Crypto Market In Clear Uptrend: Bitcoin Cash, XLM, EOS, TRX Price Analysis
The total crypto market cap is climbing higher and it could break the $137.00 resistance level.
Bitcoin cash price is placed nicely above the $170 level and it may accelerate above $172.
EOS price extended gains above the $4.20 resistance and it may even surpass $4.30.
Stellar (XLM) price tested the $0.1100 resistance level and recently corrected lower.
Tron (TRX) is climbing higher towards the $0.0240 resistance level.
The crypto market seems to be eyeing an upside break, with bullish moves in bitcoin (BTC) and Ethereum (ETH). Stellar (XLM), BCH, EOS, ripple and tron (TRX) are likely preparing for more upsides.
Bitcoin Cash Price Analysis
Bitcoin cash price climbed higher this week and cleared the key $165 resistance level against the US Dollar. The BCH/USD pair even broke the $170 level and traded to a new weekly high. The current price action is positive and it seems like the price may accelerate above the $172 and $174 levels in the near term.
On the downside, an initial support is near the $170 level, below which the price may start a downside correction. The next key supports are near the $168 and $165 levels.
Stellar (XLM), EOS and Tron (TRX) Price Analysis
EOS price surged higher this week and broke the $4.00 and $4.20 resistance levels. The price even tested the $4.30 level and it is currently consolidating gains. In the short term, there could be a minor dip before the price starts a solid upward move above the $4.30 and $4.35 resistance levels.
Stellar price also remained in a bullish zone this week above the $0.1000 level. XLM price even traded above the $0.1100 resistance level before starting a downside correction. The price is now trading below the $0.1100 level, but it may soon climb higher and clear the $0.1100 and $0.1120 resistance levels.
Tron price is recovering higher and it currently trading above the $0.0230 and $0.0235 resistance levels. TRX price is now trading higher and it may soon test the $0.0240 resistance zone. A break above the $0.0240 resistance is likely to open the gates for more gains above $0.0245.
Looking at the total cryptocurrency market cap hourly chart, there was a downside correction recently from the $136.5B resistance. The market cap tested the $134.5B level and later bounced back. It is currently near the last swing high and it seems like there could be an upside break above the $137.0B resistance level. In the short term, there could be a minor dip, but the $135.5B and $134.5B levels are likely to act as strong supports. Therefore, there could be more bullish moves in bitcoin, Ethereum, EOS, ripple, LTC, bitcoin cash, XLM, TRX, ICX, ONT, and other altcoins in the near term.
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