- The total crypto market cap is slowly recovering towards the key $110.00B resistance level.
- Stellar (XLM) price settled below the $0.1000 support level, with a bearish angle.
- Bitcoin cash price recovered around 3% and moved above the $112 resistance.
- Tron (TRX) tested the $0.0270 support and recovered a few points.
- Cardano (ADA) price found support and it seems like it could test the $0.0395 resistance level.
Bitcoin Cash Price Analysis
After trading below the $110 support, bitcoin cash found support against the US Dollar. BCH/USD started a short term upside correction and moved above the $110 and $112 levels. However, there are many hurdles on the upside near the $115 and $116 resistance levels.
On the downside, the most important support is near the $110 level, below which there is a risk of more losses towards the $105 support level.
Stellar (XLM), Tron (TRX) and ADA Price Analysis
Stellar price was under a lot of pressure recently as it broke the key $0.1000 support level. XLM even traded below the $0.0900 support and traded close to the $0.0800 level. It is currently consolidating losses with bearish moves below $0.0900.
Tron price found support near the $0.0270 level and later recovered. TRX price is up more than 3% and it seems like it may rise towards the $0.0285 and $0.0290 resistance levels in the near term.
Cardano price traded towards the $0.0365 support level and later corrected higher. ADA price is currently trading above the $0.0385 level and it could continue to move higher towards the $0.0395 and $0.0400 levels.
Looking at the total cryptocurrency market cap hourly chart, the $106.5B level acted as a strong support. The market started a decent recovery and moved above the $107.00B and $108.00B levels. However, there is a strong resistance formed near $110.00B and a bearish trend line on the same chart. A proper break above $110.00B is needed for more gains towards $115.00B. If not, bitcoin, Ethereum, EOS, stellar, LTC, EOS, ripple, TRX and other altcoins could resume the decline.
The post Crypto Market Update: Stellar (XLM), Bitcoin Cash, Tron (TRX), ADA Price Analysis appeared first on NewsBTC.
source : newsbtc.com
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