- The total crypto market cap is currently recovering, but it is facing resistance near $220.0B.
- Bitcoin price is up around 5%, but it is also facing hurdles near $8,300 and $8,350.
- EOS price extended its gains above the $3.000 resistance and tested $3.200.
- BCH price is up around 5% and it is trading near the key $240 resistance area.
- Tron (TRX) price rallied 10% and broke the $0.0160 resistance level.
- Cardano (ADA) price rebounded 5%, but it is still well below the $0.0450 and $0.0500 levels.
Bitcoin Cash Price Analysis
After forming a support base above the $205 level, BCH price corrected above the $220 level against the US Dollar. The price even surpassed the $225 and $230 levels. The price is now testing the $240 resistance area, which is acting as a strong barrier for more upsides.
If there is a downside correction, the price could test the $230 level. The main support on the downside is near the $220 level, below which the price could test the $205 support.
EOS, Tron (TRX) and ADA Price Analysis
EOS price remained in a positive zone above the $2.850 support area. It broke the key $3.000 resistance and recently gained bullish momentum above the $3.100 level. The price is now testing the $3.200 resistance and it might correct a few points in the near term.
Tron price started a strong rise above the $0.0150 resistance area. TRX price gained more than 10% and it recently surpassed the $0.0160 resistance area. The price tested the $0.0165 resistance and it is currently consolidating gains. The main supports on the downside are near the $0.0160 level.
Cardano price started a slow recovery and it recently climbed above the $0.0400 resistance. ADA price is now trading near $0.0420 and it is facing a strong resistance near the $0.0450 level. If there are more gains, the price could test the key $0.0500 resistance area. The main support on the downside is near $0.0400 and $0.0395.
Looking at the total cryptocurrency market cap 4-hours chart, there was a steady recovery from the $200.0B support area. The market cap climbed above the $208.0B resistance and a connecting bearish trend line on the same chart. However, it is now facing a strong resistance near the $220.0B level and the 100 SMA. If there is an upside break above the $220.0B resistance, there could be more gains in bitcoin, ETH, XRP, TRX, ADA, bitcoin cash, litecoin, EOS, stellar, IOTA, ICX, WAN, and other altcoins in the near term.
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