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Breaking News: Major Win For Memecoins: SEC Affirms They Typically Do Not Qualify As Securities

Crypto Market Rally Facing Resistance: Litecoin (LTC), BNB, BCH Price Analysis

Aayush Jindal
Aayush Jindal
6 years ago
2 mins read
technical analysis altcoins

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  • The total crypto market cap rallied recently and tested the key $128.0B resistance level.
  • Litecoin (LTC) price gained more than 12% and it broke the $52 resistance level.
  • Bitcoin cash price recovered and traded above the $130 and $132 resistances.
  • Tron (TRX) price found support near $0.0220 and it recovered above $0.0230.
  • Binance coin (BNB) price extended gains and settled above the $13.00 resistance level.

The crypto market rallied recently before bitcoin (BTC) and Ethereum (ETH) faced strong resistances. Ripple, litecoin, bitcoin cash, TRX, XLM and BNB are trading with a positive bias.

Bitcoin Cash Price Analysis

Bitcoin cash price found support near the $120 level and it recently recovered against the US Dollar. The BCH/USD pair broke the $125 and $130 resistance levels to move into a positive zone. The price is currently up more than 5% and it seems like the price is facing sellers near the $133-134 zone.

If there is a downside correction, the previous resistance near the $130 level may act as a support. However, the main support is near the $125 level, where buyers are likely to protect losses.

Litecoin (LTC), Tron (TRX) and Binance Coin (BNB) Price Analysis

Litecoin price found a strong buying interest near the $42 support level and it recently started a sharp upward move. LTC price rallied more than 12% and it broke the $48 and $50 resistance levels. The price is currently trading above the $52 level, with an immediate resistance near the $54 and $55 levels. On the downside, the $50 level is likely to act as decent support if there is a downside correction.

Tron price found support near the $0.0220 level after a strong and steady decline. TRX price started a short term upside correction and traded above the $0.0230 and $0.0232 resistance levels. However, buyers are likely to face a strong resistance near the $0.0240 level.

Binance coin (BNB) outperformed all major cryptocurrencies and rallied more than 15% in the past three sessions. BNB price cleared the $11.50 and $12.40 resistance levels. Finally, there was a break above the $13.00 barrier and the price settled above $13.40. The next important resistances are $14.00, $14.20 and $14.40.

Crypto Market Cap Bitcoin Cash Litecoin LTC BCH TRX BNB

Looking at the total cryptocurrency market cap hourly chart, there was a strong support base formed near the $120.0B level. The market cap started a strong upward move and broke the $125.0B resistance. There was also a break above a major bearish trend line and the cap climbed above $126.0B. However, it ran into a significant resistance at $128.0B, which acted as a barrier once again. The current price action is positive and it seems like dips remain supported in bitcoin, Ethereum, EOS, litecoin, ripple, BNB, BCH, TRX, ICX, XLM and other altcoins.

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Aayush Jindal
Aayush Jindal

Aayush Jindal

Aayush Jindal, a luminary in the world of financial markets, whose expertise spans over 15 illustrious years in the realms of Forex and cryptocurrency trading. Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis.

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From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation.
As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape.

In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions.

Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he's trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences.

Aayush's journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department.

At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he's poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush's unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe.

In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

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