Bitcoin, Crypto Market Signaling More Upsides: BCH, BNB, LTC, TRX Analysis
- The total crypto market cap climbed further higher and broke the $310.0B resistance area.
- Bitcoin price extended its upward move and climbed towards the key $12,000 resistance.
- Binance coin (BNB) price is currently trading with a positive bias above the $32.50 support.
- Litecoin (LTC) price is struggling to move above the $122 and $124 resistance levels.
- BCH price tested the $415 resistance and it may rise towards the $425 resistance area.
- Tron (TRX) price is currently consolidating losses above the $0.0320 support area.
Bitcoin Cash Price Analysis
After settling above the $400 pivot level, there was a steady rise in bitcoin cash price against the US Dollar. The BCH/USD pair broke the $410 resistance level and recently tested the $415 resistance level. The current price action is positive and it seems like there could be more gains towards $425 in the near term.
If the price breaks the $425 resistance, it will most likely open the doors for a test of the $450 resistance. On the downside, the main supports are near $405 and $400.
Binance Coin (BNB), Litecoin (LTC) and Tron (TRX) Price Analysis
Binance coin (BNB) price remained in a positive zone above the $32.00 support level. BNB price is currently consolidating above the $32.50 support and it seems to be facing a strong resistance near $32.85 and $33.00, above which it could climb towards the $34.00 level.
Litecoin price is facing an uphill task and it seems to be struggling to stay above the $120 support area. On the upside, there are important resistances near $122 and $124, above which LTC price could start a decent recovery.
Tron price managed to stay above the $0.0320 support area and it is currently trading in a range near the $0.0325 level. TRX price must surpass the $0.0332 resistance level to move back in a positive zone.
Looking at the total cryptocurrency market cap hourly chart, there solid rise from the $270.0B support area. The market cap broke the key $300.0B and $310.0B resistance levels to move back in a positive zone. There was a clear break above the $320.0B level and the 76.4% Fib retracement level of the last slide from the $336.0B high to $272.0B swing low. Therefore, there are chances of more upsides towards the $335.0B and $340.0B levels. As long as there is no close below $300.0B, there could be more gains in bitcoin, Ethereum, EOS, litecoin, ripple, binance coin, BCH, TRX, XMR, XLM and other altcoins in the near term.