- The total crypto market cap is currently correcting higher, but facing hurdles near $215.0B.
- Bitcoin price jumped more than 5% and it is trading above the $8,200 resistance area.
- EOS price is slowly moving higher towards the key $3.000 resistance level.
- BCH price is also up more than 5% and it is approaching the key $230 resistance.
- Tron (TRX) price is currently consolidating near the key $0.0155 pivot level.
- Cardano (ADA) price is still struggling to clear the key $0.0400 resistance area.
Bitcoin Cash Price Analysis
Recently, there was a fresh decline below the $215 support area in BCH price against the US Dollar. However, the price managed to stay above the $205 support area and it started a fresh recovery. The price is up more than 5% and it is now trading above the $220 level.
On the upside, there are many resistances near the $230 and $235 levels. A successful close above the $235 resistance is needed for more gains in the near term.
EOS, Tron (TRX) and ADA Price Analysis
EOS price declined this past week below the key $3.000 support area. It tested the next key support near the $2.850 level. At the outset, the price is correcting higher and it might soon test the main $3.000 resistance, above which the price could even surpass $3.050.
Tron price remained well bid above the $0.0150 support area. TRX price is currently consolidating near $0.0155, with an immediate resistance near the $0.0158 level. The main resistance is near $0.0160, above which the price could rise towards the $0.0172 resistance area.
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Cardano price is still trading in a bearish zone below the $0.0400 and $0.0420 resistance levels. ADA price tested the $0.0375 support recently and it is currently correcting higher. However, a close above $0.0400 and $0.0420 is must for a strong upward move in the coming days.
Looking at the total cryptocurrency market cap 4-hours chart, the $205.0B area seems to be acting as a strong support. The market cap jumped higher recently above the $212.0B level. However, the crypto market cap ran into a major resistance area near $215.0B and a bearish trend line. Therefore, it must surpass the $215.0B and $220.0B resistances to continue higher in the near term. The next major hurdle for the bulls could be near the $228.0B level. If not, there could be a fresh decline in bitcoin, ETH, XRP, TRX, ADA, bitcoin cash, litecoin, EOS, stellar, IOTA, ICX, WAN, and other altcoins.
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