- The total crypto market cap seems to be facing a couple of important resistance levels.
- EOS price is slowly moving higher from the $3.62 support area, with a positive angle.
- Binance Coin (BNB) surged more than 10% and broke the $16.50 resistance.
- bitcoin cash price is currently consolidating above the $165 support level.
- Tron (TRX) price retreated from highs and declined more than 4%.
The crypto market is slowly moving lower, while bitcoin () and (ETH) are facing many hurdles. Binance coin (BNB) rallied recently, whereas BCH, , EOS, TRX and ADA are currently consolidating.
bitcoin Cash Price Analysis
bitcoin cash price declined recently below the $170 and $165 support levels against the US Dollar. The BCH/USD pair tested the $160 support level and later bounced back. The pair moved above the $165 resistance and it is currently consolidating gains.
On the upside, an initial resistance is near the $168 level, followed by $170. Once there is a break above the $170 level, the price could climb to a new monthly high in the near term.
EOS, Tron (TRX) and BNB Price Analysis
EOS price declined recently and traded below the $3.65 support level. The price tested the $3.60 support level and it is currently correcting higher. Buyers pushed the price above the $3.65 level, with a positive angle. However, there are many hurdles on the upside near the $3.70 and $3.72 levels.
Tron price traded above the $0.0230 level recently and later failed to hold gains. TRX price is down more than 4% and it is currently trading below $0.0230. An immediate support is at $0.0225, below which the price could decline towards the $0.0220 level.
Binance coin (BNB) performed really well recently and climbed above the $16.00 and $16.50 resistance levels. BNB price is up more than 12% and it recently spiked above the $17.00 level. The next key resistances are near $17.40 and $17.50. If there is a downside correction, the previous resistances near the $16.50 and $16.20 levels are likely to act as decent supports.
Looking at the total cryptocurrency market cap hourly , there was a crucial bearish reaction near the $136.0B resistance level. There was a slow and steady decline below the $134.0B and $133.0B levels. The market cap is currently following a major bearish trend line with current resistance at $133.5B on the same chart. A proper close above the trend line and $134.0B is needed for buyers to gain traction in the near term. If not, there is a risk of more losses in bitcoin, ETH, tron, litecoin, EOS, ripple, cardano, XLM, ICX, BCH, XMR and other altcoins in the near term.
Published at Mon, 25 Mar 2019 06:00:31 +0000
