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

Crypto Market And Bitcoin Starts Fresh Decline: BCH, BNB, EOS, TRX Analysis

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

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Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
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  • The total crypto market cap failed to climb above $325.0B resistance and declined recently.
  • Bitcoin price was rejected near the $12,000 resistance and it recently declined below $11,400.
  • EOS price is currently below $5.850 and it is facing a lot of selling interest.
  • Binance Coin (BNB) is currently flat and is trading nicely above the $32.50 support area.
  • BCH price is down around 4% and it is currently trading near the key $400 support area.
  • Tron (TRX) price failed to hold the $0.0320 support and it remains at a risk of more losses.

Bitcoin and the crypto market cap started a fresh downward move. Ethereum (ETH), binance coin (BNB), BCH, tron (TRX), ripple, litecoin and EOS are currently trading with a bearish angle.

Bitcoin Cash Price Analysis

After a decent recovery, BCH price failed to climb above the $420 resistance against the US Dollar. The BCH/USD pair started a fresh decline and broke a few important supports near the $415 and $410 levels. It is now trading near the $400 support area, below which it could slide towards the $385 level.

On the upside, the $410 and $415 levels are likely to act as resistance. The main resistance is still near the $420 level.

Binance Coin (BNB), EOS, Tron (TRX) Price Analysis

EOS price failed to settle above the key $6.000 pivot level and recently started a fresh decline. It broke the key $5.900 support level and even traded below the $5.85 support level. It is now trading well below the $5.800 level and it could continue to move down towards the $5.600 support area.

Tron price struggled to stay above the main 0.0332 support level. TRX price started a fresh decline and broke the $0.0320 support area. It seems like the price may even test the $0.0305 support level before it could rise again.

Binance coin (BNB) was stable above the $32.00 and $32.50 support levels. There was hardly any decline and BNB price is slowly rising towards the $33.00 level. An upside break above the $33.20 resistance level is needed for a bullish acceleration in the near term.

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

Looking at the total cryptocurrency market cap 4-hours chart, after a decent upward move above the $300.0B and $310.0B resistance levels, there was a rejection near the $325.0B resistance zone. The market cap failed to continue higher and recently started a downside correction. There was a break below the $310.0B support level and the cap tested the $300.0B support area. On the upside, there is a strong resistance forming near $320.0B. On the downside, a break below $300.0B might spark more downsides in bitcoin, Ethereum, TRX, LTC, EOS, ripple, ADA, XLM, WTC, BCH, and ICX in the near term.

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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

Ad discliamer

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