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Breaking News: Bitcoin Reaches $93,000 Amid Renewed Optimism: What To Keep An Eye On This Week
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Breaking News: Bitcoin Reaches $93,000 Amid Renewed Optimism: What To Keep An Eye On This Week

Crypto Market Update: Litecoin (LTC), Bitcoin Cash, Tron (TRX), ADA Price Analysis 2019-01-22

Aayush Jindal
Aayush Jindal
Last Updated: June 11, 2024 1:33 pm
2 mins read
technical analysis altcoins

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  • The total crypto market cap is currently consolidating above the $112.00B support level.
  • Litecoin (LTC) price is under pressure and it seems to be struggling to stay above the $30 support.
  • Bitcoin cash price is trading in a tight range between the $120 and $130 levels.
  • Tron (TRX) gained more than 8% and broke the $0.0260 resistance level.
  • Cardano (ADA) price is trading flat above the $0.0420 support level.

Bitcoin (BTC), Ethereum (ETH), ripple, litecoin and cardano declined heavily this week. The crypto market is currently ranging, but tron (TRX) made a nice upward move.

Bitcoin Cash Price Analysis

Bitcoin cash price declined recently and tested the $120 support level against the US Dollar. BCH/USD is currently trading in a range and it is consolidating above the $120 support area. On the upside, there are many hurdles near the $125, $128 and $130 levels.

On the downside, the $120 support holds the key. If there is a bearish break below $120, the price could accelerate losses towards the $110 level in the near term.

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

Litecoin price made a sharp downside move recently and traded below the $38 and $35 support levels. LTC even broke the $33 support and tested the $30 support area. It is currently trading in the $30-32 range and preparing for the next move.

Tron price once again performed really well and gained more than 8%. TRX price broke the $0.0250 and $0.0258 resistance levels to set the stage for more gains. The next stop could be $0.0272 in the short term.

Cardano price is currently consolidating above the $0.0420 support level. ADA could make the next move either towards the $0.0450 resistance or towards the $0.0400 support area.

Crypto Market Cap, Bitcoin, Ethereum, EOS, litecoin, ripple, XLM, BCH, TRX

Looking at the total cryptocurrency market cap hourly chart, there is a contracting triangle in place with resistance at $116.00B and support near the $113.20B level. It seems like the market cap is preparing for the next move either above $116.00B or below the $112.00B support level. Therefore, there could be swing moves (bearish or bullish) in Bitcoin, Ethereum, EOS, litecoin, ripple, XLM, BCH, TRX and other altcoins remains 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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