Crypto Market Cap & Bitcoin Climbing Higher: BCH, Litecoin, ADA, TRX Analysis
- The total crypto market cap extended gains and broke the key $260.0B resistance area.
- Bitcoin price gained more than 3% and broke the $10,000 resistance area.
- Litecoin (LTC) price climbed higher and recently tested the $100.00 resistance area.
- BCH price is correcting gains and it could revisit the $315 support level.
- Tron (TRX) price is trading above the $0.0220 level and it could continue to rise in the near term.
- Cardano (ADA) price is struggling to settle above $0.0600 and it could retest the $0.0580 support.
The crypto market cap and bitcoin (BTC) are climbing higher steadily. Ethereum (ETH), LTC, BCH, EOS, cardano, ripple, TRX, XLM and BNB are likely to recover further.
Bitcoin Cash Price Analysis
Bitcoin cash price climbed higher recently above the $320 and $330 resistance levels against the US Dollar. BCH/USD traded close to the $340 resistance level and recently started a downside correction. It broke the $330 level and is now approaching the $320 support level.
On the downside, an initial support is near the $320 level. If there are more losses below $320, the price could revisit the $305 support level. An intermediate support is near the $315 level.
Cardano (ADA), Litecoin (LTC) and Tron (TRX) Price Analysis
Litecoin price gained bullish momentum and climbed above the $92.00 and $95.00 resistance levels. LTC price even tested the $100.00 resistance and it is currently correcting gains. On the downside, the previous resistances near $95.00 and $92.00 are likely to act as strong supports in the near term.
Tron price managed to settle above the $0.0220 level and it is currently consolidating in a range. On the upside, there are many resistances near the $0.0250, $0.0280 and $0.0300. On the downside, a break below $0.0220 might push the price back towards the $0.0210 support
Cardano price struggled on many occasions to gain strength above $0.0600 and $0.0610. ADA price is currently below $0.0600 and it could test the $0.0580 support level. On the upside, a proper follow though above $0.0610 might push the price towards the $0.0650 level.
Looking at the total cryptocurrency market cap 4-hours chart, there was a decent recovery above the $255.0B and $260.0B resistance levels. More importantly, the market cap climbed above a major bearish trend line near the $260.0B level. The next key resistance is near the $270.0B level, above which the market cap is likely to rise steadily towards the $290.0B and $300.0B resistance levels. On the downside, the main support is near the $248.0B level. Overall, it seems like there are chances of more gains in bitcoin, Ethereum, EOS, litecoin, ripple, ADA, BCH, TRX, ICX, XLM and other altcoins in the short term.
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Aayush Jindal, Khareem Sudlow