Binance Coin (BNB) Leading Crypto Market Higher: LTC, TRX, Bitcoin Cash Analysis

Aayush Jindal

1 year ago

2 mins read

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The total crypto market cap gained traction and broke the key $128.0B resistance level.
Binance coin (BNB) price rallied further and broke the $14.00 and $15.00 resistance levels.
Litecoin (LTC) price is up more than 10% and it is about to test the $60 resistance.
Bitcoin cash price is slowly moving higher towards the $136 and $138 resistance levels.
Tron (TRX) price seems to be struggling near the $0.0240 resistance level.

Binance coin (BNB) and litecoin (LTC) rallied and dragged the crypto market higher. Bitcoin (BTC), Ethereum (ETH), ripple, bitcoin cash, TRX, XLM and EOS are likely to continue higher.

Bitcoin Cash Price Analysis

Recently, bitcoin cash price started a decent upward move and traded above the $130 resistance level against the US Dollar. The BCH/USD pair recently settled above the $132 resistance and it seems like it could even surpass the $136 resistance level in the near term.

The next main resistance is near the $138 level, followed by $140. A successful break above the $140 resistance could open the doors for a larger recovery towards the $150 level.

Binance Coin (BNB), Litecoin (LTC) and Tron (TRX) Price Analysis

Binance coin (BNB) price surged higher and broke the $14.00 and $15.00 resistance levels. BNB price is up more than 15% and it single handily dragged the crypto market higher in the past few sessions. The next stop for sellers could be near the $16.50 level, above which it may test the $18.00 level. If there is a downside correction, the $15.00 and $14.00 levels are likely to act as solid supports.

Litecoin price also followed a bullish path and broke the $55.00 resistance level. LTC price is up more than 10% and it seems like buyers are aiming for the $60.00 resistance level in the coming sessions. If there is a downside correction, an initial support is near the $56.00 level. However, the main support is near the $55.00 level.

Tron price recovered recently above the $0.0230 resistance level against the US Dollar. However, TRX price faced a strong resistance near the $0.0240 level and it is currently trading in a tight range above the $0.0232 support.

Looking at the total cryptocurrency market cap hourly chart, there was a break above the key $128.0B resistance level. The market cap is slowly moving higher towards the $130.0B resistance. If there is an upside break above the $130.0B level, there could be more upsides towards the $134.0B and $135.0B resistance levels in the near term. The overall market sentiment is very positive, with chances of more upsides in bitcoin, Ethereum, EOS, litecoin, ripple, BNB, BCH, TRX, ICX, XLM and other altcoins in the near term.

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.

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.

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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.