First, some important facts regarding the current state of the crypto market:
- Right now, the cap of the crypto market happens to correct higher in the direction of this resistance; $268-270B.
- The price of the biggest cryptocurrency, Bitcoin also approached to a massive resistance somewhere close to these levels; $10,200 and $10,500.
- The price of EOS has successfully recovered by an incredible 5% and approached to the resistance of $3,650.
- The price of Ethereum Classic skyrocketed by 20% and surpassed the resistance limit of $7.
- The price of Tron (TRX) has risen by 8% and reached the resistance limit of $0.0185.
The giant of the cryptocurrency market, Bitcoin and the entire market cap itself is correcting the recent losses. While some are only on the rise like IOTA and ETC( Ethereum Classic), others such as Ethereum, Litecoin, and Ripple have faced much better days.
Analysis Of The Bitcoin Price
Just after a break beneath the $300 support, the price of the Bitcoin has tested the $290 level when compared to the USD. These two currencies have found support, and they have begun an upside correction, which is surely great news. The USD and BCH happen to trade between these levels; $300 and $305. Nevertheless, this pair is going towards the $315 and $320 levels while making some major resistances.
On the other hand, the $300 support might be short-term support, and very likely, the price will decline beneath that level according to the experts.
Analysis Of EOS, TRX and ETC Price
Recently, a rise in the price of the Ethereum Classic has been established near the support area of $5. The price of the Ethereum Classic ascended 20% and reached the levels of $6.5 and 7$. In the case of a downside correction, the identical resistances, $6.5 and $7 will be the supports.
The price of Tron was recovering when it reached $0.0165, its worst monthly level. TRX price went up by 8%, and right now it trades above the level of $8. Nonetheless, there happens to be a great number of resistances on the upside, just close to the levels of $0.0185 and $0.0192.
The EOS price didn’t get off the course retaining the $3.350 level, and it started to recover pretty well nowadays. Also, the price of this cryptocurrency had a 5% increase and today; it trades close to the resistance of $3.650. If more gains show up soon, the EOS price could go the $3800 resistance really quick. Something that is not so fantastic is that the major supports happens to be $3350 and $3500.
A few days ago, the cryptocurrency market cap went to $250. Meanwhile, by today, it has recovered to $260, but resistance is waiting on the upside close to these levels; $268 and $270B. All in all, the upsides are probably going to remain with, of course, Bitcoin, followed by EOS, TRX, Ethereum Classic, IOTA, ripple and so on.