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Breaking News: Celsius Founder Alex Mashinsky Receives 12-Year Prison Sentence

Crypto Market Update: Litecoin (LTC), Bitcoin Cash, Tron (TRX), XLM 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 failed to stay above the $110.00B support and declined sharply.
  • Litecoin (LTC) price is consolidating losses above the $30.00 support level.
  • Bitcoin cash price corrected lower and it could test the $110 support level.
  • Tron (TRX) declined more than 5% and it broke the $0.0260 support area.
  • Stellar (XLM) price is under a lot of pressure below the $0.0900 and $0.1000 resistance levels.

The crypto market failed to gain momentum, resulting in a fresh drop in bitcoin (BTC), Ethereum (ETH) and ripple. Other altcoins like litecoin, bitcoin cash and stellar also extended losses.

Bitcoin Cash Price Analysis

Bitcoin cash price traded above the $116 resistance recently against the US Dollar. However, BCH/USD failed to break the $120 resistance and later started a fresh decline. The price declined below the $116 and $115 support levels to move back in a bearish zone.

Going forward, there could be more losses below $112 and the price may even retest the $110 support level in the near term.

Litecoin (LTC), Tron (TRX) and Stellar (XLM) Price Analysis

Litecoin price made another attempt to clear the $33.00 and $34.00 resistance levels. However, LTC failed to gain momentum above $33.00 and declined below $32.00. The price is currently trading near the $31.00 level and it could soon test the $30.00 support before a fresh upward move.

Tron price failed to hold gains above the $0.0275 level and later declines. TRX traded below the $0.0270 and $0.0265 support levels. The price is now trading below $0.0260 and it may perhaps test the $0.0242 support zone.

Stellar price started a major downside move after it broke the key $0.1000 support level. XLM declined below the $0.0900 support and it recently tested the $0.0800 support. If there are more losses, the price may test the $0.0750 level.

Crypto Market Cap, bitcoin, Ethereum, EOS, litecoin, ripple, XLM, BCH, ADA, TRX

Looking at the total cryptocurrency market cap hourly chart, there was a sharp bearish reaction below the $112.00B and $110.00B support levels. The market cap tested the $108.00B support and it is currently consolidating losses. However, there is a risk of more losses below the $108.00B and $107.00B levels. Therefore, bitcoin, Ethereum, EOS, litecoin, ripple, XLM, BCH, ADA, TRX and other altcoins remain at a risk of more losses.

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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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