- The total crypto market cap is currently consolidating gains below the $265.0B resistance area.
- Bitcoin price corrected gains, but it is still trading above the $10,500 support area.
- BCH price is struggling to move above the $300 resistance and is currently correcting gains.
- EOS price is currently consolidating gains near the $3.300 support area.
- Stellar (XLM) price is struggling to continue higher above the $0.0625 and $0.0640 resistances.
- Tron (TRX) price is still well below the main $0.01600 resistance area.
Bitcoin (BTC) and the crypto market cap are currently consolidating gains. Ethereum (ETH), BCH, stellar (XLM), ADA, EOS, ripple, and tron (TRX) are struggling to retain gains.
Bitcoin Cash Price Analysis
Recently, we saw a nice upward move in BCH price above the $290 resistance levels against the US Dollar. However, the BCH/USD pair struggled to continue higher and failed to surpass the $300 and $305 resistance levels. As a result, there was a downside correction below $295 and the price is currently sliding towards the $290 level.
To continue higher, the price must break the $300 and $305 resistance levels. If not, the price is likely to revisit the $280 support area in the near term.
Stellar (XLM), EOS and Tron (TRX) Price Analysis
EOS price recovered recently above the $3.350 resistance level. However, the price faced a strong selling interest near the $3.450 and $3.500 levels. As a result, there was a downside correction below $3.400 and the price is currently consolidating near the $3.300 level. The next key support is near the $3.200 level.
Stellar price is remained confined in a range and failed to climb above the $0.0640 and $0.0650 resistance levels. On the downside, the main support is near the $0.0600 level, below which XLM price is likely to decline towards the $0.0550 level in the near term.
Tron price seems to be in a long consolidation mode above the $0.0150 support level. On the upside, there are many important resistances forming near the $0.0158 and $0.0160 levels. A successful close above the $0.0160 level is needed for a sustained upward move in the coming days.
Looking at the total cryptocurrency market cap 4-hours chart, there was a steady rise above the $240.0B and $250.0B resistance levels. It opened the doors for more gains above $255.0B, but the $265.0B level acted as a strong resistance. The market cap made two attempts to surpass the $265.0B resistance level, but it failed to continue higher. At the moment, the market cap is consolidating below $265.0B, with many supports on the downside near the $255.0B and $250.0B levels. Therefore, there are chances of a fresh increase in bitcoin, Ethereum, EOS, ripple, litecoin, bitcoin cash, XLM, TRX, BNB, WAN, WTC, ICX, and other altcoins in the near term.