Crypto Market Holding Key Support: Bitcoin Cash, Litecoin (LTC), ADA, TRX Analysis
- The total crypto market cap is currently above the key $225.0B and $230.0B support levels.
- Bitcoin price seems to be struggling to clear the $8,000 barrier and is trading in a range.
- Litecoin (LTC) price is currently consolidating above $90.00, with resistances near $92.00 and $95.00.
- Bitcoin cash price settled above the $400 resistance area after a strong recovery from $350.
- Tron (TRX) price is slowly grinding higher towards the key $0.0300 resistance area.
- Cardano (ADA) price is facing a strong resistance near the $0.0850 and $0.0880 levels.
Bitcoin Cash Price Analysis
Bitcoin cash price rebounded sharply from $350 and climbed above the $380, $390 and $400 resistance levels against the US Dollar. BCH/USD settled above the $400 level and it is currently consolidating in a range. On the upside, an initial resistance is near the $410 level, followed by $415.
If there is a follow through above $415, the price is likely to test the $430 and $440 levels. On the downside, a break below the $400 support level may perhaps spark a fresh drop towards the $385 support.
Cardano (ADA), Litecoin (LTC) and Tron (TRX) Price Analysis
Litecoin price recovered nicely above the $85 and $88 resistance levels. LTC price broke the $90 level and it seems to be trading in a range. An initial hurdle for the bulls is near $92, above which the price could test $95. On the downside, the main supports are $90 and $85.
Tron price is holding the $0.0265 and $0.0270 support levels. TRX price is currently moving higher, but it is facing a strong resistance near the $0.0292, $0.0295 and $0.0300 levels. A clear break above $0.0300 could set the tone for more gains.
Cardano price corrected lower sharply, but it recently bounced back above the $0.0800 level. ADA price is currently trading near $0.0840, with an immediate resistance near $0.0850. The next key resistances are $0.0880 and $0.0900.
Looking at the total cryptocurrency market cap 4-hours chart, there are many supports on the downside near the $231.0B, $230.0B, $228.0B and $225.0B levels. There is also a strong bullish trend line forming with support near the $222.0B level. As long as the market cap is above the trend line support, it is likely to climb higher towards the $245.0B level. The main resistance on the upside is near $250.0B. Overall, there are high chances of more upsides in bitcoin, Ethereum, EOS, litecoin, ripple, ADA, BCH, TRX, ICX, XLM and other altcoins in the near term.