Bitcoin And Crypto Market Remain In Uptrend: BCH, EOS, TRX, ADA Analysis

• The total crypto market cap is consolidating below the $245.0B and $250.0B resistances.
• Bitcoin price is facing a strong resistance near the $9,400 and $9,500 levels.
• EOS price is currently trading in a range above the key $3.300 support area.
• BCH price rallied recently and tested the main $300 resistance area.
• Tron (TRX) price is extending gains and it is trading nicely above $0.0200.
• Cardano (ADA) price is now trading above the key $0.0420 resistance area.

Bitcoin and the crypto market cap positioned nicely in a bullish zone. Ethereum (ETH), EOS, Tron (TRX), BCH, ripple, ADA and BNB are showing positive signs.

Bitcoin Cash Price Analysis

Recently, BCH price started a strong rise above the $250 and $265 resistance levels against the US Dollar. The price even rallied above the $285 resistance and tested the $300 area. A high was formed near the $308 level and the price is currently correcting gains.

An immediate support is near the $285 and $280 levels. If there are more downsides, the price could test the main $265 support area in the coming days. On the upside, there are many hurdles near $300 and $305.

EOS, Tron (TRX) and ADA Price Analysis

EOS price gained bullish momentum after it broke the $3.150 resistance area. The price gained traction above $3.250 and even climbed towards the $3.450 level. The price is currently consolidating above the $3.300 support and it could rise again towards the $3.450 and $3.500 levels.

Tron price rallied significantly in the past few days and surpassed many hurdles near $0.0185 and $0.0200. TRX price is now trading nicely above $0.0210 and it could continue to rise towards the $0.0225 and $0.0235 levels. On the downside, the previous resistance near the $0.0200 level might act as a strong support.

Cardano price managed to recover recently and climbed above the $0.0400 and $0.0420 resistance levels. ADA price might continue to rise and it is likely to test the $0.0440 and $0.0450 resistance levels in the near term.

Crypto Market Cap

Looking at the total cryptocurrency market cap 4-hours chart, there was a sharp rise above the $205.0B and $220.0B resistance levels. The market cap even rallied above the $250.0B level and topped near the $265.0B level. It is currently consolidating in a range and inside a contracting triangle with resistance near $245.0B. If there is a clear break above the $250.0B resistance, the market cap could rise further.

On the downside, the main supports are near $235.0B and $225.0B. Overall, there are chances of more gains in bitcoin, ETH, XRP, TRX, ADA, bitcoin cash, litecoin, EOS, stellar, IOTA, ICX, WAN, and other altcoins in the near term.

The post Bitcoin And Crypto Market Remain In Uptrend: BCH, EOS, TRX, ADA Analysis appeared first on NewsBTC.

by Aayush Jindal on October 30, 2019 at 10:30AM