Crypto Market Holding Key Support: Bitcoin Cash, Litecoin (LTC), ADA, TRX Analysis
- The total crypto market cap is currently above the key $225.0B and $230.0B support levels.
- Bitcoin price seems to be struggling to clear the $8,000 barrier and is trading in a range.
- Litecoin (LTC) price is currently consolidating above $90.00, with resistances near $92.00 and $95.00.
- Bitcoin cash price settled above the $400 resistance area after a strong recovery from $350.
- Tron (TRX) price is slowly grinding higher towards the key $0.0300 resistance area.
- Cardano (ADA) price is facing a strong resistance near the $0.0850 and $0.0880 levels.
The crypto market cap is moving in a range, with a few bearish moves in bitcoin (BTC) and Ethereum (ETH). LTC, BCH, EOS, cardano, ripple, TRX, XLM and BNB are holding key supports.
Bitcoin Cash Price Analysis
Bitcoin cash price rebounded sharply from $350 and climbed above the $380, $390 and $400 resistance levels against the US Dollar. BCH/USD settled above the $400 level and it is currently consolidating in a range. On the upside, an initial resistance is near the $410 level, followed by $415.
If there is a follow through above $415, the price is likely to test the $430 and $440 levels. On the downside, a break below the $400 support level may perhaps spark a fresh drop towards the $385 support.
Cardano (ADA), Litecoin (LTC) and Tron (TRX) Price Analysis
Litecoin price recovered nicely above the $85 and $88 resistance levels. LTC price broke the $90 level and it seems to be trading in a range. An initial hurdle for the bulls is near $92, above which the price could test $95. On the downside, the main supports are $90 and $85.
Tron price is holding the $0.0265 and $0.0270 support levels. TRX price is currently moving higher, but it is facing a strong resistance near the $0.0292, $0.0295 and $0.0300 levels. A clear break above $0.0300 could set the tone for more gains.
Cardano price corrected lower sharply, but it recently bounced back above the $0.0800 level. ADA price is currently trading near $0.0840, with an immediate resistance near $0.0850. The next key resistances are $0.0880 and $0.0900.
Looking at the total cryptocurrency market cap 4-hours chart, there are many supports on the downside near the $231.0B, $230.0B, $228.0B and $225.0B levels. There is also a strong bullish trend line forming with support near the $222.0B level. As long as the market cap is above the trend line support, it is likely to climb higher towards the $245.0B level. The main resistance on the upside is near $250.0B. Overall, there are high chances of more upsides in bitcoin, Ethereum, EOS, litecoin, ripple, ADA, BCH, TRX, ICX, XLM and other altcoins in the near term.
The post Crypto Market Holding Key Support: Bitcoin Cash, Litecoin (LTC), ADA, TRX Analysis appeared first on NewsBTC.
OhNoCrypto via https://www.ohnocrypto.com/ @Aayush Jindal, @Khareem Sudlow