Crypto Price Analysis: Market Begins Fresh Increase


The total crypto market capitalization was able to find support around $236.0 billion before making a sharp jump above $245.0 billion.

BTC price also broke the major resistance level of $8,000 and made a swift move to a positive zone. A number of other coins have also done equally well. Some of them include the Binance Coin, the EOS, Bitcoin Cash and Tron – TRX.

Bitcoin Cash Price Analysis

Just some few days ago, Bitcoin Cash experienced a major downside correction. But after this, the price was able to find support right above $360 against one of its top rivals, the US Dollar. The pair of Bitcoin Cash and the US Dollar had started a very steady recovery and was even able to break their major resistance levels of $380 and $390. At the moment, the BCH/USD pair is trading right above $400.

With this price, the bulls are expected to take full control in the coming times. The next major resistances are close to $410 and $420. Should there be any kind of a downside move, then the price might get bids near the price levels of $390 and the $385.

EOS Price Analysis

As noted earlier, the market has not been so bad with a host of other coins. The EOS price, for instance, remained stable above the level of $6.20. Just some few days ago, the price was able to recover much higher. In addition to that, the EOS price also broke the two main resistance levels of $6.25 and $6.32.

EOS price analysis

On top of that, there was also a break above the resistance levels of $6.45 and $6.50 within the past couple of hours. With all these happening, the next stop for bull appear to already been plotted. It could be somewhere between the resistance levels of $6.60 or $6.65. However, it is still a matter of time.

Tron And Binance Current Price Analysis

The Tron price has also been gaining bullish momentum over the past few hours. At the moment, it is trading up more than 5%. The price of this virtual currency was also able to break its major resistance levels of $0.0300 and $0.0320. It is now trading right above the level of $0.0330 and the next stop could be somewhere in the region $0.0340.Currently, the main resistance for the bulls are trading somewhere around the price level of $0.0350 in the next couple of days.

Binance, on the other hand, has managed to gain more than 5%. That has enabled it to clear the resistance levels of $34.00 and $35.00. The price of this leading virtual coin is currently consolidating above the price level of $35.00. It has also experienced an immediate resistance that is in the region of $35.40 and $35.50 price levels. The major hurdle now just exists close to the price level of $36.20. The crypto market four-hour chart recorded a major upside break that is right above the price level of $236.0 billion and $240.0 billion.