- The total crypto market cap is gaining momentum above the $175.0B resistance level.
- Bitcoin price rallied more than 3.5% and climbed above the $5,550 resistance.
- Bitcoin cash price is currently placed nicely above the $270 support level.
- EOS price is back above the $4.80 level and it may test the $4.90 resistance.
- Stellar (XLM) price is likely to gain momentum above the $0.1000 resistance level.
- Tron (TRX) is still struggling to clear the $0.0242 and $0.0245 resistance levels.
Bitcoin Cash Price Analysis
Bitcoin cash price formed a decent support base and recently climbed above the $262 and $265 resistance levels against the US Dollar. The BCH/USD pair even broke the $270 level and it looks set to gain momentum above the $275 resistance level in the near term.
A clear break above the $275 and $280 resistance levels may open the doors for a sharp upward move in the near term. The next key resistance is near the $300 level, and the main support on the downside is at $260.
Stellar (XLM), EOS and Tron (TRX) Price Analysis
EOS price bounced back above the $4.75 and $4.80 resistance levels to move into a positive zone. It seems like the price may continue to rise and it could test the $4.90 or even $4.95 resistance. The crucial hurdle for the bulls is near the $5.00 level.
Stellar price is slowly moving higher and it is currently near the $0.0990 level. XLM price is likely to climb above the $0.1000 and $0.1020 resistance levels in the near term. On the downside, an initial support is at $0.0980, followed by the $0.0960 level.
Tron price is currently consolidating, but it is still below the key $0.0242 and $0.0245 resistance levels. TRX price must clear the $0.0245 resistance level to start a strong upward move. The main support on the downside is near the $0.0235 and $0.0232 levels.
Looking at the total cryptocurrency market cap hourly chart, there was a strong upward move above the $170.0B and $172.0B resistance levels. The market cap even broke a contracting triangle resistance near the $174.0B resistance. It climbed above the $175.0B level and it seems like there could be more upsides towards the $180.0B resistance level. If there is a downside correction, the market cap is likely to find support near the $175.0B or $174.0B level. Overall, the trend is very positive for bitcoin, Ethereum, EOS, ripple, litecoin, bitcoin cash, XLM, TRX, BNB, WAN, WTC, ICX, and other altcoins.