Bitcoin Cash Price Analysis
Bitcoin cash price climbed higher recently and settled above the $300 support area against the US Dollar. The BCH/USD pair gained traction after a major cryptocurrency exchange,
There are many positive signs on the charts and it seems like the price may continue to rise towards the $320 and $325 levels in the near term. On the downside, the main supports are $300 and $295.
Litecoin (LTC), EOS and Stellar (XLM) Price Analysis
Litecoin price struggled to gain momentum above the key $82 and $84 levels. LTC started a fresh downward move and broke the $80 support. The price is down more than 5% and it is currently trading near $78. If there are more losses, the price may revisit the $75 support area.
EOS price traded above the $5.40 level recently, but it failed to clear the $5.55 resistance area. As a result, there was a fresh decline and the price broke the $5.40 support area. The next key support is at $5.35, below which there is a risk of a push towards the $5.30 support area.
Stellar price remained in a bearish zone and it recently traded below the $0.1150 support level. XLM price is likely to extend the current decline towards the $0.1100 support area, where buyers are likely to emerge.
Looking at the total cryptocurrency market cap hourly chart, there was a decent recovery from the $158.0B and $160.0B support levels. The market cap climbed above the $165.0B level, but it failed to overcome the $170.0B resistance. There was a bearish reaction and the market cap declined towards the $160.0B support and a connecting bullish trend line. As long as the market cap is above the trend line and $158.0B, it could climb higher. Conversely, a downside break below $158.0B might increase selling pressure on bitcoin, Ethereum, EOS, litecoin, ripple, XLM, BCH, ADA, BNB, TRX and other altcoins in the coming sessions.