Quiks
Contributor
- The total crypto market cap jumped to a new weekly high at $136.4B and later corrected lower.
- EOS price rallied sharply and broke the $4.00 and $4.10 resistance levels.
- Binance Coin (BNB) seems to be consolidating above the $16.50 and $16.20 support levels.
- Bitcoin cash price gained nicely and it recently moved above the $170 resistance.
- Tron (TRX) price is currently trading in a tight range above the $0.0230 support level.
Bitcoin Cash Price Analysis
Bitcoin cash price traded higher steadily after it cleared the $155 and $160 resistance levels against the US Dollar. The BCH/USD pair broke the $165 resistance and it slowly moved above the $170 level. The price is currently consolidating above the $170 level and it may continue to rise towards the $175 level.
On the other hand, if there is a downside correction, the price is likely to trade below the $170 and $168 support levels. The main support is $165, where buyers are likely to emerge.
EOS, Tron (TRX) and BNB Price Analysis
EOS price performed really well and climbed above the $4.00 barrier. Buyers were in full control and they succeeded in clearing the $4.10 and $4.20 resistance levels. The current price action is such that the price may even climb above the $4.30 resistance level in the coming sessions.
Tron price managed to stay above the $0.0220 and $0.0222 support levels. TRX price recently climbed above the $0.0230 resistance and traded above $0.0232. The next stop could be $0.0235. The main hurdle for buyers is near the $0.0240 level, where sellers might take a stand.
Binance coin (BNB) remained well bid after it broke the $16.00 resistance level. BNB price even spiked above the $17.00 level before starting a downside correction. The price is currently consolidating in a range, with an immediate support at $16.50. The main support on the downside is near the $16.00 level.
Looking at the total cryptocurrency market cap hourly chart, there was a solid upward move above the $130.0B and $132.5B resistance levels. The market cap even broke the $135.0B resistance and traded to a new weekly high at $136.4B. Later, it started a downside correction and moved below the $135.5B support and a bullish trend line on the same chart. However, there is a strong support on the downside near the $134.0B level. Therefore, if there is a downside correction in bitcoin, ETH, TRX, LTC, EOS, BNB, ripple, ADA, XLM, WAN, BCH, XMR and other altcoins, buyers are likely to take a stand.
