Bitcoin cash is showing positive signs and the total market cap remains supported on dips. Bitcoin, Ethereum, ripple and altcoins like EOS, Tron (TRX) and Cardano (ADA) could extend gains.
Bitcoin Cash Price Analysis
Bitcoin cash price gained traction recently and broke the $150 resistance area against the US Dollar. BCH/USD even cleared the $160 resistance and traded close to the $168-170 resistance area. If there is a break above the $170 resistance, the price may extend gains above the $175 and $178 resistance levels.
On the downside, an initial support is at $162 followed by $160. If there is a break below the $160 support, the price may extend losses towards the $150 support.
EOS, Tron (TRX) and ADA Price Analysis
EOS price performed really well recently and broke the $2.75 and $2.80 resistance levels. EOS is up around 5% and it may continue to move higher towards the $2.90 and $3.00 resistance levels. The main supports are at $2.80 and $2.72.
Tron price remained in a decent uptrend in the past few days and it broke the $0.0200 and $0.0210 resistance levels. TRX price even settled above the $0.0220 level and it looks set for more gains in the near term.
Cardano price surged above the $0.0450 and $0.0480 resistance levels. ADA price even broke the $0.0500 hurdle and traded close to the $0.0510 level. The current price action is positive and dips remain supported near $0.0500 and $0.0492.
Looking at the total cryptocurrency market cap hourly chart, there was a decent upward move above the $135.00B resistance level. The market can touched the $137.00B level and later started a downside correction. On the downside, there are many supports near the $133.00B, $132.00 and $130.00B levels. Therefore, if there is a downside correction in BTC, ETH, litecoin, ripple, EOS, ADA, NEO, and other altcoins, buyers are likely to protect losses.