Crypto Market Staging Comeback: Bitcoin Cash, XLM, EOS, TRX Price Analysis
- The total crypto market cap is currently consolidating below the $167.0B resistance.
- Bitcoin cash price is currently above $260 and it could rebound towards $270 and $275.
- EOS price is likely to climb slowly above the $4.75 and $4.80 resistance levels.
- Stellar (XLM) price is making an attempt to move back above the $0.1000 resistance.
- Tron (TRX) could test the $0.0245 resistance, where seller are likely to appear.
Bitcoin Cash Price Analysis
Bitcoin cash price declined heavily in the past three days after it settled below the $300 support against the US Dollar. The BCH/USD pair broke the $290 and $280 support levels. It even tested the $260 support and currently consolidating gains above the $260 level.
On the upside, the $270 level may act as a strong resistance, above which the price is likely to climb above the $275 level in the near term.
Stellar (XLM), EOS and Tron (TRX) Price Analysis
EOS price was under a lot pressure as it broke the $5.00 and $4.80 support levels. The price traded close to the $4.50 support and recently recovered above $4.70. On the upside, there are a few important hurdles near the $4.75 and $4.80 resistance levels. On downside, the main supports are $4.62 and $4.50.
Stellar price settled below the main $0.1020 and $0.1000 support levels. It is currently correcting higher and it could make an attempt to climb back above the $0.1000 level. The next key resistances are near $0.1020 and $0.1040. On the downside, the main supports are $0.0975 and $0.0960.
Tron price remained in a strong downtrend below the $0.0250 support level. TRX price broke the $0.0240 support and recently traded close to the $0.0225 level. It is currently correcting higher and it may perhaps test the $0.0245 resistance.
Looking at the total cryptocurrency market cap hourly chart, there was a strong rebound from the $158.0B and $160.0B support levels. The market cap is now above the $164.0B level and it is likely to break a crucial bearish trend line with resistance at $166.0B. A successful close above the $166.0B and $167.0B resistance levels may open the doors for more upsides. The next key resistance is at $170.0B, where sellers may emerge. On the other hand, a failure to clear the $167.0B resistance might trigger bearish moves in the near term. Overall, there are high chances of a strong recovery in bitcoin, Ethereum, EOS, ripple, litecoin, bitcoin cash, XLM, TRX, WAN, WTC, ICX, and other altcoins in the near term.