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Crypto Market Aims $250 Billion Cap: Bitcoin Cash, Litecoin, EOS, XLM Analysis

  • The total crypto market cap is climbing higher steadily and recently tested the $237.0B level.
  • Bitcoin price is placed nicely above the $8,000 level and it remains supported near $7,800.
  • Litecoin (LTC) price is moving higher towards the $95.00 and $100.00 resistance levels.
  • Bitcoin cash price is currently correcting lower, but it remains supported near $385 and $380.
  • EOS price is now well above the $6.00 level and it seems like the bulls could clear $6.20.
  • Stellar (XLM) price is up more than 10% and it recently cleared the $0.1150 resistance level.

The crypto market cap is gaining pace towards $250 billion, with positive moves in bitcoin (BTC) and Ethereum (ETH). Altcoins such as LTC, ripple, bitcoin cash, EOS, TRX, and stellar remain in an uptrend.

Bitcoin Cash Price Analysis

Bitcoin cash price rallied sharply this week and even tested the main $400 resistance against the US Dollar. The BCH/USD pair failed to stay above the $400 level and recently corrected lower below $395 and $390. An immediate support is near the $385 level, below which the price could test the $380 support.

On the upside, the main resistances are near $395 and $400. A proper close above the $400 barrier could push the price towards the $415 and $420 levels in the near term.

Litecoin (LTC), EOS and Stellar (XLM) Price Analysis

Litecoin price traded above the $85.00 and $90.00 resistance levels. LTC price is now trading above the $92.00 level and it seems like the price may clear the $95.00 resistance. The next crucial barrier for the bulls is near the $100.00 level.

EOS price gained bullish momentum after it broke the $5.80 resistance level. The price climbed significantly and broke the $6.00 and $6.10 levels. EOS is currently well supported and it seems like it could soon break $6.20 and trade towards the $6.40 level.

Stellar price settled above the key $0.1000 resistance level and started a nice upward move. XLM price cleared the key $0.1100 and $0.1120 resistance levels to move into a positive zone. The price is now up more than 12% and it seems like the bulls are aiming a break above the $0.1200 resistance level in the near term.

Crypto Market Cap Bitcoin Cash BTC BCH EOS XLM

Looking at the total cryptocurrency market cap 4-hours chart, there was a steady rise above the $215.0B and $220.0B resistances. The market cap recently broke the $230.0B barrier and climbed towards the $238.0B level. A swing high was formed near $237.3B level and it is currently elevated above $232.0B. It seems like there is a rising channel in place with support near $226.0B. Therefore, there are chances of more upsides in bitcoin, Ethereum, EOS, litecoin, ripple, XLM, BCH, ADA, BNB, TRX, ICX, and other altcoins in the coming sessions.

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Crypto Market Rallies $25 Billion, Bitcoin Up 12%: BCH, LTC, EOS, ADA Analysis

  • The total crypto market cap surged higher and broke the $215.0B and $220.0B resistances.
  • Bitcoin price rallied more than 12% and it recently broke the $8,000 resistance.
  • Litecoin (LTC) price is trading nicely above $90.00 and it could test $95.00 or even $100.00.
  • Bitcoin cash price is likely to break the main $400 resistance level in the near term.
  • EOS price broke the $5.60 and $5.70 resistance levels, and tested $5.95.
  • Cardano (ADA) price is gaining momentum and it could soon break the $0.0800 resistance

The crypto market cap surged above $225.0B, bitcoin (BTC) broke $8,000, and ripple climbed 15%. Ethereum (ETH), litecoin (LTC), BCH, EOS, tron (TRX), and ADA are also accelerating gains.

Bitcoin Cash Price Analysis

There were sharp gains in bitcoin cash price above the $360 resistance level against the US Dollar. The BCH/USD pair climbed more than 12% and broke the $370, $375 and $385 resistance levels. The price even climbed towards the $400 resistance level and it is currently consolidating gains.

In the short term, there could be a few range moves, but the price is likely to break the $400 level. The next key resistance is near the $420 level, where sellers may emerge. On the downside, the main supports are $385 and $375.

Litecoin (LTC), EOS and Stellar (XLM) Price Analysis

Litecoin price climbed higher recently and broke the $82.00 and $86.00 resistance levels. LTC price even broke the $90.00 barrier and it is currently trading near the $92.00 level. On the upside, the next key resistances are near the $95.00 and $100.00 levels.

EOS price is up more than 8% and it recently broke the $5.60 and $5.70 resistance levels. The price is now trading above the $5.85 level and it could soon test the $5.95 and $6.00 barriers.

Cardano price started a strong upward move after it broke the key $0.0700 resistance level. ADA price is up more than 10% and it recently broke the $0.0750 and $0.0760 resistance levels. It seems like the next stop for the bulls is $0.0800, with supports near $0.0760 and $0.0750.

Crypto Market Cap Bitcoin Cash BTC BCH EOS XRP ETH ADA

Looking at the total cryptocurrency market cap hourly chart, there was a sharp rise above the $205.0B resistance level. The market cap gained more than $20 billion and broke the $220.0B resistance. It tested the $226.1B level and it could continue to rise in the near term. An immediate resistance is at $228.0B, above which the next stop could be $230.B. On the downside, there are many supports near the $222.0B, $220.0B and $215.0B levels. Overall, there are chances of more upsides in bitcoin, Ethereum, EOS, litecoin, ripple, ADA, BCH, XLM, BNB, TRX, XMR, and other altcoins.

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Halving Rally: Litecoin’s Price Logs Biggest Monthly Winning Streak Since 2017

Litecoin’s blockchain is set to undergo a mining reward halving in August this year, as it is programmatically designed to do so after every 840,000 blocks are mined or roughly once every four years.

The process is aimed at controlling inflation by reducing the rewards for mining on the blockchain from 25 coins to 12.5 coins and seems to have put a strong bid under the cryptocurrency.

Litecoin has scored gains in each of the previous four months – its longest monthly winning streak since August 2017. Prices rallied 3.8, 46.3, 31.15 and 22 percent in January, February, March and April, respectively, according to CoinDesk data.

Why does the halving matter?

Associating litecoin’s rally with the reward halving makes sense as the process results in reduced production of the cryptocurrency’s supply. Miners will be earning 50 percent fewer coins for every block mined after August and will be adding significantly fewer litecoins to the software’s ecosystem, possibly leading to supply deficit.

Markets are always forward-looking and tend to price in such demand/supply-altering events often times several months in advance.

Backing that argument is historical data which shows the price of litecoin had rallied sharply in seven months leading up to its first reward halving, which took place on August 25, 2016.

Litecoin’s Halving and Price History

Back then, LTC had bottomed out at $1.12 in January 2015 to print a high of $8.72 in July before falling back below $4.00 ahead of Aug. 25.

This time, the cryptocurrency bottomed out $22 in December and has surged by more than 250 percent ever since. The rally may not be over yet as the halving event is still three months away and traders who missed the bus in the first quarter may enter the market in the next few weeks, creating upward pressure on prices.

Also, the implication of a “halving” and its historical impact on price will start getting more attention as the event nears, potentially inviting more buyers to the market.

All said, events that get priced into the value of a traded asset well in advance of the actual date tend to experience a “sell the news” effect once the event has in fact taken place or slightly before it.

Case in point, this is what transpired in the few weeks leading up to litecoin’s first halving in 2015.

As the date approached, investors began to lock in profits by selling the digital asset after it topped out in July 2015, one month prior to the reward halving. The month of the halving itself, in fact, closed with litecoin’s price nearly 40% lower than when it started, further confirming investors lost interest in the cryptocurrency after the highly anticipated halving event had concluded.

After the supply cut, litecoin’s price trend remained sideways for nearly two years before surging to new all-time highs in 2017, potentially laying the blueprint for what is to come after its block rewards are halved once more.

Disclosure: The authors hold no cryptocurrency assets at the time of writing.

Litecoin image via Shutterstock; charts by Trading View

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Crypto Market, Bitcoin Cruising Higher: Bitcoin Cash, Litecoin, TRX, XLM Analysis

  • The total crypto market cap is placed nicely above $180.0B and it could accelerate higher.
  • Bitcoin price is gaining momentum and it recently surged to a new 2019 above $6,050.
  • Litecoin (LTC) price broke the $75 resistance and it seems like it could grind higher towards $80.
  • Bitcoin cash price is once again moving higher towards the key $295 and $300 resistances.
  • Tron (TRX) price broke the $0.0242 resistance to move into a positive zone.
  • Stellar (XLM) price seems to be consolidating below the key $0.0980 and $0.1000 resistances.

The crypto market cap and bitcoin (BTC) are gaining momentum. Ethereum (ETH), litecoin (LTC), ripple, bitcoin cash, tron (TRX), stellar (XLM) and other altcoins might jump higher.

Bitcoin Cash Price Analysis

Bitcoin cash price found support near the $275 level and recently bounced back against the US Dollar. The BCH/USD pair broke the $285 and $290 resistance levels, but it is facing a lot of hurdles on the upside. An initial resistance is at $295, above which the price may test the $300 level in the near term.

If the price fails to break the $300 resistance level, there is a risk of a fresh decline towards the $285 support level. The main support is at $275, below which the price may test $260.

Litecoin (LTC), Tron (TRX) and Stellar (XLM) Price Analysis

Litecoin price found support just below the $70 level and recently recovered higher. LTC price broke the $72 and $75 resistance levels. It is currently trading above the $75 level and it seems like the price might climb higher towards the $78 or $80 resistance.

Tron price finally started a decent recovery above the $0.0238 and $0.0240 resistance levels. It even broke $0.0242 and $0.0245 before starting a downside correction. TRX price is currently above $0.0242 and it seems like it could climb higher above $0.0245 in the near term.

Stellar price is trading well below the key $0.1000 resistance level. XLM price is currently at $0.0950, with an immediate resistance at $0.0965. A break above $0.0965 could push the price towards the $0.0980 or $0.1000 resistance level.

Crypto Market Cap Bitcoin BTC BCH EOS TRX XLM ETH XRP

Looking at the total cryptocurrency market cap 4-hours chart, there was a fresh increase above the $180.0 and $182.0B resistance levels. The market cap recently tested the $186.6B level and the 76.4% Fib retracement level of the last slide from the $189.5B high to $177.3B low. It seems like there is a strong bullish pattern forming with support near the $180.0B level. As long as the market cap is above the $180.0B level, there could be more gains in bitcoin, Ethereum, EOS, litecoin, ripple, XLM, BCH, BNB, TRX, ADA, XMR, and other altcoins in the coming sessions.

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Crypto Market Surging Towards $200 Billion: Bitcoin Cash, EOS, ADA, TRX Analysis

  • The total crypto market cap jumped above the $185.0B level and gaining pace.
  • There was a strong rally in bitcoin price as it traded close to the $6,000 level.
  • EOS price is up around 5% and it seems like it could soon break the $5.00 and $5.05 resistances.
  • Bitcoin cash price is gaining pace and it might clear the $300 barrier once again.
  • Tron (TRX) price is up more than 5% and it recently broke the $0.0242 resistance.
  • Cardano (ADA) price bounced back and it is likely to surpass the $0.0700 resistance.

The crypto market cap, bitcoin (BTC), and Ethereum (ETH) are surging higher. EOS, BCH, ripple, tron (TRX), ADA, BNB, and other altcoins might climb higher in the near term.

Bitcoin Cash Price Analysis

After a downside correction, bitcoin cash price found support near the $270 level against the US Dollar. As a result, the BCH/USD pair started a fresh increase and broke the $280 and $285 resistance levels. The price is now trading near the $295 level and it seems like it could surge above the $300 level in the near term.

The next key resistances are near $310 and $312. On the downside, the $290 level might act as a strong support and a buy zone in the near term.

EOS, Tron (TRX) and ADA Price Analysis

EOS price tested the $4.700 level recently and bounced back. The price is up more than 5% and it seems like it could gain pace above the $5.00 barrier. The next key resistances are near the $5.05 and $5.08 levels. On the downside, the $4.85 level is the main support for the bulls.

Tron price finally formed a decent support base near the $0.0230 level and recently climbed higher. TRX price is up more than 5% and it broke the $0.0240 and $0.0242 resistances. A clear break above the $0.0245 barrier is likely to start a solid upward move towards the $0.0270 and $0.0285 levels.

Cardano price is currently recovering and it recently climbed above the $0.0650 level. ADA price must clear the $0.0685 and $0.0690 levels to move into a positive zone. However, a successful close above $0.0700 could only start a strong upward move in the near term.

Crypto Market Cap Bitcoin Cash BTC BCH EOS ADA TRX ETH XRP

Looking at the total cryptocurrency market cap hourly chart, there was a steady rise above the $175.0B and $178.0B resistance levels. After a minor downside correction, the market cap bounced back above $180.0B resistance and a bearish trend line. It climbed to a new monthly high close to $190.0B and it seems like there could be more upsides towards the $200.0B resistance level. Therefore, there are chances of more gains in bitcoin, ETH, XRP, TRX, ADA, bitcoin cash, litecoin, EOS, stellar, IOTA, ICX, WAN, and other altcoins in the near term.