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

Crypto Market Update: Binance Coin (BNB), Bitcoin SV, Tron (TRX), ADA Price Analysis

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

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Created by industry experts and meticulously reviewed
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  • The total crypto market cap recovered recently, but it could struggle near the $108.50B resistance.
  • Binance coin (BNB) extended gains and traded above the $8.00 resistance.
  • Bitcoin SV price gained more than 8% and broke the $60.00 resistance area.
  • Tron (TRX) is slowly moving higher towards the $0.0265 resistance level.
  • Cardano (ADA) price is currently consolidating above $0.0350 and $0.0360.

Binance coin (BNB) and bitcoin SV performed really well recently. However, the crypto market, bitcoin (BTC), Ethereum (ETH), TRX, ripple, ADA and others might continue to struggle.

Bitcoin SV Price Analysis

After a steady, bitcoin SV found support near the $50 level against the US Dollar. After trading in a range for some time BCHSV/USD started an upside move above the $58 resistance. The price gained traction and rallied more than 8% to settle above the $60 resistance.

It is currently trading above the $62 level and it seems like it could continue to move higher towards the $65 and $70 resistance levels.

Binance coin (BNB), Tron (TRX) and ADA Price Analysis

Binance coin price extended gains after it broke the $6.00 and $6.50 resistance levels. BNB price broke the $7.50 and $8.00 resistance levels as well, opening the doors for a push towards the $9.00 or $10.00 resistance.

Tron price traded within a tight range above the $0.0250 support level. TRX might gain traction and it could climb towards the $0.0265 and $0.0272 resistance levels. The main supports on the downside are $0.0255 and $0.0250.

Cardano price declined in the past few days and settled below the $0.0380 support level. ADA tested the $0.0360 support level and it is currently consolidating losses. On the upside, there are many resistances near $0.0372 and $0.0380.

Crypto Market Cap, BNB, BTC, BCHSV, ETH

Looking at the total cryptocurrency market cap hourly chart, there was a sharp decline toward the $106.5B support level. Later, the market cap recovered and corrected above the $107.0B and $107.5B levels. However, there is a strong resistance formed near $108.5B, $109.0B, and a bearish trend line on the same chart. Therefore, upsides are likely to remain capped in bitcoin, Ethereum, ADA, ripple, tron, XLM, litecoin and other altcoins in the short 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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