Crypto Market And Bitcoin Starts Fresh Rally: BCH, BNB, EOS, TRX Analysis
- The total crypto market cap jumped sharply and broke the key $325.0B resistance area.
- Bitcoin price is up more than 10% and it recently broke the $12,500 resistance level.
- EOS price is showing positive signs and it recently broke the $6.00 resistance area.
- Binance Coin (BNB) broke the $33.00 resistance and it is currently consolidating in a range.
- BCH price is up more than 4% and it broke the $420 and $425 resistance levels.
- Tron (TRX) price is currently correcting yesterday’s gains, but remains supported near $0.0330
Bitcoin and the crypto market cap started a strong upward move. Ethereum (ETH), binance coin (BNB), BCH, tron (TRX), litecoin, ripple, and EOS are likely to gain bullish momentum.
Bitcoin Cash Price Analysis
After settling above the $400 level, BCH price consolidated in a range for a few sessions against the US Dollar. The BCH/USD pair started a fresh rise and recently managed to clear the $415 and $420 resistance levels. The price is now trading above the $425 level and it could continue to rise.
On the upside, the next key resistance is near the $440 level, above which the price could easily test the $450 resistance level in the near term.
Binance Coin (BNB), EOS, Tron (TRX) Price Analysis
EOS price formed a decent support near the $5.850 level and recently climbed above the $5.950 and $6.000 resistance levels. The price now needs to break the $6.080 and $6.100 resistance levels to start a strong rise in the coming sessions. The next key resistance on the upside is near the $6.280 level.
Tron price rallied more than 10% yesterday and tested the $0.0360 level. However, TRX price failed to continue higher and recently corrected below the $0.0350 and $0.0342 support levels. The price is now trading near the $0.0330 support level and it might soon start a fresh increase in the near term.
Binance coin (BNB) consolidated above the $32.50 support level for a few sessions. Finally, BNB price climbed higher and broke the key $33.00 resistance level. The price is now trading well above the $33.20 level and it may soon test the $34.00 and $34.50 levels.
Looking at the total cryptocurrency market cap 4-hours chart, there was a steady rise above the $310.0B resistance level. The market cap recently gained bullish momentum and broke the key $325.0B resistance level plus a contracting triangle near the $318.0B level. It opened the doors for more gains and the cap rallied above the $340.0B level. It seems like there could be more upsides towards the $350.0B level in the coming sessions. Therefore, bitcoin, Ethereum, TRX, LTC, EOS, ripple, ADA, XLM, WTC, BCH, and ICX are likely to gain further.
The post Crypto Market And Bitcoin Starts Fresh Rally: BCH, BNB, EOS, TRX Analysis appeared first on NewsBTC.
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Aayush Jindal, Khareem Sudlow