Bitcoin (BTC) and the whole cryptocurrency market are trying to gain a bullish momentum. However, the altcoins are facing resistance.
Below is key data for Bitcoin (BTC), EOS (EOS), and TRON (TRX):
|
Name |
Ticker |
Market Cap |
Price |
Volume (24H) |
Change (24H) |
|
Bitcoin |
BTC |
$132,078,868,319 |
$7,305.03 |
$15,585,072,738 |
-0.22% |
|
EOS |
EOS |
$2,526,174,814 |
$2.68 |
$1,412,870,233 |
-1.78% |
|
TRON |
TRX |
$1,014,125,241 |
$0.015208 |
$938,521,435 |
-1.37% |
BTC/USD
The world’s largest cryptocurrency continues to trade sideways without any significant shifts to either a bullish or bearish scenario.
Looking at the 1H chart, BTC rocketed up from the $7,200 mark and has fixed above it. The trading volume remains at its lowest level, confirming the uncertainty of traders on the next movement of BTC. Taking into account the technical indicators, the Bolinger Bands are signaling support around the $7,240 zone. In this regard, traders should consider the resistance at $7,400 as a potential short-term opportunity, where BTC might come back soon.
At press time, BTC is trading at $7,284.
EOS/USD
EOS has not managed to enter the short-term bullish cycle yet because its rate has been reduced by 1.16% since yesterday.
The price of EOS was able to gain a foothold above the $2.5 and $2.6 support levels. However, the momentum is not enough for the price to reach its primary resistance area of $2.850. If it succeeds, the next stop for the buyers could be at $3. Overall, the bulls need to break the triangle pattern in order to confirm the short-term rise.
At press time, EOS is trading at $2.69.
TRX/USD
TRX is also caught in the downward trend as the rate for this altcoin has gone down by less than 1% .
On one hand, TRX’s price is currently hovering above a key support area of $0.0150. On the other hand, the coin meets resistance near the $0.0158 and $0.0160 levels. A successful close above the $0.0160 resistance level could lead the price to the $0.0165 and $0.0167 areas. As a whole, the bulls are likely to seize on the short-term initiative, which is confirmed by the Moving Average Convergence/Divergence (MACD) indicator showing a reversal on the 4H chart.
At press time, TRX is trading at $0.01539.
