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Crypto Market Starts Fresh Increase: EOS, Bitcoin Cash, TRX, ADA Price Analysis
The total crypto market cap stayed above the $158.0B support and climbed above $165.0B.EOS price is climbing higher and it recently broke the $5.40 and $5.50 resistance levels.Bitcoin cash price is back above the $300 resistance with a positive structure.Tron (TRX) price found support near the $0.0260 level and recently recovered higher.Cardano (ADA) price is slowly moving higher towards the $0.0900 resistance level.The crypto market started a fresh increase, with bullish moves in bitcoin (BTC) and Ethereum (ETH). EOS, BCH, ripple, tron (TRX), ADA, BNB and other altcoins are slowly moving higher.Bitcoin Cash Price AnalysisRecently, we saw a downside correction in bitcoin cash price below the $280 level against the US Dollar. The BCH/USD pair tested the $260 support and recently recovered. It broke the $290 and $300 resistance levels to move back in a positive zone.The price is currently trading with a positive bias and it may continue to rise towards the $305 and $310 resistance levels. If there is another correction, the price might find bids near the $295 or $290 support.EOS, Tron (TRX) and ADA Price AnalysisEOS price recovered nicely after it settled above the $5.25 resistance area. The price gained traction above $5.40 and climbed more than 4%. It is currently trading with a positive angle above the $5.50 level and it may continue to rise towards the $5.60 and $5.65 resistance levels.Tron price corrected lower this past week below the $0.0285 and $0.0290 support levels. TRX price tested the $0.0260 support area, where buyers emerged. Recently, the price recovered and moved above the $0.0270 level. It could gain pace if bulls clear the $0.0275 and $0.0280 resistance levels.Cardano price is currently trading nicely above the $0.0800 support level. ADA price is up around 2% and it moved above the $0.0840 level. The current price action is positive and it seems like the price might climb higher towards the $0.0900 resistance level. The main resistance is at $0.1000, where sellers struggled this past week.Looking at the total cryptocurrency market cap hourly chart, there was a sharp downside correction from the $180.0B area. The market cap declined below the $170.0B support and tested the next key support near the $160.0B level. A swing low was formed at $158.0B and later there was a fresh increase. The current structure is positive since the market cap moved above the $160.0B and $165.0B levels. An immediate resistance is near the $170.0B level, above which the market cap could move higher towards the $174.B level. On the downside, there are many supports near the $160.0B level. Therefore, dips remain supported in bitcoin, ETH, XRP, TRX, ADA, bitcoin cash, litecoin, EOS, stellar, IOTA and other altcoins.
Author: Aayush Jindal
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