Crypto Market Targets Fresh Highs: BNB Eyes $30, Bitcoin Cash, EOS, Tron Analysis
The crypto market cap setting up for a new monthly high, with strong gains in binance coin (BNB). Bitcoin (BTC), Ethereum (ETH), bitcoin cash, tron (TRX), ripple, litecoin and EOS remains supported on dips.
Bitcoin Cash Price Analysis
The past few hours were positive since bitcoin cash price found support near the $292 level against the US Dollar. The BCH/USD pair climbed back above the $300 support level and it is currently trading with a positive bias. On the upside, a break above the $305 and $310 resistance levels is must for more gains above the $320 level.
On the downside, the main support is at $292 and $290, below which the price could move back in a bearish zone in the near term.
Binance Coin (BNB), EOS, Tron (TRX) Price Analysis
EOS price climbed above the $5.50 level, but it struggled to gain momentum and it is currently consolidating in a tight range. On the upside, a break above the $5.55 level is needed for more upsides above the $5.60 resistance area. On the downside, the price could test the $5.42 support level.
Tron price faced a strong barrier near the $0.0265 and $0.0268 resistance levels. TRX price recently corrected lower and tested the $0.0262 level. The next key support is at $0.0260, where buyers are likely to emerge in the coming sessions.
Binance coin (BNB) extended gains above the $20.00 and $22.00 resistance levels. BNB price is up more than 6% and it is currently consolidating near the $25.00 level. There could be a short term downside correction, but the $24.00 and $23.60 levels are likely to act as supports. On the upside, the bulls might target a new all-time high above the $30.00 level.
Looking at the total cryptocurrency market cap hourly chart, there was a steady rise above the $162.00B level. The market cap broke the $168.0B and $170.0B resistance levels. The main resistance is at $180.0B, above which there could be a sharp rally towards the $195.0B level. On the downside, there is a key bullish trend line in place with support near the $169.0B level. Therefore, if there is a downside correction, dips remain supported in bitcoin, ether, TRX, LTC, EOS, ripple, ADA, XLM, WAN, BCH, XMR and other altcoins in the near term.