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Crypto Market Showing Positive Signs: Bitcoin Cash, XLM, EOS, TRX Analysis

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Crypto Market Showing Positive Signs: Bitcoin Cash, XLM, EOS, TRX Analysis

The total crypto market cap found a strong support near $122.0B and recently climbed higher.Bitcoin price bounced back above the $7,700 and $7,800 resistance levels.Bitcoin cash price gained a strong bullish momentum and jumped back above $400.EOS price is recovered above the key $6.00 and $6.05 resistance levels.Stellar (XLM) price is currently consolidating below the $0.1250 and $0.1300 resistance levels.Tron (TRX) price is holding the key $0.0265 and $0.0272 support levels.The crypto market cap is showing positive signs, with bullish moves in bitcoin (Looking at the total cryptocurrency market cap hourly chart, there was a downside correction from the $244.0B resistance area. The market cap decline below the $230.0B support area and recently tested the $220.0B support area. It recovered recently and climbed above the $230.0B resistance. It seems like there is a major contracting triangle forming with resistance near the $240.0B level. A successful close above the $240.0B resistance may perhaps open the doors for more gains. The next key resistance is near $245.0B, above which the market cap could accelerate towards the $250.0B level. On the downside, the main supports are near the $225.0B and $222.0B levels. Overall, there are could be more upsides in bitcoin, Ethereum, EOS, ripple, litecoin, bitcoin cash, XLM, TRX, BNB, WAN, WTC, ICX, and other altcoins in the near term.

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Author: Aayush Jindal

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