Crypto Market Primed For More Gains: Bitcoin Cash, BNB, Litecoin, TRX Analysis
- The total crypto market cap climbed further higher above the $280.0B resistance area.
- Binance coin (BNB) price is up more than 5% and it is approaching the $35.00 resistance area.
- Litecoin (LTC) price is consolidating above the $130.00 support area.
- Bitcoin cash price is holding the $420 support and it could climb higher in the near term.
- Tron (TRX) price is slowly moving higher towards the $0.0350 and $0.0380 resistance levels.
The crypto market cap is gaining bullish momentum, with strong gains in bitcoin (BTC). Ethereum (ETH), BNB, litecoin, ripple, bitcoin cash, TRX, XLM and EOS remains supported for more gains.
Bitcoin Cash Price Analysis
There was a successful close above the $420 level in bitcoin cash price against the US Dollar. The BCH/USD pair made a couple of attempts to gain strength above $435, but it failed. The pair is currently consolidating above the $420 level and it could accelerate above the $430 and $435 levels in the near term.
Conversely, if there is a downside break below $420, the price is likely to retest the main $400 support level.
Binance Coin (BNB), Litecoin (LTC) and Tron (TRX) Price Analysis
Binance coin (BNB) price started a fresh increase after a nasty decline below the $32.00 support. BNB price is currently up more than 5% and it recently broke the $33.00 and $34.00 resistance levels. The next major resistance is near $35.00, above which there are chances of more upsides in the near term.
Litecoin price struggled to clear the $140.00 and $142.00 resistance levels. LTC price recently corrected lower, but it remained above the $130.00 support level. If there are more losses, the price might decline towards the $122.00 or $120.00 support area. On the upside, the main hurdles for the bulls are near $140.00 and $150.00.
Tron price settled above the $0.0320 level and it is slowly moving higher. TRX price is currently above $0.0330 and it is likely to test the $0.0350 resistance. The next key resistance is near the $0.0380 level. On the downside, the main support for buyers is near the $0.0320 level.
Looking at the total cryptocurrency market cap hourly chart, there were steady gains above the $265.0B and $270.0B levels. The market cap even broke the last swing high and recently climbed to a new monthly high above $280.0B. A swing high was formed near $281.0B and it is currently consolidating gains. On the downside, there are many supports near the $272.0B and $270.0B levels. Overall, there are chances of more gains and dips remain well supported in bitcoin, Ethereum, EOS, litecoin, ripple, binance coin, BCH, TRX, XMR, XLM and other altcoins in the near term.