Bitcoin And Crypto Market Stuck In Range: BCH, EOS, TRX, ADA Analysis
The total crypto market cap is currently in a range above the $230.0B support area.
Bitcoin price is currently consolidating above the key $9,000 support area.
EOS price is trading above the $3.200 support area and facing resistance near $3.350.
BCH price is currently correcting lower and it is approaching the $280 support area.
Tron (TRX) price moved below the $0.0200 support area and it could decline towards $0.0185.
Cardano (ADA) price is currently trading in a range above the $0.0400 support area.
Bitcoin and the crypto market cap are currently moving in a range. Ethereum (ETH), EOS, Tron (TRX), BCH, ripple, ADA and BNB are trading above key supports.
Bitcoin Cash Price Analysis
Recently, BCH price surged above the $285 and $300 resistance levels against the US Dollar. However, the price faced a strong resistance near the $305-310 area. As a result, the price started a downside correction and declined below the $300 level.
The price is currently trading below $290 and it is approaching the $280 support area. On the upside, there are many resistances near the $300 and $305 levels. On the downside, the next key support below $280 is near $265.
EOS, Tron (TRX) and ADA Price Analysis
EOS price failed to gain momentum above the $3.350 and $3.400 resistance levels. The price is currently correcting lower and is trading near the $3.250 level. An initial support is near the $3.200 level. If there is a downside break below the $3.200 support, the price could decline further towards the $3.050 support.
After a strong rally above the $0.0200 resistance, tron price found resistance near the $0.0225 level. TRX price is currently correcting lower and it is trading below the $0.0200 level. The next key support on the downside is near the $0.0185 level, below which the price could test the $0.0180 level.
Cardano price surged above the key $0.0400 and $0.0420 resistance levels. ADA price is currently correcting lower and is trading below the $0.0420 level. If there are more downsides, the price could test the $0.0405 and $0.0400 support levels.
Crypto Market Cap
Looking at the total cryptocurrency market cap 4-hours chart, there was a downside correction after a sharp rally above the $250.0B level. The market cap corrected lower and traded below the $245.0B level. It is currently consolidating above the $232.0B support area. On the downside, there are many supports near the $230.0B and $225.0B levels. There is also a connecting bullish trend line forming with support near $230.0B on the same chart.
Therefore, dips likely remain well supported in bitcoin, ETH, XRP, TRX, ADA, bitcoin cash, litecoin, EOS, stellar, IOTA, ICX, WAN, and other altcoins in the near term.
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