Crypto Market Update: Bitcoin Cash, EOS, Stellar (XLM), Tron (TRX) Price Analysis
- The total crypto market cap is placed nicely above the $115.00B support level.
- Bitcoin cash is showing positive signs and it could recover above $130 and $132.
- EOS price is slowly moving higher towards $2.50, with a bullish angle.
- Stellar (XLM) is moving lower towards the all-important $0.1000 support level.
- Tron (TRX) is up more than 2% and it seems like it could soon test the $0.0285 level.
The crypto market is consolidating above key supports. Bitcoin (BTC), BCH, Ethereum, EOS, ripple, stellar (XLM), tron (TRX) and other major altcoins remain supported.
Bitcoin Cash Price Analysis
BCH (Bitcoin cash price) corrected lower recently and tested the $125 support, where buyers emerged. BCH/USD is currently moving higher and it may soon break the $130 and $132 resistance levels. However, a successful break above the $135 resistance is must for a sustained upward move.
On the downside, an initial support is at $128, below which the price may revisit the $125 support, which holds a lot of importance in the short term.
EOS, Stellar (XLM) and Tron (TRX) Price Analysis
EOS price is placed nicely in a positive zone above the $2.40 and $2.42 support levels. The price may continue to grind higher and it is likely to break the $2.50 and $2.52 resistance levels.
Stellar price is slightly under pressure as it broke the $0.1020 support level. If XLM remains under pressure, there are high chances of a drop towards the $0.1000 support level in the coming sessions.
Tron price is showing a lot of positive signs above the $0.0250 support level. TRX is currently up more than 2% and it seems like buyers are looking for a test of the $0.0285 and $0.0290 resistance levels. On the downside, the key supports are at $0.0265 and $0.0255.
Looking at the total cryptocurrency market cap hourly chart, there is a strong support formed near the $115.00B level and a bullish trend line. However, a break above the $117.50B and $119.00B levels is must for a sustained upward move. Therefore, the next few sessions could be crucial for bitcoin, Ethereum, EOS, ripple, litecoin, BCH, XLM, TRX, and other altcoins.