Crypto Market Update: EOS, Bitcoin Cash, Tron (TRX), ADA Price Analysis
- The total crypto market cap rallied and settled above the $115.0B resistance area.
- EOS price broke the $2.50 and $2.65 resistance area to place itself in a positive zone.
- Bitcoin cash price settled above the $120 resistance area, with a bullish angle.
- Tron (TRX) price traded above the $0.0250 and $0.0255 resistance levels.
- Cardano (ADA) price surged higher and broke the $0.0380 and $0.0400 resistance levels.
The crypto market recovered nicely and it is now correcting gains. Bitcoin (BTC), Ethereum (ETH). EOS, BCH, ripple, tron, ADA and other altcoins remain supported on dips.
Bitcoin Cash Price Analysis
Bitcoin cash price made a strong upward move and traded above the $120 and $122 resistance levels against the US Dollar. BCH/USD even broke the $125 resistance and it is currently consolidating gains. In the short term, there could be a downside correction, but dips remain supported above $120.
On the upside, a break above the $126 and $128 resistance levels could open the doors for an acceleration towards the $135 and $140 levels.
EOS, Tron (TRX) and ADA Price Analysis
EOS price finally broke the $2.50 and $2.55 resistance levels, resulting in a sharp upward move. The price rallied above the $2.60 and $2.70 resistance levels. The next key resistances are near the $2.82 and $2.90 levels.
Tron price climbed higher and broke the $0.0250 resistance level. TRX price is currently trading above the $0.0255 level, with a few signs of a downside correction in the near term.
Cardano price performed really well and traded above many resistances near the $0.0370 and $0.0400 levels. ADA price is currently trading above the $0.0410 level and it seems like the price might accelerate higher.
Looking at the total cryptocurrency market cap hourly chart, there was a strong upward move above the $112.0B and $115.0B resistance levels. The market cap moved close to the $122.0B level and later corrected lower. On the downside, there are many supports near the $116.0B and $115.0B levels. Therefore, if there is a downside correction, there are chances of buyers protecting losses in bitcoin, ETH, XRP, tron, litecoin, EOS, stellar, IOTA and other altcoins in the coming sessions.