- The total crypto market cap rebounded nicely and tested the $114.00B resistance level.
- Bitcoin cash is up more than 7% and it broke the $115 and $116 resistance levels.
- EOS price is gaining momentum and it could test the $2.40 resistance level.
- Stellar (XLM) is correcting higher, with resistances near the $0.0900 and $0.0940 levels.
- Tron (TRX) is currently flat above the $0.0270 support level, with range moves.
Bitcoin Cash Price Analysis
Bitcoin cash price formed a solid support near the $110 level and later corrected higher against the US Dollar. BCH/USD gained traction and broke $115 and $116 resistance levels. The price is currently trading just below the $120 resistance level.
Going forward, there are chances of more gains above the $120 and $122 resistance levels. On the downside, the main supports are $116 and $115.
EOS, Stellar (XLM) and Tron (TRX) Price Analysis
EOS price tested the $2.20 support level recently and later started a decent recovery. It broke the $2.25 and $2.30 resistance levels, and now it seems like the price might climb towards the $2.40 resistance level.
Stellar price broke the $0.1000 support level recently and moved into a bearish zone. XLM tested the $0.0820 support and it is currently correcting higher. However, there are many hurdles for buyers on the upside such as $0.0900 and $0.0940.
Tron price is currently consolidating above the $0.0270 support level. TRX needs to surpass the $0.0280 and $0.0285 resistance levels to start a fresh upward move. If it fails to move pas $0.0285, there is a risk of a downside move towards the $0.0265 support level.
Looking at the total cryptocurrency market cap hourly chart, there was a solid recovery above the $108.00B and $110.00B resistance levels. The market cap even broke the $112.00B resistance and tested the $114.00B zone, where sellers emerged. In the short term, there could be a downside correction, but there are many supports near $111.00B and $110.00B. Therefore, dips in bitcoin, Ethereum, EOS, ripple, LTC, bitcoin cash, XLM, TRX, and other altcoins remain supported.
The post Crypto Market Rebounds: Bitcoin Cash, EOS, Stellar (XLM), Tron (TRX) Price Analysis appeared first on NewsBTC.
source : newsbtc.com
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