Crypto Market Could Hit $200 Billion: Bitcoin Cash, XLM, EOS, TRX Price Analysis
- The total crypto market cap is likely setting up for more upsides above the $180.0B and $185.0B levels.
- Bitcoin cash price is trading nicely above the $300 level and it may accelerate above $325 and $340.
- EOS price is currently consolidating above $5.50 and it could soon revisit the $6.00 level.
- Stellar (XLM) price is up more than 5% and it may rise towards the $0.1400 level this week.
- Tron (TRX) is also up around 5% and it is likely setting up for a break above the $0.0300 resistance.
The crypto market cap seems to be aligning for a sharp upward move, with gains in bitcoin (BTC) and Ethereum (ETH). ETC, Stellar (XLM), BCH, EOS, ripple and tron (TRX) are likely to gain bullish momentum.
Bitcoin Cash Price Analysis
Bitcoin cash price remained in a positive zone and traded higher after correcting towards the $275 support against the US Dollar. The BCH/USD pair climbed above the $300 level once again and it is currently trading nicely above the $310 level.
On the upside, an immediate resistance is near the $325 level, above which the price is likely to grind higher towards the $340 and $350 resistance levels.
Stellar (XLM), EOS and Tron (TRX) Price Analysis
EOS price corrected lower and tested the $5.00 level, where buyers emerged. The price bounced back above the $5.30 and $5.40 resistance levels. Buyers even pushed the price above the $5.50 level to open the doors for a fresh increase towards the $6.00 hurdle.
Stellar price is trading nicely above the $0.1250 and $0.1300 resistance levels. XLM gained more than 5% today and it is trading nicely above the $0.1320 level. The next major resistance is near the $0.1400 level, where sellers are likely to take a stand.
Tron price is slowly gaining bullish momentum above the $0.0250 level. TRX recently broke the $0.0275 resistance and it is currently up around 5%. The next major resistance is near the $0.0300 level, above which the price is likely to surge sharply towards $0.0325 or $0.0350.
Looking at the total cryptocurrency market cap hourly chart, there was a fresh increase after a test of the $158.0B support level. The market cap broke the $168.0B resistance and it seems to be approaching the $178.0B and $180.0B resistance levels. A clear close above the $180.0B level is likely to open the doors for more upsides. The next major target could be $200.0B in the coming days. On the downside, there are many supports near the $172.0B and $170.0B levels. Overall, there could be more gains in bitcoin, Ethereum, EOS, ripple, ETC LTC, bitcoin cash, XLM, TRX, ICX, ONT, and other altcoins in the near term.
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