Crypto Market Surging Towards $200 Billion: Bitcoin Cash, EOS, ADA, TRX Analysis
- The total crypto market cap jumped above the $185.0B level and gaining pace.
- There was a strong rally in bitcoin price as it traded close to the $6,000 level.
- EOS price is up around 5% and it seems like it could soon break the $5.00 and $5.05 resistances.
- Bitcoin cash price is gaining pace and it might clear the $300 barrier once again.
- Tron (TRX) price is up more than 5% and it recently broke the $0.0242 resistance.
- Cardano (ADA) price bounced back and it is likely to surpass the $0.0700 resistance.
The crypto market cap, bitcoin (BTC), and Ethereum (ETH) are surging higher. EOS, BCH, ripple, tron (TRX), ADA, BNB, and other altcoins might climb higher in the near term.
Bitcoin Cash Price Analysis
After a downside correction, bitcoin cash price found support near the $270 level against the US Dollar. As a result, the BCH/USD pair started a fresh increase and broke the $280 and $285 resistance levels. The price is now trading near the $295 level and it seems like it could surge above the $300 level in the near term.
The next key resistances are near $310 and $312. On the downside, the $290 level might act as a strong support and a buy zone in the near term.
EOS, Tron (TRX) and ADA Price Analysis
EOS price tested the $4.700 level recently and bounced back. The price is up more than 5% and it seems like it could gain pace above the $5.00 barrier. The next key resistances are near the $5.05 and $5.08 levels. On the downside, the $4.85 level is the main support for the bulls.
Tron price finally formed a decent support base near the $0.0230 level and recently climbed higher. TRX price is up more than 5% and it broke the $0.0240 and $0.0242 resistances. A clear break above the $0.0245 barrier is likely to start a solid upward move towards the $0.0270 and $0.0285 levels.
Cardano price is currently recovering and it recently climbed above the $0.0650 level. ADA price must clear the $0.0685 and $0.0690 levels to move into a positive zone. However, a successful close above $0.0700 could only start a strong upward move in the near term.
Looking at the total cryptocurrency market cap hourly chart, there was a steady rise above the $175.0B and $178.0B resistance levels. After a minor downside correction, the market cap bounced back above $180.0B resistance and a bearish trend line. It climbed to a new monthly high close to $190.0B and it seems like there could be more upsides towards the $200.0B resistance level. Therefore, there are chances of more gains in bitcoin, ETH, XRP, TRX, ADA, bitcoin cash, litecoin, EOS, stellar, IOTA, ICX, WAN, and other altcoins in the near term.
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