Bitcoin And Crypto Market Cap Remains Supported: BCH, XLM, EOS, TRX Analysis
- The total crypto market cap is currently consolidating gains below the $265.0B resistance area.
- Bitcoin price corrected gains, but it is still trading above the $10,500 support area.
- BCH price is struggling to move above the $300 resistance and is currently correcting gains.
- EOS price is currently consolidating gains near the $3.300 support area.
- Stellar (XLM) price is struggling to continue higher above the $0.0625 and $0.0640 resistances.
- Tron (TRX) price is still well below the main $0.01600 resistance area.
Bitcoin Cash Price Analysis
Recently, we saw a nice upward move in BCH price above the $290 resistance levels against the US Dollar. However, the BCH/USD pair struggled to continue higher and failed to surpass the $300 and $305 resistance levels. As a result, there was a downside correction below $295 and the price is currently sliding towards the $290 level.
To continue higher, the price must break the $300 and $305 resistance levels. If not, the price is likely to revisit the $280 support area in the near term.
Stellar (XLM), EOS and Tron (TRX) Price Analysis
EOS price recovered recently above the $3.350 resistance level. However, the price faced a strong selling interest near the $3.450 and $3.500 levels. As a result, there was a downside correction below $3.400 and the price is currently consolidating near the $3.300 level. The next key support is near the $3.200 level.
Stellar price is remained confined in a range and failed to climb above the $0.0640 and $0.0650 resistance levels. On the downside, the main support is near the $0.0600 level, below which XLM price is likely to decline towards the $0.0550 level in the near term.
Tron price seems to be in a long consolidation mode above the $0.0150 support level. On the upside, there are many important resistances forming near the $0.0158 and $0.0160 levels. A successful close above the $0.0160 level is needed for a sustained upward move in the coming days.
Looking at the total cryptocurrency market cap 4-hours chart, there was a steady rise above the $240.0B and $250.0B resistance levels. It opened the doors for more gains above $255.0B, but the $265.0B level acted as a strong resistance. The market cap made two attempts to surpass the $265.0B resistance level, but it failed to continue higher. At the moment, the market cap is consolidating below $265.0B, with many supports on the downside near the $255.0B and $250.0B levels. Therefore, there are chances of a fresh increase in bitcoin, Ethereum, EOS, ripple, litecoin, bitcoin cash, XLM, TRX, BNB, WAN, WTC, ICX, and other altcoins in the near term.
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