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Cryptocurrency Market Now Holding An Uptrend Support

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.

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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.

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