Crypto Market Up $20 Billion Post Bitcoin Rally: BCH, LTC, EOS, ADA Analysis (Newsbtc)
The total crypto market cap found support near the $270.0B level and recently recovered.
Bitcoin price rallied more than 8% and recovered above the $11,000 resistance area.
Litecoin (LTC) price is currently above $120, but facing resistances near $122 and $124.
BCH price is stable above the $400 level and it is slowly moving towards the $420 resistance.
EOS price is likely to trade above the key $6.000 resistance area in the near term.
Cardano (ADA) price is currently consolidating above the $0.0820 support area.
The crypto market cap recovered from $270.0B, with strong gains in bitcoin (BTC) and Ethereum (ETH). Altcoins such as ripple, litecoin, BCH, EOS, tron (TRX), and ADA are slowly correcting losses.
Bitcoin Cash Price Analysis
In the past two days, bitcoin cash price managed to hold losses and recently settled above the $400 level against the US Dollar. The BCH/USD pair is currently correcting higher and it recently broke the $410 level. However, there are many resistances on the upside near the $415, $418 and $420 levels.
On the downside, the main support is near the $400 level, below which the price could move back into a bearish zone. The next supports are near $390 and $382.
Litecoin (LTC), EOS and Stellar (XLM) Price Analysis
Litecoin price failed to stay above the main $130 support level and it even spiked below the $120 support. LTC price is back above the $120 level and it is currently consolidating losses. An immediate resistance is near the $122 level, above which it could struggle to clear the $124 or $125 level.
EOS price stayed above the $5.500 and $5.600 support levels. It recovered above the $5.800 level and it is currently making an attempt to surpass the key $6.000 barrier. The next major hurdles for the bulls are near $6.100 and $6.150.
Cardano price declined heavily and settled below the $0.0850 support level. ADA price is currently consolidating above the $0.0820 support area and it is currently correcting higher. An initial resistance is near $0.0832, followed by $0.0840. The key resistance could be near the $0.0850 level.
Looking at the total cryptocurrency market cap hourly chart, there was a major decline below the $300.0B support area. However, the $272.0B and $270.0B levels acted as strong supports. The market cap start a strong recovery and climbed back above the $285.0B and $290.0B resistance levels. It even broke the $300.0B barrier and it seems to be facing hurdles near the $310.0B level. If there is an upside break above the $310.0B resistance, there could be a decent upward move in bitcoin, Ethereum, EOS, litecoin, ripple, ADA, BCH, XLM, BNB, TRX, XMR, and other altcoins.
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