Crypto Market, Bitcoin Surging: Bitcoin Cash, ADA, Litecoin (LTC), TRX Analysis
The total crypto market cap bounced back after testing the $167.5B level.
Bitcoin price rallied to a new 2019 high above the $5,500 resistance level.
Litecoin (LTC) price is currently consolidating above the $75.00 support area.
Bitcoin cash price is slowly moving higher towards the $295 and $300 resistance levels.
Tron (TRX) price is currently struggling and it could test the $0.0245 support area.
Cardano (ADA) price rallied recently and broke the $0.0750 and $0.0760 resistance levels.
The crypto market cap is climbing steadily, with bullish moves in bitcoin (BTC), Cardano (ADA) and Ethereum (ETH). Ripple, litecoin (LTC), bitcoin cash, TRX, XLM and BNB could extend gains.
Bitcoin Cash Price Analysis
Bitcoin cash price corrected lower and tested the $280 support area against the US Dollar. The BCH/USD pair is currently recovering and recently broke the $290 resistance levels. On the upside, an immediate resistance is at $295, above which the price could face hurdles near the $300 level.
On the downside, the $290 level is a decent support. If buyers lose control again, there is a risk of a fresh decrease towards the $282 or $280 support level.
Cardano (ADA), Litecoin (LTC) and Tron (TRX) Price Analysis
Litecoin price corrected lower below the $80.00 and $75.00 support levels. LTC price tested the $72.00 level and recently climbed back above $75.00. It is currently consolidating above $75.00, with many hurdles on the upside near the $78.00 and $80.00 levels.
Tron price declined heavily and broke the $0.0260 and $0.0252 support levels. TRX price is currently trading below the $0.0250 support, with a bearish angle. There is a risk of more losses towards the $0.0245 or $0.0242 support. On the upside, a break above the $0.0250 and $0.0255 resistances is must for a decent comeback.
Cardano price performed really well after it tested the $0.0720 support area. ADA is up more than 8% and it recently broke the $0.0750 and $0.0760 resistance levels. The next main resistance is at $0.0800, above which the price could start a strong upward move towards the $0.0880 and $0.0900 levels.
Looking at the total cryptocurrency market cap 4-hours chart, there was a minor downside correction recently below the $170.0B support. However, the $167.5B level acted as a strong support along with the 50% Fib retracement level of the last wave from the $159.9B low to $174.5B high. The market cap is again moving higher and it seems like it could surge above the $175.0B and $176.0B levels. The next main resistance is near the previous swing high at $180.0B. If there is another dip, buyers are likely to protect losses below $167.5B and $166.0B. Overall, there are chances of more upsides in bitcoin, Ethereum, EOS, litecoin, ripple, ADA, BCH, TRX, ICX, XLM and other altcoins in the near future.
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