Crypto Market Could Extend Gains: EOS, Bitcoin Cash, Tron (TRX), ADA Price Analysis

  • The total crypto market cap gained momentum and broke the $ 118.0B resistance level.
  • EOS price broke the $ 2.85 resistance and it is currently approaching the $ 3.00 resistance.
  • Bitcoin cash price is up more than 5% and it could soon test the $ 130 level.
  • Tron (TRX) price is facing a strong resistance near the $ 0.0250 and $ 0.0255 levels.
  • Cardano (ADA) price rallied and broke the $ 0.0400 and $ 0.0420 resistance levels.

The crypto market gained bullish momentum, with gains in bitcoin (BTC) and Ethereum (ETH). EOS, BCH, ripple, tron, ADA and other altcoins are also placed nicely above key supports.

Bitcoin Cash Price Analysis

Bitcoin cash price formed a decent support near the $ 120 level against the US Dollar. The BCH/USD pair started a fresh upward move and it recently broke the $ 124 and $ 125 resistance levels. The pair is now trading above the $ 128 level and it seems like it could soon test the $ 130 level.

Above $ 130, the next key resistance is near the $ 135 level, where sellers might appear. On the downside, the previous resistance near the $ 125 level may act as a support if there is a downside correction.

EOS, Tron (TRX) and ADA Price Analysis

EOS price traded with a lot of bullish moves in the past few days above the $ 2.55 resistance. The price recently broke the $ 2.80 and $ 2.85 resistance levels to move into a bullish zone. It seems like the price might continue to move higher above the $ 3.00 resistance. On the downside, an initial support is at $ 2.90, below which the price could test the $ 2.85 level.

Tron price settled below the $ 0.0255 support this past week, with a few bearish moves. TRX price is currently consolidating above the $ 0.0240 support, but it is facing a strong resistance near the $ 0.0250 and $ 0.0255 levels.

Cardano price is up more than 4% and it settled above the $ 0.0400 resistance level. ADA price recently broke the $ 0.0420 resistance, opening the doors for more gains. If buyers remain in action, there are chances of a push towards the $ 0.0450 resistance in the near term.

Crypto Market Cap Bitcoin BCH EOS TRON ADA

Looking at the total cryptocurrency market cap hourly chart, there was a decent support formed near the $ 115.0B and $ 116.0B levels. The market cap started a strong upward move and broke the $ 118.0B and $ 120.0B resistance levels. It traded close to the $ 124.0B level and it is currently consolidating gains. It seems like there could be a minor dip, but the $ 120.0B level is likely to act as a strong support. Therefore, if there is a downside correction, bitcoin, ETH, XRP, tron, bitcoin cash, litecoin, EOS, stellar, IOTA and other altcoins could find buyers.

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Analysis – NewsBTC

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