Crypto Market & Bitcoin Smash Resistance: BNB, BCH, LTC, EOS Analysis

• The total crypto market cap broke a major resistance area near the $188.0B level.
• Bitcoin price is up more than 5% and it broke the $7,400 resistance area.
• Litecoin (LTC) price is slowly rising towards the $48.50 and $49.20 resistance levels.
• BCH price is rising and it managed to climb above the $220 resistance area.
• EOS price is now trading nicely above $2.500 and it might soon test $2.850.
• Binance coin (BNB) is back above $16.00 and it could continue to rise above $16.50.

Bitcoin (BTC) and the crypto market cap are gaining bullish momentum. Many altcoins such as Ethereum (ETH), binance coin (BNB), ripple, litecoin, BCH, EOS, TRX, and ADA are recovering higher.

Bitcoin Cash Price Analysis

After a decent upward move, bitcoin cash price settled above the $200 level against the US Dollar. Moreover, BCH price broke the $210 resistance area and it is now trading near the $220 level. If it breaks the $225 resistance, there are chances of a strong rise in the near term.

If there is a downside correction, the $210 level may perhaps provide support. The main support is near $200, below which the price could resume its decline.

Binance Coin (BNB), Litecoin (LTC) and EOS Price Analysis

Binance coin (BNB) price found support above the $15.00 level and it recently started a decent recovery. BNB price is now trading above the $16.00 resistance and it could continue to rise. An immediate resistance is near the $16.50 level, above which the price is likely to test the $17.20 hurdle.

Litecoin price is holding the $45.50 support area and it is slowly recovering. LTC price is now trading above the $47.00 level, but it is still trading below the main $48.50 and $50.00 resistance levels. On the downside, the main supports are near $45.50 and $44.50.

EOS price is up more than 3% and it is now trading well above the $2.500 and $2.600 levels. An immediate resistance is near the $2.720 level, above which the price might face a strong hurdle near the $2.850 resistance. On the downside, the main support is now near the $2.500 level.

Crypto Market Cap

Looking at the total cryptocurrency market cap hourly chart, there was a break above the key $190.0B resistance and a bearish trend line. It opened the doors for more upsides above $195.0. However, the crypto market cap needs to climb above the main $200.0B resistance to continue higher.

Overall, there are chances of more upsides in bitcoin, Ethereum, EOS, litecoin, ripple, ADA, BCH, XLM, BNB, TRX, XMR, and other altcoins in the near term.

The post Crypto Market & Bitcoin Smash Resistance: BNB, BCH, LTC, EOS Analysis appeared first on NewsBTC.

by Aayush Jindal on November 28, 2019 at 11:00AM