- The total crypto market cap is currently correcting higher towards the $268.0-$270.0B resistance.
- Bitcoin price is also approaching towards a major resistance near the $10,200 and $10,250 levels.
- EOS price recovered more than 5% and it is now trading near the $3.650 resistance.
- Ethereum Classic price rallied close to 20% and broke the $7.00 resistance area.
- BCH price is back above $305, but it is facing many hurdles on the upside near $320.
- Tron (TRX) price is up around 8% and is approaching the $0.0185 resistance area.
Bitcoin Cash Price Analysis
After a downside break below the $300 support, BCH price tested the $290 level against the US Dollar. The BCH/USD pair found support and recently started an upside correction. The pair is now trading nicely above the $300 and $305 levels. However, there are many key resistances on the upside near the $315 and $320 levels.
On the downside, the $300 level might act as a short term support, below which the price is likely to resume its decline in the near term.
Ethereum Classic, EOS, Tron (TRX) Price Analysis
There was a sharp increase in Ethereum classic price in the past few sessions from the $5.00 support area. ETC price rallied close to 20% and it broke many important resistances near the $6.50 and $7.00 levels. If there is a downside correction, the same resistances near $7.00 and $6.50 may now act as supports.
Tron price is currently recovering after setting a new monthly low near $0.0165. TRX price is up more than 8% and it is now trading near the $0.0180 level. However, there are many important resistances on the upside near the $0.0185 and $0.0192 levels.
EOS price remained well bid above the $3.350 level and it recently started a decent recovery. The price gained around 5% and it is now trading near the $3.650 resistance. If there are more gains, the price could test the $3.800 resistance in the near term. On the downside, the main supports are $3.500 and $3.350.
Looking at the total cryptocurrency market cap 4-hours chart, there was an upside correction initiated from the $250.0B swing low. The market cap recovered above the $260.0B level, but there is a strong resistance waiting on the upside near the $268.0B and $270.0B levels. There is also a crucial bearish trend line forming near $268.0B on the same chart. Therefore, upsides are likely to remain capped in bitcoin, Ethereum, TRX, LTC, EOS, ripple, ADA, XLM, WTC, BCH, and IOTA in the near term.
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