- The total crypto market cap surged further and tested the key $250.0B resistance level.
- Bitcoin price is currently consolidating above the $8,000 and $8,100 support levels.
- Bitcoin cash price surged above the $400 and $425 resistance levels.
- EOS price is up more than 10% and it recently cleared the key $6.50 barrier.
- Stellar (XLM) price rallied more than 25% and broke many hurdles near $0.1300 and $0.1400.
- Tron (TRX) also joined the party and broke the key $0.0250 and $0.0300 resistance levels.
Bitcoin Cash Price Analysis
Bitcoin cash price corrected lower yesterday and tested the $380 and $385 support levels against the US Dollar. A support base was formed and the BCH/USD pair started a fresh increase above the $395 and $400 resistance levels. The upward move was strong as the price even broke the $425 resistance.
The price traded close to the $435 level and it is currently consolidating gains near $430. An initial support is at $425, below which the price may perhaps correct towards the $410 support area.
Stellar (XLM), EOS and Tron (TRX) Price Analysis
EOS price is up more than 10% today and it recently broke a few important resistances near the $6.50 and $6.60 levels. The price gained pace above $6.70 and it seems like it could continue to rise towards the main $7.00 resistance area.
Stellar price performed realty well and it gained more than 25% recently. XLM price broke the main $0.1200 and $0.1300 resistance levels to start a significant uptrend. The upward move was such that the price even broke the $0.1500 barrier. The next key resistances are near $0.1550 and $0.1600.
Tron price also started a decent upward move after it broke the key $0.0250 resistance. TRX price is up more than 12% and it climbed above the $0.0300 resistance. The next key resistance for the bulls is near the $0.0340 level.
Looking at the total cryptocurrency market cap hourly chart, there were steady gains above the $220.0B and $225.0B resistance levels. The upward move was such that the price market cap even broke the $250.0B level (as discussed in yesterday’s analysis). The current structure is positive and suggests more upsides above the $250.0B and $255.0B levels in the coming sessions. On the downside, the main support for the bulls is near the $245.0B and $242.0B levels. Overall, the crypto market is clearly in a strong uptrend and there could be more gains in bitcoin, Ethereum, EOS, ripple, litecoin, bitcoin cash, XLM, TRX, BNB, WAN, WTC, ICX, and other altcoins.