- The total crypto market cap bounced back after testing the $167.5B level.
- Bitcoin price rallied to a new 2019 high above the $5,500 resistance level.
- Litecoin (LTC) price is currently consolidating above the $75.00 support area.
- Bitcoin cash price is slowly moving higher towards the $295 and $300 resistance levels.
- Tron (TRX) price is currently struggling and it could test the $0.0245 support area.
- Cardano (ADA) price rallied recently and broke the $0.0750 and $0.0760 resistance levels.
Bitcoin Cash Price Analysis
Bitcoin cash price corrected lower and tested the $280 support area against the US Dollar. The BCH/USD pair is currently recovering and recently broke the $290 resistance levels. On the upside, an immediate resistance is at $295, above which the price could face hurdles near the $300 level.
On the downside, the $290 level is a decent support. If buyers lose control again, there is a risk of a fresh decrease towards the $282 or $280 support level.
Cardano (ADA), Litecoin (LTC) and Tron (TRX) Price Analysis
Litecoin price corrected lower below the $80.00 and $75.00 support levels. LTC price tested the $72.00 level and recently climbed back above $75.00. It is currently consolidating above $75.00, with many hurdles on the upside near the $78.00 and $80.00 levels.
Tron price declined heavily and broke the $0.0260 and $0.0252 support levels. TRX price is currently trading below the $0.0250 support, with a bearish angle. There is a risk of more losses towards the $0.0245 or $0.0242 support. On the upside, a break above the $0.0250 and $0.0255 resistances is must for a decent comeback.
Cardano price performed really well after it tested the $0.0720 support area. ADA is up more than 8% and it recently broke the $0.0750 and $0.0760 resistance levels. The next main resistance is at $0.0800, above which the price could start a strong upward move towards the $0.0880 and $0.0900 levels.
Looking at the total cryptocurrency market cap 4-hours chart, there was a minor downside correction recently below the $170.0B support. However, the $167.5B level acted as a strong support along with the 50% Fib retracement level of the last wave from the $159.9B low to $174.5B high. The market cap is again moving higher and it seems like it could surge above the $175.0B and $176.0B levels. The next main resistance is near the previous swing high at $180.0B. If there is another dip, buyers are likely to protect losses below $167.5B and $166.0B. Overall, there are chances of more upsides in bitcoin, Ethereum, EOS, litecoin, ripple, ADA, BCH, TRX, ICX, XLM and other altcoins in the near future.
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