Crypto Market Could Rally Further: EOS, Bitcoin Cash, TRX, ADA Price Analysis
- 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.
The crypto market is primed for more gains, with bullish moves in bitcoin (BTC) and Ethereum (ETH). EOS, BCH, ripple, tron (TRX), ADA and other altcoins are likely to accelerate higher.
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.