May 6, 2019
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Crypto Market Nearing Key Support: Bitcoin Cash, XLM, EOS, TRX Price Analysis

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  • The total crypto market cap started a downside correction from the $186.8B swing high.
  • Bitcoin price is currently correcting lower towards the $5,650 and $5,600 supports.
  • Bitcoin cash price failed to stay above the $300 support level and declined below $295.
  • EOS price retreated from well above $4.85 and it is currently above the $4.72 support.
  • Stellar (XLM) price failed to settle above the key $0.1000 resistance level.
  • Tron (TRX) is under a lot of pressure and it could retest the $0.0225 support level.

The crypto market cap is correcting gains, with swing moves in bitcoin (BTC) and LTC. Altcoins like Ethereum (ETH), BCH, stellar (XLM), ADA, EOS, ripple, and tron (TRX) are approaching key supports.

Bitcoin Cash Price Analysis

Bitcoin cash price climbed above the $295 and $300 resistance levels this past week against the US Dollar. However, the BCH/USD pair failed to stay above the $300 level and recently started a fresh decline. There was a break below the $295 support and the price tested the $285 support.

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