Crypto Market And Bitcoin Starts Fresh Rally: BCH, BNB, EOS, TRX Analysis
- The total crypto market cap jumped sharply and broke the key $325.0B resistance area.
- Bitcoin price is up more than 10% and it recently broke the $12,500 resistance level.
- EOS price is showing positive signs and it recently broke the $6.00 resistance area.
- Binance Coin (BNB) broke the $33.00 resistance and it is currently consolidating in a range.
- BCH price is up more than 4% and it broke the $420 and $425 resistance levels.
- Tron (TRX) price is currently correcting yesterday’s gains, but remains supported near $0.0330
Bitcoin and the crypto market cap started a strong upward move. Ethereum (ETH), binance coin (BNB), BCH, tron (TRX), litecoin, ripple, and EOS are likely to gain bullish momentum.
Bitcoin Cash Price Analysis
After settling above the $400 level, BCH price consolidated in a range for a few sessions against the US Dollar. The BCH/USD pair started a fresh rise and recently managed to clear the $415 and $420 resistance levels. The price is now trading above the $425 level and it could continue to rise.
On the upside, the next key resistance is near the $440 level, above which the price could easily test the $450 resistance level in the near term.
Binance Coin (BNB), EOS, Tron (TRX) Price Analysis
EOS price formed a decent support near the $5.850 level and recently climbed above the $5.950 and $6.000 resistance levels. The price now needs to break the $6.080 and $6.100 resistance levels to start a strong rise in the coming sessions. The next key resistance on the upside is near the $6.280 level.
Tron price rallied more than 10% yesterday and tested the $0.0360 level. However, TRX price failed to continue higher and recently corrected below the $0.0350 and $0.0342 support levels. The price is now trading near the $0.0330 support level and it might soon start a fresh increase in the near term.
Binance coin (BNB) consolidated above the $32.50 support level for a few sessions. Finally, BNB price climbed higher and broke the key $33.00 resistance level. The price is now trading well above the $33.20 level and it may soon test the $34.00 and $34.50 levels.
Looking at the total cryptocurrency market cap 4-hours chart, there was a steady rise above the $310.0B resistance level. The market cap recently gained bullish momentum and broke the key $325.0B resistance level plus a contracting triangle near the $318.0B level. It opened the doors for more gains and the cap rallied above the $340.0B level. It seems like there could be more upsides towards the $350.0B level in the coming sessions. Therefore, bitcoin, Ethereum, TRX, LTC, EOS, ripple, ADA, XLM, WTC, BCH, and ICX are likely to gain further.
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Author: Aayush Jindal
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