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Crypto Market and Bitcoin Facing Hurdles: Bitcoin, BCH, EOS, TRX, ADA Analysis

DATE POSTED:July 8, 2019
  • The total crypto market cap recovered recently, but struggled to break the $320.0B resistance.
  • Bitcoin price seems to be struggling to gain momentum above the $11,500 resistance.
  • EOS price is slowly recovering and it could attempt to clear the $6.000 resistance.
  • BCH price climbed back above the $400 resistance area, with a few positive signs.
  • Tron (TRX) price jumped around 10% and is currently trading above $0.0350.
  • Cardano (ADA) price managed to recover above the $0.0800 resistance area and is up around 4%.

Bitcoin price is facing resistance near $11,500 and the crypto market cap is struggling near $320.0B. Ethereum (ETH), EOS, Tron (TRX), BCH, ripple, ADA and BNB are showing a few positive signs.

Bitcoin Cash Price Analysis

After a slow and steady decline, bitcoin cash price found support near the $390 level against the US Dollar. The BCH/USD pair started a decent upward move and recently climbed above the $400 resistance. The pair is currently trading with a positive bias and it could continue to rise towards the $410 resistance.

The main resistances are near the $420 and $425 levels, above which the pair could accelerate gains towards the $440 level. On the downside, the main support area is near $400 and $390.

EOS, Tron (TRX) and ADA Price Analysis

EOS price remained stable above the $5.800 support area and it recently corrected above the $5.900 level. The price is up more than 2% and it seems like the bulls could make an attempt to surpass the key $6.000 resistance area.

Tron price found a strong support above $0.0300 and recently started a strong rise. TRX price is up around 10% and it broke the $0.0325 and $0.0335 resistance levels. It is now above the $0.0350 resistance and it could continue to rise.

Cardano price broke the $0.0800 support level this past week. However, the decline was contained and recently ADA price climbed back above the $0.0800 level. It is currently up 4% and it could soon test the $0.0820 resistance.

Bitcoin Crypto Market Cap Altcoins ETH, XRP, BCH, LTC, EOS, TRX, ADA, BNB

Looking at the total cryptocurrency market cap 4-hours chart, there is a decent support base formed near the $300.0B level. The market cap recently climbed higher and broke the $315.0B resistance. However, it struggled to clear the $320.0B resistance and a major bearish trend line on the same chart. The next key resistance is near the $330.0B level, above which it could test the $340.0B resistance area. On the downside, the main support is near the $300.0B level. Overall, if there is an upside break above the $320.0B resistance level, there could be sharp gains in bitcoin, ETH, XRP, TRX, ADA, bitcoin cash, litecoin, EOS, stellar, IOTA, ICX, WAN, and other altcoins.

The post Crypto Market and Bitcoin Facing Hurdles: Bitcoin, BCH, EOS, TRX, ADA Analysis appeared first on NewsBTC.