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Crypto Market Cap And Bitcoin Facing Hurdles: BCH, BNB, EOS, TRX Analysis
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Crypto Market Cap And Bitcoin Facing Hurdles: BCH, BNB, EOS, TRX Analysis

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

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  • The total crypto market cap is struggling to surpass the $200.0B resistance area.
  • Bitcoin price is also facing a lot of hurdles near the $7,400 and $7,440 levels.
  • EOS price is holding the $2.500 support, but it is struggling to clear the $2.850 resistance.
  • Binance Coin (BNB) is currently consolidating above the main $15.00 support.
  • BCH price is currently above the $205 support and attempting a break above the $215 resistance.
  • Tron (TRX) price seems to be trading in a range above the $0.0150 support area.

The crypto market cap and bitcoin (BTC) are struggling to gain bullish momentums. Ethereum (ETH), binance coin (BNB), ripple, BCH, tron (TRX), litecoin and EOS are facing hurdles.

Bitcoin Cash Price Analysis

After a short term downside reaction, bitcoin cash price found support near the $205 level against the US Dollar. The BCH/USD pair is currently trading in a range above the $205 support area and it is facing a strong resistance near the $215 level.

The next key resistance is near the $225 level, above which there are chances of a decent rise towards the $240 level. On the downside, a close below $200 might start a fresh decrease.

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

EOS price managed to settle above the $2.500 and $2.600 support levels. However, the price is finding it hard to clear the main $2.850 resistance area. If it succeeds, the next stop for the bulls could be $3.000. On the downside, only a close below $2.500 might put the bulls under pressure.

Tron price is currently consolidating above the key $0.0150 support area. On the upside, TRX price is facing resistance near the $0.0158 and $0.0160 levels. A successful close above the $0.0160 resistance is likely to lead the price towards the $0.0165 and $0.0167 levels.

Binance coin (BNB) remained confined in a range above the $14.50 and $15.00 support levels. On the upside, there is a solid resistance forming near the $16.00 area. Once BNB price settles above the $16.00 resistance, it could gain bullish momentum in the near term.

Crypto Market Cap Bitcoin
Crypto Market Cap

Looking at the total cryptocurrency market cap 4-hours chart, there was a bearish reaction from the $208.0B resistance area. The crypto market cap declined below the $200.0B support and tested the $188.0B zone. It is currently correcting higher, but facing resistance near the $200.0B area.

To start a fresh increase in bitcoin, Ethereum, TRX, LTC, EOS, ripple, ADA, XLM, WTC, BCH, and ICX, the market cap must surpass the $200.0B and $208.0B resistance levels. If not, it could decline further towards $182.0B and $175.0B.

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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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