Bitcoin Leading Crypto Market Rally: Bitcoin Cash, XLM, EOS, TRX Price Analysis
The total crypto market cap is gaining momentum above the $175.0B resistance level.
Bitcoin price rallied more than 3.5% and climbed above the $5,550 resistance.
Bitcoin cash price is currently placed nicely above the $270 support level.
EOS price is back above the $4.80 level and it may test the $4.90 resistance.
Stellar (XLM) price is likely to gain momentum above the $0.1000 resistance level.
Tron (TRX) is still struggling to clear the $0.0242 and $0.0245 resistance levels.
The crypto market cap is climbing higher, with sharp gains in bitcoin (BTC) and BNB. Altcoins like Ethereum (ETH), BCH, stellar (XLM), ADA, EOS, ripple, and tron (TRX) could also climb higher.
Bitcoin Cash Price Analysis
Bitcoin cash price formed a decent support base and recently climbed above the $262 and $265 resistance levels against the US Dollar. The BCH/USD pair even broke the $270 level and it looks set to gain momentum above the $275 resistance level in the near term.
A clear break above the $275 and $280 resistance levels may open the doors for a sharp upward move in the near term. The next key resistance is near the $300 level, and the main support on the downside is at $260.
Stellar (XLM), EOS and Tron (TRX) Price Analysis
EOS price bounced back above the $4.75 and $4.80 resistance levels to move into a positive zone. It seems like the price may continue to rise and it could test the $4.90 or even $4.95 resistance. The crucial hurdle for the bulls is near the $5.00 level.
Stellar price is slowly moving higher and it is currently near the $0.0990 level. XLM price is likely to climb above the $0.1000 and $0.1020 resistance levels in the near term. On the downside, an initial support is at $0.0980, followed by the $0.0960 level.
Tron price is currently consolidating, but it is still below the key $0.0242 and $0.0245 resistance levels. TRX price must clear the $0.0245 resistance level to start a strong upward move. The main support on the downside is near the $0.0235 and $0.0232 levels.
Looking at the total cryptocurrency market cap hourly chart, there was a strong upward move above the $170.0B and $172.0B resistance levels. The market cap even broke a contracting triangle resistance near the $174.0B resistance. It climbed above the $175.0B level and it seems like there could be more upsides towards the $180.0B resistance level. If there is a downside correction, the market cap is likely to find support near the $175.0B or $174.0B level. Overall, the trend is very positive for bitcoin, Ethereum, EOS, ripple, litecoin, bitcoin cash, XLM, TRX, BNB, WAN, WTC, ICX, and other altcoins.
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