- The total crypto market cap found support near $121.0B and later recovered above $124.0B.
- EOS price corrected lower sharply and traded below the $3.80 and $3.60 support levels.
- Bitcoin cash price is currently trading nicely above the $132 and $130 supports.
- Tron (TRX) price is under pressure below the $0.0250 and $0.0248 resistance levels.
- Cardano (ADA) price is currently holding the $0.0420 support area, with a positive angle.
Bitcoin Cash Price Analysis
Bitcoin cash price failed to stay above the $145 and $140 support levels against the US Dollar. The BCH/USD pair declined sharply and broke key supports near the $140 and $138 levels. However, the $130-132 zone acted as a support and later the price corrected higher.
It is currently up around 3.5% and it could retest the $140 resistance level. If there is an upside break above the $140 resistance, the price may perhaps revisit the $145 level. On the downside, the key supports are near $135 and $132.
EOS, Tron (TRX) and ADA Price Analysis
EOS price trimmed most of the last week’s gains from well above the $4.00 level. The price traded below the $3.85 and $3.80 support levels to start a bearish wave. The price even broke the $3.60 support level. At the moment, the price is trading above the $3.50 support and it seems like it could correct higher towards the $3.65 and $3.70 resistance levels.
Tron price remained in a bearish zone below the $0.0250 resistance level. There were mostly bearish moves in TRX and the price declined below the $0.0250 and $0.0248 support levels. It must stay above the $0.0240 level to avoid further losses in the near term.
Cardano price declined recently, but the $0.0400 support area acted as a barrier for buyers. ADA price is currently trading above the $0.0420 level and it seems like the price may rise towards the $0.0450 level in the coming sessions.
Looking at the total cryptocurrency market cap hourly chart, there was a sharp decline from well above the $138.0B level. The market cap broke the key $128.0B support to enter a bearish zone. It traded towards the $120.0B support level and later started an upside correction. However, there are many resistances on the upside near the $128.0B and $130.0B level. The main supports are at $124.0B and $122.0B. Therefore, if bitcoin, ETH, XRP, tron, bitcoin cash, litecoin, EOS, stellar, IOTA and other altcoins correct higher, they are likely to face a lot of hurdles.
The post Crypto Market Facing Uphill Task: EOS, Bitcoin Cash, TRX, ADA Price Analysis appeared first on NewsBTC.