Crypto Market, Bitcoin Cruising Higher: Bitcoin Cash, Litecoin, TRX, XLM Analysis
- The total crypto market cap is placed nicely above $180.0B and it could accelerate higher.
- Bitcoin price is gaining momentum and it recently surged to a new 2019 above $6,050.
- Litecoin (LTC) price broke the $75 resistance and it seems like it could grind higher towards $80.
- Bitcoin cash price is once again moving higher towards the key $295 and $300 resistances.
- Tron (TRX) price broke the $0.0242 resistance to move into a positive zone.
- Stellar (XLM) price seems to be consolidating below the key $0.0980 and $0.1000 resistances.
The crypto market cap and bitcoin (BTC) are gaining momentum. Ethereum (ETH), litecoin (LTC), ripple, bitcoin cash, tron (TRX), stellar (XLM) and other altcoins might jump higher.
Bitcoin Cash Price Analysis
Bitcoin cash price found support near the $275 level and recently bounced back against the US Dollar. The BCH/USD pair broke the $285 and $290 resistance levels, but it is facing a lot of hurdles on the upside. An initial resistance is at $295, above which the price may test the $300 level in the near term.
If the price fails to break the $300 resistance level, there is a risk of a fresh decline towards the $285 support level. The main support is at $275, below which the price may test $260.
Litecoin (LTC), Tron (TRX) and Stellar (XLM) Price Analysis
Litecoin price found support just below the $70 level and recently recovered higher. LTC price broke the $72 and $75 resistance levels. It is currently trading above the $75 level and it seems like the price might climb higher towards the $78 or $80 resistance.
Tron price finally started a decent recovery above the $0.0238 and $0.0240 resistance levels. It even broke $0.0242 and $0.0245 before starting a downside correction. TRX price is currently above $0.0242 and it seems like it could climb higher above $0.0245 in the near term.
Stellar price is trading well below the key $0.1000 resistance level. XLM price is currently at $0.0950, with an immediate resistance at $0.0965. A break above $0.0965 could push the price towards the $0.0980 or $0.1000 resistance level.
Looking at the total cryptocurrency market cap 4-hours chart, there was a fresh increase above the $180.0 and $182.0B resistance levels. The market cap recently tested the $186.6B level and the 76.4% Fib retracement level of the last slide from the $189.5B high to $177.3B low. It seems like there is a strong bullish pattern forming with support near the $180.0B level. As long as the market cap is above the $180.0B level, there could be more gains in bitcoin, Ethereum, EOS, litecoin, ripple, XLM, BCH, BNB, TRX, ADA, XMR, and other altcoins in the coming sessions.
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