Crypto Market Holding Uptrend Support: Bitcoin Cash, XLM, EOS, TRX Analysis
The total crypto market cap is holding the key $248.0B and $245.0B support levels.
Bitcoin price is up more than 1% and it recently broke the $8,200 resistance area.
Bitcoin cash price gained a strong bullish momentum and settled above $400.
EOS price is correcting lower towards the $6.40 support area.
Stellar (XLM) price is positioned above the $0.1200 support, but it is facing hurdles near $0.1300.
Tron (TRX) price is slowly moving lower towards the $0.0320 support area
The crypto market cap is holding an important support, with bullish moves in bitcoin (BTC). Conversely, there were slight bearish moves in Ethereum (ETH), BCH, stellar (XLM), ADA, EOS, ripple, and tron (TRX).
Bitcoin Cash Price Analysis
Bitcoin cash price remained stable above the $380 and $385 support levels against the US Dollar. The BCH/USD pair even broke the $400 resistance area recently to move into a positive zone. It opened the doors for more gains and the price is now approaching the $410 resistance area.
If there is an upside break above $410, the price could continue to rise in the near term. On the downside, the $400 level may now act as a support and prevent losses in the coming sessions.
Stellar (XLM), EOS and Tron (TRX) Price Analysis
EOS price failed to gain pace above the $6.55 and $6.60 resistance levels. It started a downside correction and declined below the $6.50 and $6.45 support. The next key support for the bulls is near the $6.40 level.
Stellar price struggled to gain pace above the $0.1300 resistance area and recently retreated from highs. XLM price is down around 1.5% and it seems to be approaching the $0.1220 and $0.1200 support levels. On the upside, the main resistance levels are near $0.1300 and $0.1310.
Tron price faced a strong resistance near the $0.0330 level and recently declined. TRX price broke the $0.0326 support and it may continue to decline towards the $0.0322 or $0.0320 support. On the upside, the main hurdle is near the $0.0330 level.
Looking at the total cryptocurrency market cap hourly chart, there was a solid upward move above the $245.0B level. The market cap even traded above $250.0B, but it failed to surpass the $254.0B and $255.0B resistance levels. It is currently moving in a range, with an immediate support near $248.0B and a bullish trend line. If there is a downside break, the market could extend losses. Conversely, a break above the $254.0B and $255.0B resistance levels might push the market further higher in the near term. Overall, as long as the market cap is above $245.0B, there could be more upsides in bitcoin, Ethereum, EOS, ripple, litecoin, bitcoin cash, XLM, TRX, BNB, WAN, WTC, ICX, and other altcoins in the near term.
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