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

Crypto Market and Bitcoin Facing Hurdles: Bitcoin, BCH, EOS, TRX, ADA Analysis

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

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  • The total crypto market cap recovered recently, but struggled to break the $320.0B resistance.
  • Bitcoin price seems to be struggling to gain momentum above the $11,500 resistance.
  • EOS price is slowly recovering and it could attempt to clear the $6.000 resistance.
  • BCH price climbed back above the $400 resistance area, with a few positive signs.
  • Tron (TRX) price jumped around 10% and is currently trading above $0.0350.
  • Cardano (ADA) price managed to recover above the $0.0800 resistance area and is up around 4%.

Bitcoin price is facing resistance near $11,500 and the crypto market cap is struggling near $320.0B. Ethereum (ETH), EOS, Tron (TRX), BCH, ripple, ADA and BNB are showing a few positive signs.

Bitcoin Cash Price Analysis

After a slow and steady decline, bitcoin cash price found support near the $390 level against the US Dollar. The BCH/USD pair started a decent upward move and recently climbed above the $400 resistance. The pair is currently trading with a positive bias and it could continue to rise towards the $410 resistance.

The main resistances are near the $420 and $425 levels, above which the pair could accelerate gains towards the $440 level. On the downside, the main support area is near $400 and $390.

EOS, Tron (TRX) and ADA Price Analysis

EOS price remained stable above the $5.800 support area and it recently corrected above the $5.900 level. The price is up more than 2% and it seems like the bulls could make an attempt to surpass the key $6.000 resistance area.

Tron price found a strong support above $0.0300 and recently started a strong rise. TRX price is up around 10% and it broke the $0.0325 and $0.0335 resistance levels. It is now above the $0.0350 resistance and it could continue to rise.

Cardano price broke the $0.0800 support level this past week. However, the decline was contained and recently ADA price climbed back above the $0.0800 level. It is currently up 4% and it could soon test the $0.0820 resistance.

Bitcoin Crypto Market Cap Altcoins ETH, XRP, BCH, LTC, EOS, TRX, ADA, BNB

Looking at the total cryptocurrency market cap 4-hours chart, there is a decent support base formed near the $300.0B level. The market cap recently climbed higher and broke the $315.0B resistance. However, it struggled to clear the $320.0B resistance and a major bearish trend line on the same chart. The next key resistance is near the $330.0B level, above which it could test the $340.0B resistance area. On the downside, the main support is near the $300.0B level. Overall, if there is an upside break above the $320.0B resistance level, there could be sharp gains in bitcoin, ETH, XRP, TRX, ADA, bitcoin cash, litecoin, EOS, stellar, IOTA, ICX, WAN, 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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