The current bullish run engulfing the crypto market shows no signs of ending as most coins are trading in the green zone as of the time of writing. Leading altcoin Ethereum continues its steady movement towards the $200 resistance level with positive gains in the last 24 hours.
Ethereum Intraday Analysis
Ethereum began this ascent yesterday after the coin made a few correction points below the $186 mark. ETH price moved below the $185 level before an upward swing was formed just before the $183 mark which resulted in a fresh increase in value.
This ascent resulted in a new weekly high at the $192 mark which resulted in a temporary price correction to below $190. At the moment, ETH is currently priced at $192.84 which shows that it has successfully broken through the $190 resistance level.
Looking at the chart, Ethereum is currently exhibiting a bullish run. If the rally continues, Ethereum will likely experience an upward surge towards the $195-$200 resistance level. Also, if there is a sudden bearish turn in the market price, ETH could drop to around $185-$188. Such a dip could lead to the risk of an extended price drop towards the $180 support region.
Tron Intraday Analysis
Tron has been making a rebound with positive gains in the last 24 hours of trading. The coin which was recently edged out by Stellar from the top 10th position, and it is currently priced at $0.020554. Tron fluctuated in its intraday value, trading below the $0.0200 support mark at different periods.
However, TRX was able to consolidate with an upward surge to its current price at $0.205. On the upside, a spike in its value would see the coin break above the $0.0205 resistance levels and possibly towards the $0.0220 level. On the downside, a negative spike will see TRX price correct to within the $0.0195 support region.
Litecoin Intraday Analysis
Litecoin has made a small gain of around 1.6% over the last 24 hours as the coin managed to clinch the $63 mark after initially trading at around $61. The uptrend in price value appears to be as a result of investors buying more of the coin which has translated to a rise in its current price.
At present, Litecoin is testing the resistance level of $63 with the bulls in command and an upside rally is expected to occur in the short-term. A positive spike in value will see the coin break through the $63 mark with the next resistance level at $70. On the negative side, if the price falls below $60 this could cause a drop to the $50 region.