Bitcoin, Crypto Market Climbing Higher: BCH, BNB, LTC, TRX Analysis
- The total crypto market cap followed a bullish path and settled above the $330.0B resistance.
- Bitcoin price remained in an uptrend and it recently broke the key $13,000 resistance area.
- Binance coin (BNB) price struggled to stay above $33.00 and recently declined to $32.00.
- Litecoin (LTC) price is still trading below the key $122 and $124 resistance levels.
- BCH price failed to gain strength above $425 and recently corrected towards $415.
- Tron (TRX) price is moving higher once again and it could revisit $0.0350.
The crypto market cap and bitcoin (BTC) are climbing higher steadily. Whereas, Ethereum (ETH), BNB, litecoin, ripple, BCH, TRX, XLM and EOS are struggling to gain bullish momentum.
Bitcoin Cash Price Analysis
There was a slow and steady rise in BCH price above the $420 level against the US Dollar. The BCH/USD pair tested the $425 resistance level, but it struggled to continue higher. Recently, it corrected lower below $420 and revisited the $115 support area.
If there are more losses, the price may perhaps revisit the $405 and $400 support levels. On the upside, a convincing break above the $425 resistance is needed for more gains.
Binance Coin (BNB), Litecoin (LTC) and Tron (TRX) Price Analysis
Binance coin (BNB) price attempted a bullish break above the $33.50 resistance level, but it failed. BNB price started a downside correction and traded below the $33.00 and $32.50 support levels. It is now trading near the $32.00 level, below which it could even test the $31.20 support area.
Litecoin price traded above the $120 level recently, but it faced a strong resistance near the $124 and $125 levels. LTC price trimmed gains and it is currently trading below the $120 level. If there are more losses, the price may perhaps revisit the $115 support area in the near term.
Tron price started a sharp downside correction after it rallied towards the $0.0360 level. TRX price found support near the $0.0330 level and it is currently moving higher. It seems like the price may soon break $0.0340 and it could even revisit the $0.0350 resistance.
Looking at the total cryptocurrency market cap hourly chart, there was a strong upward move above the $325.0B and $330.0B resistance levels. The market cap even broke the $340.0B level and it recently climbed towards $348.0B. It seems like the market cap is following a nice bullish path and it may perhaps climb above the $350.0B resistance area. On the downside, there are many supports near the $335.0B and $332.0B levels. Only a close below the $330.0B level might push bitcoin, Ethereum, EOS, litecoin, ripple, binance coin, BCH, TRX, XMR, XLM and other altcoins lower in the near term.
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Aayush Jindal, Khareem Sudlow