Crypto Market Rally As Altcoins Join Party: Bitcoin Cash, XLM, EOS, TRX Analysis | NewsBTC
- The total crypto market cap surged further and tested the key $250.0B resistance level.
- Bitcoin price is currently consolidating above the $8,000 and $8,100 support levels.
- Bitcoin cash price surged above the $400 and $425 resistance levels.
- EOS price is up more than 10% and it recently cleared the key $6.50 barrier.
- Stellar (XLM) price rallied more than 25% and broke many hurdles near $0.1300 and $0.1400.
- Tron (TRX) also joined the party and broke the key $0.0250 and $0.0300 resistance levels.
The crypto market cap surged above $250.0B, with gains in major altcoins and bitcoin (BTC). Many coins like Ethereum (ETH), BCH, stellar (XLM), ADA, EOS, ripple, and tron (TRX) rallied significantly.
Bitcoin Cash Price Analysis
Bitcoin cash price corrected lower yesterday and tested the $380 and $385 support levels against the US Dollar. A support base was formed and the BCH/USD pair started a fresh increase above the $395 and $400 resistance levels. The upward move was strong as the price even broke the $425 resistance.
The price traded close to the $435 level and it is currently consolidating gains near $430. An initial support is at $425, below which the price may perhaps correct towards the $410 support area.
Stellar (XLM), EOS and Tron (TRX) Price Analysis
EOS price is up more than 10% today and it recently broke a few important resistances near the $6.50 and $6.60 levels. The price gained pace above $6.70 and it seems like it could continue to rise towards the main $7.00 resistance area.
Stellar price performed realty well and it gained more than 25% recently. XLM price broke the main $0.1200 and $0.1300 resistance levels to start a significant uptrend. The upward move was such that the price even broke the $0.1500 barrier. The next key resistances are near $0.1550 and $0.1600.
Tron price also started a decent upward move after it broke the key $0.0250 resistance. TRX price is up more than 12% and it climbed above the $0.0300 resistance. The next key resistance for the bulls is near the $0.0340 level.
Looking at the total cryptocurrency market cap hourly chart, there were steady gains above the $220.0B and $225.0B resistance levels. The upward move was such that the price market cap even broke the $250.0B level (as discussed in yesterday’s analysis). The current structure is positive and suggests more upsides above the $250.0B and $255.0B levels in the coming sessions. On the downside, the main support for the bulls is near the $245.0B and $242.0B levels. Overall, the crypto market is clearly in a strong uptrend and there could be more gains in bitcoin, Ethereum, EOS, ripple, litecoin, bitcoin cash, XLM, TRX, BNB, WAN, WTC, ICX, and other altcoins.
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