Crypto Market Extend Gains: Litecoin (LTC), Bitcoin Cash, Tron (TRX), ADA Price Analysis
- The total crypto market cap climbed higher and broke the $120.00B resistance.
- Litecoin (LTC) price rallied recently and broke the $30 resistance level.
- Bitcoin cash price surged more than 25% and cleared the $110 resistance.
- Tron (TRX) rallied above the $0.0140 and $0.0150 resistance levels.
- Cardano (ADA) price extended gains above the $0.0350 resistance.
Bitcoin cash rallied recently above $100 and $115. Litecoin (LTC), Tron (TRX), EOS and Cardano (ADA) are gaining pace and they might continue to move higher.
Bitcoin Cash Price Analysis
Bitcoin cash price formed a solid support near the $80 level this past week and later recovered above $90. The upside move was positive as the BCH/USD pair broke the $100 resistance as well. It gained more than 25% in the past few hours and broke the $115 resistance.
On the upside, the next resistance is at $120, above which it could test the $125 resistance. On the downside, an initial support is at $110, below which the price may find strong bids near $105 and $100.
Litecoin (LTC), Tron (TRX) and ADA Price Analysis
Litecoin price started a major upward move and traded above the $25 and $28 resistance levels. LTC price even broke the $30 resistance and it is currently facing hurdles near the $32 and $35 levels.
Tron price finally made a nice bullish move and jumped above the $0.0140 and $0.0150 resistance levels. The price is currently up around 8% and it could soon break the $0.0175 resistance for an upside extension.
Cardano price rallied after it settled above the $0.0300 support. ADA gained pace above the $0.0320 resistance and broke the $0.0350 resistance. It is currently up around 8% to $0.0362 and buyers might push the price towards $0.0380.
Looking at the total cryptocurrency market cap hourly chart, there was a solid upward move above the $110.00B and $115.00B resistance levels. The market cap even cleared the $120.00B resistance and tested the $121.50B level. In the short term, there could be a minor downside correction, but the $115.00B and $114.00B levels are decent supports. Therefore, Bitcoin, Ethereum, EOS, litecoin, ripple, and other altcoins could correct lower in the short term, but dips remain supported.
Coins image via Shutterstock.