Recently, we saw a downside correction below $160 in bitcoin cash against the US Dollar. BCH/USD tested the $150 support area and later bounced back. The price is now trading above the $160 support and it may continue to move higher in the near term.
The current price action is positive, but if there is a downside correction, the price may find bids near the $155 and $154 support levels.
Stellar price traded nicely and settled above the $0.1200 support area. XLM is up around 2.5% today, with an immediate resistance at $0.1250, above which the price may accelerate towards the $0.1300 barrier.
Tron price was one of the best performers recently as it rallied more than 10%. TRX price broke the $0.0250 resistance area, opening the doors for a push towards the $0.0300 hurdle in the coming sessions.
Cardano price is up around 5% and it seems like it is heading towards the $0.0500 resistance. ADA price may accelerate gains towards $0.0520 if there is a clear break of the $0.0500 resistance.
Looking at the total cryptocurrency market cap hourly chart, there is a strong support formed near the $130.00B and $131.00B levels. Recently, there was a downside correction, but the $130.00B level prevented losses. The market cap recovered and it seems like it could move above $135.00B, above which the next stop for buyers could be near the $140.00B level. Therefore, if there are bearish moves in bitcoin, Ethereum, monero, stellar, litecoin, ripple, icon, BNB and other altcoins in the short term, buyers are likely to protect dips.
01/09/2019 / 06:00:54 Source: newsbtc