Crypto Market Cap And Bitcoin Climb Higher: BCH, BSV, BNB, ADA Analysis
- The total crypto market cap is attempting to surpass a major resistance near the $216.0B level.
- Bitcoin price is correcting gains and is trading below the $8,200 level.
- BCH price is up more than 3% and is recently surpassed the $230 resistance.
- BSV price rallied more than 15% and it broke the key $110 resistance area.
- Binance Coin (BNB) is currently consolidating gains above the $18.00 support area.
- Cardano (ADA) price is up 3% and it surpassed the main $0.0400 resistance area.
Bitcoin Cash Price Analysis
After forming a base above the $205 support area, BCH price started a fresh increase against the US Dollar. The BCH/USD pair is up more than 3% and it recently climbed above the key $230 resistance area. The next major resistance on the upside is near the $240 level.
On the downside, the previous resistance near the $225 and $220 levels are likely to act as supports. If there is a break below $220, the price could revisit the $205 support area.
Bitcoin SV, Binance Coin (BNB) and ADA Price Analysis
In the past few hours, there was a sharp rise in bitcoin SV above the $100 and $105 resistance levels. BSV price even broke the $110 resistance and it is currently up more than 15%. An immediate resistance is near the $115 level, above which it could test the $120 zone.
Binance coin (BNB) remained in a range in the past few sessions and it seems like it is consolidating above the $18.00 support area. On the upside, BNB price has to clear the $18.80 and $19.00 resistance levels to start another increase towards the $20.00 and $20.50 levels.
Cardano price finally managed to climb above the key $0.0400 resistance area. ADA price is currently up around 3%, but there is another strong resistance waiting near the $0.0420 resistance. A clear break above $0.0420 might set the pace for a rally towards the $0.0500 resistance area.
Looking at the total cryptocurrency market cap 4-hours chart, there was a decent rise from the $205.0B support area. However, the market cap is now facing a strong resistance near the $215.0B area and a connecting bearish trend line on the same chart.
Therefore, a successful close above $216.0B, plus a follow through above $220.0B could open the doors for more gains in the near term. Overall, there are chances of a fresh increase in bitcoin, Ethereum, ADA, ripple, tron, XLM, ADA, BNB, ICX, BCH, EOS, and other altcoins in the coming sessions.