- The total crypto market cap rallied recently and tested the key $128.0B resistance level.
- Litecoin (LTC) price gained more than 12% and it broke the $52 resistance level.
- Bitcoin cash price recovered and traded above the $130 and $132 resistances.
- Tron (TRX) price found support near $0.0220 and it recovered above $0.0230.
- Binance coin (BNB) price extended gains and settled above the $13.00 resistance level.
The crypto market rallied recently before bitcoin (BTC) and Ethereum (ETH) faced strong resistances. Ripple, litecoin, bitcoin cash, TRX, XLM and BNB are trading with a positive bias.
Bitcoin Cash Price Analysis
Bitcoin cash price found support near the $120 level and it recently recovered against the US Dollar. The BCH/USD pair broke the $125 and $130 resistance levels to move into a positive zone. The price is currently up more than 5% and it seems like the price is facing sellers near the $133-134 zone.
If there is a downside correction, the previous resistance near the $130 level may act as a support. However, the main support is near the $125 level, where buyers are likely to protect losses.
Litecoin (LTC), Tron (TRX) and Binance Coin (BNB) Price Analysis
Litecoin price found a strong buying interest near the $42 support level and it recently started a sharp upward move. LTC price rallied more than 12% and it broke the $48 and $50 resistance levels. The price is currently trading above the $52 level, with an immediate resistance near the $54 and $55 levels. On the downside, the $50 level is likely to act as decent support if there is a downside correction.
Tron price found support near the $0.0220 level after a strong and steady decline. TRX price started a short term upside correction and traded above the $0.0230 and $0.0232 resistance levels. However, buyers are likely to face a strong resistance near the $0.0240 level.
Binance coin (BNB) outperformed all major cryptocurrencies and rallied more than 15% in the past three sessions. BNB price cleared the $11.50 and $12.40 resistance levels. Finally, there was a break above the $13.00 barrier and the price settled above $13.40. The next important resistances are $14.00, $14.20 and $14.40.
Looking at the total cryptocurrency market cap hourly chart, there was a strong support base formed near the $120.0B level. The market cap started a strong upward move and broke the $125.0B resistance. There was also a break above a major bearish trend line and the cap climbed above $126.0B. However, it ran into a significant resistance at $128.0B, which acted as a barrier once again. The current price action is positive and it seems like dips remain supported in bitcoin, Ethereum, EOS, litecoin, ripple, BNB, BCH, TRX, ICX, XLM and other altcoins.
The post Crypto Market Rally Facing Resistance: Litecoin (LTC), BNB, BCH Price Analysis appeared first on NewsBTC.
* First published on newsbtc.com
