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Breaking News: Bitcoin Price Falls Under $100,000: Elliott Wave Analysis Forecasts Decline To $70,000
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Breaking News: Bitcoin Price Falls Under $100,000: Elliott Wave Analysis Forecasts Decline To $70,000

Crypto Market Update: Stellar (XLM), Bitcoin Cash, Tron (TRX), ADA Price Analysis 2019-01-30

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 slowly recovering towards the key $110.00B resistance level.
  • Stellar (XLM) price settled below the $0.1000 support level, with a bearish angle.
  • Bitcoin cash price recovered around 3% and moved above the $112 resistance.
  • Tron (TRX) tested the $0.0270 support and recovered a few points.
  • Cardano (ADA) price found support and it seems like it could test the $0.0395 resistance level.

The crypto market is currently correcting higher. Bitcoin (BTC), Ethereum, ripple, BCH, Stellar (XLM), Tron (TRX), EOS and Cardano (ADA) may recover in the short term.

Bitcoin Cash Price Analysis

After trading below the $110 support, bitcoin cash found support against the US Dollar. BCH/USD started a short term upside correction and moved above the $110 and $112 levels. However, there are many hurdles on the upside near the $115 and $116 resistance levels.

On the downside, the most important support is near the $110 level, below which there is a risk of more losses towards the $105 support level.

Stellar (XLM), Tron (TRX) and ADA Price Analysis

Stellar price was under a lot of pressure recently as it broke the key $0.1000 support level. XLM even traded below the $0.0900 support and traded close to the $0.0800 level. It is currently consolidating losses with bearish moves below $0.0900.

Tron price found support near the $0.0270 level and later recovered. TRX price is up more than 3% and it seems like it may rise towards the $0.0285 and $0.0290 resistance levels in the near term.

Cardano price traded towards the $0.0365 support level and later corrected higher. ADA price is currently trading above the $0.0385 level and it could continue to move higher towards the $0.0395 and $0.0400 levels.

Crypto Market Cap, Bitcoin (BTC), Ethereum, ripple, BCH, Stellar (XLM), Tron (TRX), EOS and Cardano (ADA)

Looking at the total cryptocurrency market cap hourly chart, the $106.5B level acted as a strong support. The market started a decent recovery and moved above the $107.00B and $108.00B levels. However, there is a strong resistance formed near $110.00B and a bearish trend line on the same chart. A proper break above $110.00B is needed for more gains towards $115.00B. If not, bitcoin, Ethereum, EOS, stellar, LTC, EOS, ripple, TRX and other altcoins could resume the decline.

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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

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