Crypto Market And Bitcoin Primed For Gains: BNB, BCH, LTC, EOS Analysis
- The total crypto market cap broke the key $220.0B resistance to move into a positive zone.
- Bitcoin price is now trading nicely above the main $8,500 resistance area.
- Litecoin (LTC) price is still facing a strong resistance near the $60.00 level.
- BCH price is testing the $235 area and is facing a major barrier near the $240 level.
- EOS price traded to a new weekly high above $3.300 and it is currently consolidating gains.
- Binance coin (BNB) rallied more than 10% and broke the key $17.50 resistance area.
Bitcoin (BTC) and the crypto market cap jumped more than 5%. Many altcoins such as Ethereum (ETH), binance coin (BNB), ripple, litecoin, BCH, EOS, TRX, and ADA are showing positive signs.
Bitcoin Cash Price Analysis
In the past two days, bitcoin cash price traded nicely above the $220 support area against the US Dollar. However, the BCH/USD pair seems to be facing a strong resistance near the $235 and $240 levels. A successful close above the $240 level might push the price towards the $250 and $265 levels.
On the downside, the main support is near the $220 level, below which the price could move towards the $205 and $200 support levels.
Binance Coin (BNB), Litecoin (LTC) and EOS Price Analysis
Binance coin (BNB) price is gaining bullish momentum above the $16.50 and $17.50 resistance levels. BNB price is up more than 10% and it even tested the $18.00 resistance. It is currently correcting lower, but the $17.50 level might act as a strong support. On the upside, a break above $18.00 might push the price towards $18.80.
Litecoin price is holding the $55.00 support area. However, LTC price seems to be facing a strong resistance near the $60.00 level. Therefore, a successful daily close above the $60.00 barrier could start a solid increase in the near term. The next key resistances are near $65.00 and $68.00.
EOS price climbed further higher above the $3.200 resistance. It tested the $3.300 level and is currently consolidating gains. On the downside, there are many supports near the $3.200 and $3.150 levels.
Looking at the total cryptocurrency market cap hourly chart, there was a successful bullish break above the key $218.0B and $220.0B resistance levels. The market cap climbed towards the $225.0B level and settled above the 100 SMA. It is currently consolidating gains and any downside correction is likely to find support near the previous resistance at $220.0B. On the upside, the main resistances are now near $230.0B and $232.0B. Overall, dips remain well supported in bitcoin, Ethereum, EOS, litecoin, ripple, ADA, BCH, XLM, BNB, TRX, XMR, and other altcoins.
The post Crypto Market And Bitcoin Primed For Gains: BNB, BCH, LTC, EOS Analysis appeared first on NewsBTC.
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Aayush Jindal, Khareem Sudlow