 illustrious years in the realms of Forex and cryptocurrency trading. Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis.

From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation.
As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape.

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In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.