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Breaking News: Bitcoin Outlook Post Fed's 0.25% Rate Cut: Historical Patterns And Predictions
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Breaking News: Bitcoin Outlook Post Fed's 0.25% Rate Cut: Historical Patterns And Predictions

Bitcoin Cash, Tron (TRX), BNB, LTC & EOS Could Continue To Outperform

Aayush Jindal
Aayush Jindal
Last Updated: June 11, 2024 1:39 pm
2 mins read
technical analysis altcoins

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  • The total crypto market cap is holding a major support area near the $158.0B level.
  • EOS price is trading nicely above $5.15 and it may climb towards the $5.40 level in the near term.
  • Binance Coin (BNB) seems to be setting up for a break above the $20.00 level.
  • Bitcoin cash price corrected lower after trading close to the $350 resistance.
  • Tron (TRX) price is gaining momentum and it is currently up around 5% to $0.0272.

Bitcoin cash, litecoin, tron (TRX), binance coin (BNB) and EOS are setting up the next break. The crypto market remains supported and dips in bitcoin (BTC), Ethereum (ETH) and ripple remain well bid.

Bitcoin Cash Price Analysis

Bitcoin cash price was the best performer in the top 10 coin as it broke the $300 resistance level against the US Dollar. The BCH/USD pair even broke the $320 level and traded close to the $350 resistance. Recently, it started a downside correction and declined sharply below the $300 level.

However, the $275-280 support is acting as a strong buy zone. Therefore, the price is likely to bounce back as long as there is no close below the $275 support area.

EOS, Tron (TRX) and BNB Price Analysis

EOS price settled above the $5.00 and $5.10 support levels. The price is currently consolidating above the $5.15 level and it seems like it could trade above the $5.20 and $5.30 levels. The next stop could be $5.40, above which the price may climb towards the $5.75 and $5.80 levels.

Tron price is trading nicely and it recently gained more than 5%. TRX price recently broke the $0.0265 and $0.0270 resistance levels to move into an uptrend. If buyers remain in action, there are chances of more gains above the $0.0280 and $0.0295 resistance levels in the coming sessions.

Binance coin (BNB) spiked towards the $20.00 resistance level, but it could not gain pace above $20.00. BNB is currently consolidating above the $19.00 level and it seems to be preparing for the next wave. If there is an upside break above $20.00, there could be a sharp rally towards the $22.00 level. If not, the price may decline to $17.50.

Bitcoin Cash, Tron (TRX), BNB, LTC & EOS Crypto Market

Looking at the total cryptocurrency market cap hourly chart, there was a downside correction from the $178.0B and $180.0B resistance levels. The market cap declined below the $170.0B level, but the $158.0B level acted as a strong support. It represents the 50% Fib retracement level of the last wave from the $136.8B low to $178.3B high. Therefore, as long as the market cap is above $157.6B level, there could be a fresh increase in bitcoin, ETH, TRX, LTC, EOS, BNB, ripple, ADA, XLM, WAN, BCH, XMR and other altcoins 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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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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