Crypto Market Jumps $10 Billion: Bitcoin Cash, Tron (TRX), ADA, IOTA Analysis
The total crypto market cap is accelerating higher above the $140.0B resistance level.
Bitcoin cash price is about to clear the $170 resistance level.
Tron (TRX) is up around 10% and it could accelerate above the $0.0260 level in the near term.
Cardano (ADA) is slowly rising towards the $0.0720 resistance area.
IOTA (MIOTA) is up around 4% and it recently broke the $0.3250 resistance area.
The crypto market is climbing higher, with solid gains in bitcoin (BTC) and Ethereum (ETH). Tron (TRX) rallied more than 8%, and ripple, Litecoin (LTC), IOTA and Cardano (ADA) are trading with bullish moves.
Bitcoin Cash Price Analysis
Bitcoin cash price found support near the $162 level and later bounced back above the $165 level against the US dollar. The BCH/USD pair is currently trading nicely above the $168 level and it is likely to climb above the $170 resistance level in the near term.
On the upside, the next key resistance is at $172, above which the price may revisit the $175 level. On the downside, the key support is $165, followed by the $162 pivot level.
Tron (TRX), ADA and IOTA Price Analysis
Tron price formed a solid support base above the $0.0232 level. Finally, TRX buyers gained traction and pushed the price above the $0.0235 and $0.0240 resistance levels. It opened the doors for more gains and the price rallied above the $0.0250 level. The next key stop for buyers is near the $0.0260 level.
Cardano price recently climbed above the $0.0700 level and later started consolidating gains. ADA price is currently moving higher and it may soon test the $0.0720 resistance. A clear break above $0.0720 is likely to open the doors for a push towards the $0.0750 level. On the downside, the main support is at $0.0700.
IOTA (MIOTA) started a decent upward move above the $0.3100 resistance levels. It broke the $0.3180 and $0.3200 resistance levels and it is currently trading above the $0.3250 level. The next stop for buyers could be $0.3500.
Looking at the total cryptocurrency market cap hourly chart, there was a slow and steady rise above the $135.0B and $137.0B resistance levels. The market cap even broke the $139.0B and $140.0B resistance levels. The current bias is very positive and suggests more gains above the $142.0B and $144.0B levels in the near term. On the downside, there are many supports near the $139.0B level, which was a resistance earlier. There is also a major bullish trend line in place with support near the $139.0B level. Overall, the market is placed nicely in a positive zone, and there could be more upsides in bitcoin, Ethereum, EOS, ripple, IOTA, litecoin, BCH, ICX, EOS, XLM, and other altcoins.
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