- Total market capitalization shows signs of recovery above support at $ 108.50 billion.
- The Litecoin (LTC) price is gaining momentum and can trade above the resistance level of $ 35.00.
- The price of Bitcoin Cash is currently consolidating below the resistance level of $ 120.
- The throne (TRX) grew by more than 8% and overcame the resistance zone of $ 0.0275.
- Cardano (ADA) trades unchanged, just above the support level of $ 0.0375.
The cryptocurrency market can recover in the short term.
Bitcoin Cash Analysis
The price of Bitcoin Cash recently fell below the support level of $ 120 against the US dollar. BCH / USD has tested the support level of $ 118 and is currently consolidating in a narrow range. The next move may be either above $ 120 resistance or below support level.
If sellers push the price below the support level of $ 118, downward growth to the support level of $ 115 or $ 112 is possible.
Price Analysis Litecoin, Tron and Cardano
The Litecoin price remained in the positive zone above the support levels of $ 30.00 and $ 32.00. LTC has recently risen above the resistance level of $ 34.00. And, it seems, can continue to move up. The next resistance is at $ 35.00, above which, perhaps, the price may rise to $ 38.00 in the near future.
Price Tron again showed good results and traded above the resistance levels of $ 0.0265 and $ 0.0270. TRX grew by more than 8%. It looks like buyers are testing resistance at $ 0.0285. On the other hand, previous resistance lines at $ 0.0270 and $ 0.0265 are likely to act as support.
The price of Cardano fell below the resistance levels of $ 0.0392 and $ 0.0385. The ADA tested the support level of $ 0.0370 and is currently trading unchanged at around $ 0.0275.
Conclusion
If you look at the hourly chart of the total market capitalization of cryptocurrency, you can see that strong support has formed near the level of $ 108.00 billion and the bullish trend line. If the market rises above the resistance level of $ 110.00 billion and the bearish trend line, a recovery may occur in the near future. Thus, BTC, ETH, XLM, LTC, XRP, TRX, BCH, ADA, EOS, and other altcoins can grow.
