- The total crypto market cap is facing a strong resistance near the $129.0B and $130.0B levels.
- Bitcoin cash price recovered above the $132 resistance and it could climb towards the $135 level.
- EOS price is back above the $3.60 level, with a positive angle.
- Stellar (XLM) price gained more than 5% and broke the $0.1000 and $0.1050 resistances.
- Tron (TRX) is trading above the $0.0220 level and it could test the $0.0230 resistance.
The crypto market is trading sideways below key resistance levels. Stellar (XLM) gained recently, while bitcoin (BTC), Ethereum (ETH), BCH, EOS, ripple and tron (TRX) are preparing for the next break.
Bitcoin Cash Price Analysis
Bitcoin cash price recently moved above the $130 pivot level with a positive tone against the US Dollar. The BCH/USD pair even moved above the $132 resistance, opening the doors for a push towards the $135 resistance area in the near term.
The $135 resistance area is likely to act as a strong hurdle for buyers. If there is an upside break, the price could test the $140 level. On the downside, the main supports for buyers are near $130 and $128.
Stellar (XLM), EOS and Tron (TRX) Price Analysis
EOS price recovered nicely from the $3.50 support level. It recently broke the $3.55 and $3.60 resistance levels. It is currently consolidating above $3.60 and it could revisit the $3.75 resistance in the near term.
Stellar price performed nicely and gained traction above the $0.1000 resistance level. XLM price traded above the $0.1050 resistance and traded close to the $0.1100 barrier. The next key resistances are near $0.1120 and $0.1135. The main support on the downside is at $0.1000, below which it could test the $0.0920 level.
Tron price moved above the $0.0220 resistance and it is slowly gaining momentum. TRX is about to test the $0.0230 resistance, above which the next stop for buyers could be $0.0235. Sellers are likely to take a stand near the $0.0235 and $0.0240 resistance levels.
Looking at the total cryptocurrency market cap hourly chart, there was a decent rebound from the $127.0B support level. However, the market cap is facing a strong resistance near the $129.0B and $130.0B levels. A successful close above the $130.0B level could open the doors for a solid rally in the crypto market in the near term. On the other hand, if there is a downside correction, the $127.0B and $126.5B levels might act a supports. The main support is near the $125.0B level. In the short term, there could be more sideways movements in bitcoin, Ethereum, EOS, ripple, LTC, bitcoin cash, XLM, TRX, and other altcoins in the near term before the next move.
The post Crypto Market Trading Sideways: XLM Shoots Up, Bitcoin Cash, EOS, TRX Analysis appeared first on NewsBTC.
A Blockchain is a growing list of records, called blocks, which are linked using cryptography. Cryptography is the practice and study of techniques for secure communication in the presence of third party adversaries. Cryptocurrency is a digital currency that uses encryption (cryptography) to regulate the generation of currency and verify the transfer of funds, independently of a central bank.
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