Bitcoin And Crypto Market Could Rise Steadily: BCH, Tron, XLM, ADA Analysis
- The total crypto market cap is holding a key support near the $240.0B and $238.0B levels.
- Stellar (XLM) price surged in the past few days and settled above the $0.0800 resistance.
- Bitcoin cash price is up more than 2% and it is approaching the $300 resistance area.
- Tron (TRX) price is currently correcting lower and it is approaching the $0.0195 support.
- Cardano (ADA) price is slowly rising and it could soon test the $0.0460 and $0.0475 resistances.
The crypto market cap and bitcoin (BTC) are rising steadily. Ethereum, BCH, ripple, stellar (XLM), EOS, TRX, and cardano (ADA) might climb higher.
Bitcoin Cash Price Analysis
After a downside correction, BCH price found support near the $280 and $285 levels against the US Dollar. The price is now moving higher and it is trading above the $295 level. It seems like it could soon surpass the $300 resistance and climb towards the $320 level in the near term.
On the downside, an initial support is near the $292 level. However, the main support for the bulls is near the $285 and $280 levels.
Stellar (XLM), Tron (TRX) and ADA Price Analysis
Stellar price rallied in the past few days and surged above the $0.0720 and $0.0750 resistance levels. XLM price even settled above the $0.0800 resistance and it is currently consolidating gains. An initial support is near the $0.0805, followed by the main $0.0800 level. On the upside, the key resistances are near the $0.0820 and $0.0832 levels.
Tron price is currently correcting lower and it recently traded below the $0.0200 support. TRX price may soon test the $0.0195 support area, where the bulls are likely to take a stand. On the upside, a clear break above the $0.0205 resistance might push the price towards the $0.0220 level.
Cardano price is holding gains above the $0.0420 level and it is slowly climbing higher. An initial resistance is near the $0.0445 and $0.0450 levels, above which ADA price could accelerate gains towards the $0.0475 level. On the downside, there are supports near $0.0420 and $0.0412.
Looking at the total cryptocurrency market cap 4-hours chart, there are positive signs above the $240.0B and $238.0B support levels. There is also a connecting bullish trend line forming with support near the $240.0B level. Therefore, a downside break below the $238.0B level could push the market cap back towards the $230.0B support area.
If not, there are chances of more gains in bitcoin, Ethereum, EOS, stellar, LTC, ADA, EOS, ripple, TRX and other altcoins in the near term. On the upside, the main hurdles for the crypto market cap are near $250.0B and $255.0B.
Published at Wed, 06 Nov 2019 05:00:30 +0000