Crypto Market Gaining Momentum: Bitcoin Cash, EOS, TRX, ADA Analysis
- The total crypto market cap is currently placed nicely above the $260.0B support area.
- Bitcoin price remains in a strong uptrend and it recently spiked towards $9,000.
- EOS price surged more than 15% and tested the key $8.00 resistance area.
- Bitcoin cash price is currently trading in a range below the $445 and $450 resistance levels.
- Tron (TRX) price is up more than 10% and it recently broke the $0.0350 resistance.
- Cardano (ADA) price is slowly climbing higher towards the $0.0920 and $0.0950 resistance levels.
The crypto market cap, bitcoin (BTC), Ethereum (ETH), EOS, and Tron (TRX) are surging higher. BCH, ripple, ADA, BNB, and other altcoins are likely to accelerate higher.
Bitcoin Cash Price Analysis
There were strong gains in bitcoin cash price above the $400 and $420 levels against the US Dollar. The BCH/USD pair even broke the $440 level, but it struggled to gain strength above the $445 and $450 resistance levels. If there is an upside break above the $450 level, there could be strong gains in the near term.
On the downside, there are a few supports near the $435 and $430 levels. If there is an extended downside correction, the price may find bids near the $420 level.
EOS, Tron (TRX) and ADA Price Analysis
EOS price performed really well recently and it rallied significantly after it broke the key $7.00 barrier. The price is up more than 15% and it recently cleared the $7.50 and $7.80 resistance levels. It tested the $8.00-8.10 resistance area and it is currently consolidating gains.
Tron price is gaining bullish momentum and it recently climbed above the key $0.0300 resistance. TRX price is up more than 10% and it even surpassed the $0.0350 resistance. The current price action is positive and it seems like the price may continue to rise in the near term. The next targets could be $0.0385 and $0.0400.
Cardano price is currently placed nicely above the $0.0800 support. ADA price is slowly moving higher and it may soon clear the $0.0900 resistance. However, a clear break above the $0.0920 and $0.0950 resistance levels is needed for continuous gains and a break above the key $0.1000 resistance.
Looking at the total cryptocurrency market cap hourly chart, there was a solid upward move above the$250.0B and $260.0B resistance levels. The market cap recently tested the $267.0B level and it is currently following a rising channel with support near the $259.0B level. On the downside, there are many supports near the $255.0B and $250.0B levels. Therefore, there are chances of more upsides in in bitcoin, ETH, XRP, TRX, ADA, bitcoin cash, litecoin, EOS, stellar, IOTA, ICX, WAN, and other altcoins in the near term.