Crypto Market Eyes Additional Gains: BNB, EOS, Bitcoin Cash, Tron (TRX) Analysis

  • The total crypto market cap traded towards the $132.5B level and later corrected lower.
  • EOS price traded above the $3.50 resistance and it is currently consolidating gains.
  • Binance Coin (BNB) rallied more than 10% and broke the $10.00 resistance area.
  • Bitcoin cash price is placed nicely above the $140 support, with a bullish bias.
  • Tron (TRX) price failed to stay above the $0.0250 support and later declined.

The crypto market started a downside correction, but it remains supported. Dips in bitcoin (BTC), Ethereum (ETH), Binance coin (BNB), BCH, ripple, EOS, TRX and ADA are likely to find buyers.

Bitcoin Cash Price Analysis

Bitcoin cash price gained traction recently and broke the $135 and $140 resistances against the US Dollar. The BCH/USD pair even traded above the $145 level and later started a downside correction. On the downside, the key supports are near $142 and $140, below which the price might test the $135 support.

On the upside, an initial resistance is near the $145 level, above which the next hurdle for buyers is at $148 and $150. In the short term, there could be range moves, but the price is likely to gain further above $145.

EOS, Tron (TRX) and BNB Price Analysis

EOS price gained a strong bullish momentum above the $3.00 resistance area. It broke the $3.25 and $3.50 resistance levels to register heavy gains. At the moment, the price is consolidating above the $3.50 support, with resistances near the $3.62 and $3.70 levels.

Tron price moved above the $0.0250 resistance level, but it failed to hold gains. TRX price topped below the $0.0255 resistance and later declined below the $0.0250 support. The price is down more than 2% and it seems like it could retest the $0.0245 support area in the near term.

Binance coin (BNB) rallied recently above the $9.50 and $10.00 resistance levels. BNB price gained more than 10% and even surpassed the $10.50 resistance. The next major hurdle for buyers is near the $11.00 level, above which the price might eye a test of the $12.00 level.

Looking at the total cryptocurrency market cap hourly chart, there was a strong upward move above the $120.0B and $125.0B resistance levels. The market cap even broke the $130.0B resistance level and tested the $132.5B level, where it faced resistance. Later, it started a downside correction and declined below $130.0B. However, there are many supports near $126.0B, $125.0B, and a bullish trend line on the same chart. Therefore, as long as the market cap is above $125.0B, dips in bitcoin, ETH, tron, litecoin, EOS, ripple, ADA, stellar, BNB, BCH, XMR and other altcoins remain supported in the coming sessions.

The post Crypto Market Eyes Additional Gains: BNB, EOS, Bitcoin Cash, Tron (TRX) Analysis appeared first on NewsBTC.

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