Crypto Market Could Rally Soon: Bitcoin Cash, EOS, BNB, TRX Price Analysis
- The total crypto market cap is facing a tough resistance near the $130.0B level.
- EOS price is trading nicely above the $3.60 support and it could continue higher towards $3.75.
- Binance Coin (BNB) is consolidating above the $15.00 support and it could extend gains.
- Bitcoin cash price climbed higher and tested the $135 resistance area.
- Tron (TRX) price is about to make the next move either above $0.0230 or below $0.0220.
Bitcoin Cash Price Analysis
Bitcoin cash price climbed higher slow and steadily above the $130 and $132 resistance levels against the US Dollar. The BCH/USD pair even broke the $134 level and tested the key $135 resistance. The price is currently consolidating and it seems like it could make an attempt to surpass the $135 resistance level.
On the downside, the $132 level is now a strong support. If there is a break below the $132 support, the $130 level may act as a decent buy zone in the near term.
EOS, Tron (TRX) and BNB Price Analysis
EOS price recovered nicely above the $3.55 and $3.60 resistance levels. However, it is facing a couple of key hurdles near the $3.65 and $3.70 levels. If there is an upside break above $3.70, the price may even climb above $3.75. On the downside, the key supports are $3.60 and $3.55.
Tron price is currently consolidating above the $0.0220 support level. To gain bullish momentum, TRX price must move above the $0.0230 and $0.0235 resistance level. On the other hand, a downside break below $0.0220 may perhaps increase selling pressure on TRX in the coming sessions.
Binance coin (BNB) remained in the positive zone above the $14.50 and $15.00 support levels. BNB price is currently consolidating above the $15.00 support and it could extend gains. On the upside, an initial resistance is near the $15.50 level, above which it could trade above the $16.00 resistance.
Looking at the total cryptocurrency market cap hourly chart, there is a clear strong barrier formed near the $130.0B level. There were many spikes notes near the $130.0B and $130.5B levels. However, there was no follow through above $130.5B. The market cap is currently consolidating near the $130.0B resistance and two bearish trend lines. A successful close above trend lines and a follow through above $131.0B is needed for more upsides in the near term. In the mentioned case, bitcoin, ETH, tron, litecoin, EOS, ripple, cardano, XLM, ICX, BCH, XMR and other altcoins are likely to start a solid upward move.
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