Bitcoin And Crypto Market Stuck In Range: BCH, EOS, TRX, ADA Analysis
- The total crypto market cap is currently in a range above the $230.0B support area.
- Bitcoin price is currently consolidating above the key $9,000 support area.
- EOS price is trading above the $3.200 support area and facing resistance near $3.350.
- BCH price is currently correcting lower and it is approaching the $280 support area.
- Tron (TRX) price moved below the $0.0200 support area and it could decline towards $0.0185.
- Cardano (ADA) price is currently trading in a range above the $0.0400 support area.
Bitcoin and the crypto market cap are currently moving in a range. Ethereum (ETH), EOS, Tron (TRX), BCH, ripple, ADA and BNB are trading above key supports.
Bitcoin Cash Price Analysis
Recently, BCH price surged above the $285 and $300 resistance levels against the US Dollar. However, the price faced a strong resistance near the $305-310 area. As a result, the price started a downside correction and declined below the $300 level.
The price is currently trading below $290 and it is approaching the $280 support area. On the upside, there are many resistances near the $300 and $305 levels. On the downside, the next key support below $280 is near $265.
EOS, Tron (TRX) and ADA Price Analysis
EOS price failed to gain momentum above the $3.350 and $3.400 resistance levels. The price is currently correcting lower and is trading near the $3.250 level. An initial support is near the $3.200 level. If there is a downside break below the $3.200 support, the price could decline further towards the $3.050 support.
After a strong rally above the $0.0200 resistance, tron price found resistance near the $0.0225 level. TRX price is currently correcting lower and it is trading below the $0.0200 level. The next key support on the downside is near the $0.0185 level, below which the price could test the $0.0180 level.
Cardano price surged above the key $0.0400 and $0.0420 resistance levels. ADA price is currently correcting lower and is trading below the $0.0420 level. If there are more downsides, the price could test the $0.0405 and $0.0400 support levels.
Looking at the total cryptocurrency market cap 4-hours chart, there was a downside correction after a sharp rally above the $250.0B level. The market cap corrected lower and traded below the $245.0B level. It is currently consolidating above the $232.0B support area. On the downside, there are many supports near the $230.0B and $225.0B levels. There is also a connecting bullish trend line forming with support near $230.0B on the same chart.
Therefore, dips likely remain well supported in bitcoin, ETH, XRP, TRX, ADA, bitcoin cash, litecoin, EOS, stellar, IOTA, ICX, WAN, and other altcoins in the near term.
Published at Mon, 04 Nov 2019 05:00:33 +0000