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Breaking News: Bitcoin Price To Recover $100,000: BTIG Cites Key Reasons For Optimism
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Breaking News: Bitcoin Price To Recover $100,000: BTIG Cites Key Reasons For Optimism

Crypto Market Extend Gains: Litecoin (LTC), Bitcoin Cash, Tron (TRX), ADA Price Analysis

Aayush Jindal
Aayush Jindal
Last Updated: October 7, 2020 11:27 am
2 mins read
technical analysis altcoins

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Key Points

  • The total crypto market cap climbed higher and broke the $120.00B resistance.
  • Litecoin (LTC) price rallied recently and broke the $30 resistance level.
  • Bitcoin cash price surged more than 25% and cleared the $110 resistance.
  • Tron (TRX) rallied above the $0.0140 and $0.0150 resistance levels.
  • Cardano (ADA) price extended gains above the $0.0350 resistance.

Bitcoin cash rallied recently above $100 and $115. Litecoin (LTC), Tron (TRX), EOS and Cardano (ADA) are gaining pace and they might continue to move higher.

Bitcoin Cash Price Analysis

Bitcoin cash price formed a solid support near the $80 level this past week and later recovered above $90. The upside move was positive as the BCH/USD pair broke the $100 resistance as well. It gained more than 25% in the past few hours and broke the $115 resistance.

On the upside, the next resistance is at $120, above which it could test the $125 resistance. On the downside, an initial support is at $110, below which the price may find strong bids near $105 and $100.

Litecoin (LTC), Tron (TRX) and ADA Price Analysis

Litecoin price started a major upward move and traded above the $25 and $28 resistance levels. LTC price even broke the $30 resistance and it is currently facing hurdles near the $32 and $35 levels.

Tron price finally made a nice bullish move and jumped above the $0.0140 and $0.0150 resistance levels. The price is currently up around 8% and it could soon break the $0.0175 resistance for an upside extension.

Cardano price rallied after it settled above the $0.0300 support. ADA gained pace above the $0.0320 resistance and broke the $0.0350 resistance. It is currently up around 8% to $0.0362 and buyers might push the price towards $0.0380.

Crypto Market Cap Total LTC EOS BCH

Looking at the total cryptocurrency market cap hourly chart, there was a solid upward move above the $110.00B and $115.00B resistance levels. The market cap even cleared the $120.00B resistance and tested the $121.50B level. In the short term, there could be a minor downside correction, but the $115.00B and $114.00B levels are decent supports. Therefore, Bitcoin, Ethereum, EOS, litecoin, ripple, and other altcoins could correct lower in the short term, but dips remain supported.

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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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