Key Points

The total crypto market cap moved higher recently above a key resistance. Bitcoin, Ethereum and altcoins like EOS, Tron (TRX) and Cardano (ADA) may perhaps climb higher in the near term.

Bitcoin cash price failed to stay above the $100 level and it recently declined more than 3%. BCH/USD traded towards the $98 support and it is currently consolidating losses. If there are more losses, the price could test the $95 support in the near term.

On the upside, the price must gain strength above the $100 and $105 resistance levels. Above $105, the next key resistance for buyers is near the $110 level.

After a sharp decline, EOS price found support near the $1.50-1.60 area. Later, the price recovered above $1.75, but it seems to be struggling near the $1.95 and $2.00 resistance levels. Today, it climbed around 3.5%, but a break above $2.00 is needed for a sustained bullish bias.

Tron price surprisingly remained confined in a tight range above the $0.0130 support. Buyers are struggling to break the $0.0135 level and sellers are finding it difficult to break the $0.0130 support zone.

Cardano price survived and moved back above the $0.0300 resistance. ADA price is currently up around 2.5% and it could continue to move higher towards the $0.0310 and $0.0315 resistance levels.

Looking at the total cryptocurrency market cap hourly chart, there was a break above a major bearish trend line with resistance near the $105.00B level. The market cap climbed higher, but it failed near the 50% Fib retracement level of the recent decline from the $115.09B to $102.05B. It is currently moving lower, but sooner or later, there could be a fresh upward move. Therefore, there are chances of a short term recovery in Bitcoin, Ethereum, litecoin, ripple, and other altcoins in the near term.

The post Crypto Market Update: EOS, Bitcoin Cash, Tron (TRX), ADA Price Analysis appeared first on NewsBTC.

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