Crypto Market And Bitcoin Facing Hurdles: BCH, BNB, EOS, TRX Analysis
- The total crypto market cap climbed higher, but it failed to surpass the $ 272.0B resistance.
- Bitcoin price surged around 5%, but it was rejected near the $ 10,500 and $ 10,600 resistance levels.
- EOS price settled above the $ 3.600 level and it is facing hurdles near the $ 3.700 and $ 3.800 levels.
- Binance Coin (BNB) is still trading in a bearish zone below the key $ 27.50 pivot level.
- BCH price is trading nicely above the $ 305 and $ 310 supports, but struggling near $ 320.
- Tron (TRX) price is under a lot of pressure and it is currently well below the $ 0.01850 resistance.
Bitcoin Cash Price Analysis
There was a decent recovery in BCH price above the $ 305 and $ 310 resistance levels against the US Dollar. However, the BCH/USD pair is facing a couple of important resistances near the $ 320 level. Therefore, the price must rise and settle above $ 320 to continue higher this week.
If there is no upside break above $ 320, the price could start a fresh decline. A break below the $ 305 and $ 300 support levels might push the price towards the $ 300 level.
Binance Coin (BNB), EOS, Tron (TRX) Price Analysis
EOS price settled above the $ 3.600 resistance level and traded above the $ 3.650 level. However, there are many key hurdles forming near the $ 3.700 and $ 3.800 levels. A convincing close above $ 3.800 is needed for an upside acceleration in the near term. On the downside, the main support is near the $ 3.500 level.
Tron price started an upside correction from the $ 0.0155 support area. TRX price climbed above the $ 0.0165 resistance level and is trading above $ 0.0172. However, the price seems to be struggling to surpass the $ 0.0185 resistance area.
Binance coin (BNB) declined below the key $ 27.50 support level to move into a bearish zone. BNB price is currently holding the $ 26.00 support, but it is facing a lot of resistance near the $ 26.80 and $ 27.00 levels. On the downside, a break below $ 26.00 may perhaps push the price towards the $ 25.00 level.
Looking at the total cryptocurrency market cap 4-hours chart, there was an upward recovery from the $ 250.0B support area. The market cap climbed sharply above the $ 260.0B resistance and a bearish trend line. However, the $ 270.0B and $ 272.0B levels acted as major hurdles. The market cap is trimming gains and is currently near the $ 260.0B level. It seems like there could be a fresh upward move towards the $ 272.0B resistance in the coming sessions. However, upsides could be contained in bitcoin, Ethereum, TRX, LTC, EOS, ripple, ADA, XLM, WTC, BCH, and ICX in the near term.
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