- The total crypto market cap is preparing for more gains above the $132.5B resistance level.
- EOS price gained more than 7% recently and broke the $3.80 and $3.85 resistances.
- Bitcoin cash price is consolidating below the key $150 resistance level.
- Tron (TRX) price moved back above the $0.0250 resistance, but there was no follow through.
- Cardano (ADA) price is grinding higher and it could soon test the key $0.0500 resistance area.
Bitcoin Cash Price Analysis
Bitcoin cash price remained well bid above the $142 and $145 support levels against the US Dollar. The BCH/USD pair tested the $150 resistance level recently and later declined. However, the $145 support acted as a solid buy zone and later the price bounced back.
The price needs to gain strength above the $148 and $150 resistance levels to move further higher in the coming sessions. In the mentioned case, the price could revisit the $160 resistance zone.
EOS, Tron (TRX) and ADA Price Analysis
EOS price performed really well recently after it corrected lower from the $3.00 resistance. The price found support above the $2.70 support level and later bounced back. It is up more than 7% and moved above the $2.80 and $2.85 resistance levels. An immediate resistance is at $2.92, above which the price could test the $3.00 resistance zone in the near term. The key supports on the downside are $2.82 and $2.80.
Tron price moved to and fro between the $0.0240 and $0.0255 levels. TRX price is currently traded above the $0.0250 resistance, but it must break the $0.0255 resistance to gain strength. The next main resistance is at 0.0262 and $0.0265.
Cardano price remained well bid above the $0.0420 support area. ADA price recently broke the $0.0450 and $0.0465 resistance levels to set the pace for more gains. The current price action is positive and it seems like the price could continue to move higher towards the $0.0500 resistance area in the near term.
Looking at the total cryptocurrency market cap hourly chart, there is a solid uptrend in place above the $125.0B support area. The market recently corrected lower and tested the $127.00B level. Later, it bounced back above $130.0B and it seems like it could break the $131.0B and $132.5B resistance levels in the next few hours. If buyers gain strength, the market cap could surge towards the $135.0B and $140.0B levels. Therefore, there could be more upsides in bitcoin, ETH, XRP, tron, bitcoin cash, litecoin, EOS, stellar, IOTA and other altcoins.
The post Crypto Market Could Rally Further: EOS, Bitcoin Cash, TRX, ADA Price Analysis appeared first on NewsBTC.