Crypto Market Update: EOS, Bitcoin Cash, Tron (TRX), ADA Price Analysis

Key Points

The total crypto market cap moved higher recently above a key resistance. Bitcoin, Ethereum and altcoins like EOS, Tron (TRX) and Cardano (ADA) may perhaps climb higher in the near term.

Bitcoin Cash Price Analysis

Bitcoin cash price failed to stay above the $100 level and it recently declined more than 3%. BCH/USD traded towards the $98 support and it is currently consolidating losses. If there are more losses, the price could test the $95 support in the near term.

On the upside, the price must gain strength above the $100 and $105 resistance levels. Above $105, the next key resistance for buyers is near the $110 level.

EOS, Tron (TRX) and ADA Price Analysis

After a sharp decline, EOS price found support near the $1.50-1.60 area. Later, the price recovered above $1.75, but it seems to be struggling near the $1.95 and $2.00 resistance levels. Today, it climbed around 3.5%, but a break above $2.00 is needed for a sustained bullish bias.

Tron price surprisingly remained confined in a tight range above the $0.0130 support. Buyers are struggling to break the $0.0135 level and sellers are finding it difficult to break the $0.0130 support zone.

Cardano price survived and moved back above the $0.0300 resistance. ADA price is currently up around 2.5% and it could continue to move higher towards the $0.0310 and $0.0315 resistance levels.

Looking at the total cryptocurrency market cap hourly chart, there was a break above a major bearish trend line with resistance near the $105.00B level. The market cap climbed higher, but it failed near the 50% Fib retracement level of the recent decline from the $115.09B to $102.05B. It is currently moving lower, but sooner or later, there could be a fresh upward move. Therefore, there are chances of a short term recovery in Bitcoin, Ethereum, litecoin, ripple, and other altcoins in the near term.