- The total crypto market cap is currently facing a strong resistance near the $108.2B levels.
- EOS price is holding the $2.32 support level and it correct higher towards $2.40.
- Bitcoin cash price is trading near $115 and it may test the $118 resistance in the near term.
- Tron (TRX) price failed to break the $0.0265 resistance level and declined slightly.
- Cardano (ADA) price is currently consolidating near the $0.0365 level.
Bitcoin Cash Price Analysis
Bitcoin cash price found support near the $112 level and later recovered against the US Dollar. BCH/USD traded above the $115 level and it is currently trading in a range. If buyers gain strength, the pair could climb towards the $118 or $120 resistance level.
On the downside, a break below the $115 support may perhaps push the price back towards the $112 or $110 support levels.
EOS, Tron (TRX) and ADA Price Analysis
EOS price corrected lower towards the $2.32 support level, where buyers appeared. The price later recovered above $2.35 and it is currently consolidating. On the upside, the main resistance is at $2.40.
Tron price struggled to gain momentum above the $0.0265 and $0.0270 resistance levels. TRX price declined below $0.0260 and it is currently trading above the $0.0255 support level, with a minor bearish angle.
Cardano price fell significantly in the past few days and settled below the $0.0380 support. ADA is currently trading above the $0.0365 level and it seems like there could be a minor upside correction towards $0.0372 or $0.0375.
Looking at the total cryptocurrency market cap hourly chart, there was a minor upward move from the $106.4B low. The market cap recovered above the $107.0B level, but it is facing a strong resistance near the $108.0B and $109.0B levels. There is also a bearish trend line in place with resistance at $108.2B on the same chart. Therefore, a break above the $109.0B resistance is needed for a decent upward move. Until then, bitcoin, ETH, XRP, tron, litecoin, EOS, stellar, IOTA and other altcoins could trade in a range.
Author: Temitayo Olojede , firstname.lastname@example.org