At the moment, the virtual currency market is holding a very important support, with bullish moves recorded by BTC. Conversely, there are a number of other coins that recorded certain bearish moves in the past couple of hours. They included Stellar – XLM, Bitcoin Cash, Ethereum, Tron, Ripple, EOS and ADA.
The Current Price Analysis For Bitcoin Cash
The price of Bitcoin Cash has remained stable above the support levels of $380 and $385 against the US Dollar. The pair of Bitcoin Cash and US Dollar was even able to break a major resistance area before making a stride into a positive zone.
Breaking the $400 resistance zone even created opportunities for more gains and the price is now moving towards the $410 price area. The price is expected to rise in the coming times if there is an upside break that is right above $410.
However, it is also very important to note that the $400 price level may even act as a support and stop some losses that may occur in the next seasons.
How Other Virtual Coins Have Performed
Starting with EOS, the price is still playing below the resistance levels of $6.55 and $6.60. It has been unable to get a faster pace above those resistance levels. It began a downside correction before it fell below the support of $6.45 and $6.50. The coming support for the bulls is expected to be somewhere around the level of $6.40.
Stellar’s XLM, on the other hand, really struggled to make a gain past the resistance area of $0.1300. At the moment, it is trying to retreat from the highs. XLM has dropped with close to 1.5%. Currently, XLM seems to be approaching the support levels of $0.1220 and the $0.1200. The main resistance levels for this crypto coin are currently near the resistance levels of $0.1300 and $0.1310.
Strong Resistance For Tron
Tron is also another coin that faced a very strong resistance in the region of $0.0330. However, that did not stay for long before a decline in the price was witnessed. Since TRX was able to break the support of $0.0326, it is expected to continue declining towards the support zones of $0.0322 and $0.0320. The major hurdle seems to be in the support level of $0.0330.
The Crypto Market In Summary
The whole cryptocurrency market capitalization is now holding the key support levels of $248.0 and $245.0 billion. The price of Bitcoin has been able to gain by 1%, and just recently broke the resistance area of $8,200.
The price of Bitcoin Cash, on the other hand, was able to gain a strong bullish momentum and settled above the price area of $400.
As noted earlier, the EOS price is currently correcting lower towards the support zones of $6.40.
The other two major coins that have seen some changes in their prices are Tron and Stellar. Tron, for instance, is slowly making a move towards the support zone of $0.0320. The price of Stellar is currently positioned right above the support level of $0.1200.