- The total crypto market cap recovered recently, but it could struggle near the $108.50B resistance.
- Binance coin (BNB) extended gains and traded above the $8.00 resistance.
- Bitcoin SV price gained more than 8% and broke the $60.00 resistance area.
- Tron (TRX) is slowly moving higher towards the $0.0265 resistance level.
- Cardano (ADA) price is currently consolidating above $0.0350 and $0.0360.
Bitcoin SV Price Analysis
After a steady, bitcoin SV found support near the $50 level against the US Dollar. After trading in a range for some time BCHSV/USD started an upside move above the $58 resistance. The price gained traction and rallied more than 8% to settle above the $60 resistance.
It is currently trading above the $62 level and it seems like it could continue to move higher towards the $65 and $70 resistance levels.
Binance coin (BNB), Tron (TRX) and ADA Price Analysis
Binance coin price extended gains after it broke the $6.00 and $6.50 resistance levels. BNB price broke the $7.50 and $8.00 resistance levels as well, opening the doors for a push towards the $9.00 or $10.00 resistance.
Tron price traded within a tight range above the $0.0250 support level. TRX might gain traction and it could climb towards the $0.0265 and $0.0272 resistance levels. The main supports on the downside are $0.0255 and $0.0250.
Cardano price declined in the past few days and settled below the $0.0380 support level. ADA tested the $0.0360 support level and it is currently consolidating losses. On the upside, there are many resistances near $0.0372 and $0.0380.
Looking at the total cryptocurrency market cap hourly chart, there was a sharp decline toward the $106.5B support level. Later, the market cap recovered and corrected above the $107.0B and $107.5B levels. However, there is a strong resistance formed near $108.5B, $109.0B, and a bearish trend line on the same chart. Therefore, upsides are likely to remain capped in bitcoin, Ethereum, ADA, ripple, tron, XLM, litecoin and other altcoins in the short term.