Crypto Market Extend Gains: Litecoin (LTC), Bitcoin Cash, Tron (TRX), ADA Price Analysis
Key Points
- The total crypto market cap climbed higher and broke the $120.00B resistance.
- Litecoin (LTC) price rallied recently and broke the $30 resistance level.
- Bitcoin cash price surged more than 25% and cleared the $110 resistance.
- Tron (TRX) rallied above the $0.0140 and $0.0150 resistance levels.
- Cardano (ADA) price extended gains above the $0.0350 resistance.
Bitcoin cash rallied recently above $100 and $115. Litecoin (LTC), Tron (TRX), EOS and Cardano (ADA) are gaining pace and they might continue to move higher.
Bitcoin Cash Price Analysis
Bitcoin cash price formed a solid support near the $80 level this past week and later recovered above $90. The upside move was positive as the BCH/USD pair broke the $100 resistance as well. It gained more than 25% in the past few hours and broke the $115 resistance.
On the upside, the next resistance is at $120, above which it could test the $125 resistance. On the downside, an initial support is at $110, below which the price may find strong bids near $105 and $100.
Litecoin (LTC), Tron (TRX) and ADA Price Analysis
Litecoin price started a major upward move and traded above the $25 and $28 resistance levels. LTC price even broke the $30 resistance and it is currently facing hurdles near the $32 and $35 levels.
Tron price finally made a nice bullish move and jumped above the $0.0140 and $0.0150 resistance levels. The price is currently up around 8% and it could soon break the $0.0175 resistance for an upside extension.
Cardano price rallied after it settled above the $0.0300 support. ADA gained pace above the $0.0320 resistance and broke the $0.0350 resistance. It is currently up around 8% to $0.0362 and buyers might push the price towards $0.0380.
Looking at the total cryptocurrency market cap hourly chart, there was a solid upward move above the $110.00B and $115.00B resistance levels. The market cap even cleared the $120.00B resistance and tested the $121.50B level. In the short term, there could be a minor downside correction, but the $115.00B and $114.00B levels are decent supports. Therefore, Bitcoin, Ethereum, EOS, litecoin, ripple, and other altcoins could correct lower in the short term, but dips remain supported.
The post Crypto Market Extend Gains: Litecoin (LTC), Bitcoin Cash, Tron (TRX), ADA Price Analysis appeared first on NewsBTC.
by Aayush Jindal on December 19, 2018 at 11:30AM