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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Crypto Market Primed For Lift-Off: Bitcoin Cash, Litecoin (LTC), TRX, ADA Analysis

Aayush Jindal
Aayush Jindal
1 year ago
2 mins read
technical analysis altcoins

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  • The total crypto market cap stayed above the key $160.0B support and climbed towards $170.0B.
  • Litecoin (LTC) price recovered recently and moved above the $80 resistance.
  • Bitcoin cash price extended gains and it could move higher towards the $320 level.
  • Tron (TRX) price is currently consolidating above the key $0.0260 support area.
  • Cardano (ADA) price must break the $0.0850 resistance to start a decent upward move.

The crypto market cap is up more than $4 billion, with positive moves in bitcoin (BTC) and Ethereum (ETH). Ripple, litecoin (LTC), bitcoin cash, TRX, XLM and ADA are likely to extend gains.

Bitcoin Cash Price Analysis

Bitcoin cash price started a strong upward move after BSV’s nasty drop against the US Dollar. The BCH/USD pair broke the $300 resistance level to move into a positive zone. The price gained traction and it recently moved above the $310 resistance area.

If the price continues to move higher, it could even surpass the $320 resistance level. On the other hand, if there is a downside correction, the price may perhaps test the $305 support area.

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

Litecoin price traded close to the $75 support area and recently rebounded above $78. LTC even broke the $80 resistance and it is currently trading in a positive zone. On the upside, an immediate resistance is at $82, above which the price is likely to rise towards the $85 resistance area.

Tron price remained under pressure earlier this week and traded below the $0.0272 support. TRX price traded close to the $0.0260 support level and it is currently consolidating. On the upside, a break above $0.0270 and $0.0272 is must for a decent upward move.

Cardano price recovered above the $0.0800 resistance level. ADA price is currently trading above the $0.0820 level, with many resistances near the $0.0840 and $0.0850 levels. On the downside, the main support is at $0.0800, below which the price could test $0.0780.

Crypto Market Cap Bitcoin Cash BCH TRX ADA

Looking at the total cryptocurrency market cap 4-hours chart, the $158.0 and $160.0B support levels proved significant. The market cap stayed above the $160.0B support and a major bullish trend line. It recovered above the $165.0B level and tested the main resistance near $170.0B and the 50% Fib retracement level of the last decline from the $179.9B high to $158.0B low. On the downside, the main supports are $165.0B and $164.0B. Below the trend line, the market cap could revisit the $160.0B support. On the upside, a clear break above the $170.0B resistance is likely to open the doors for more gains in bitcoin, Ethereum, EOS, litecoin, ripple, ADA, BCH, TRX, XMR, XLM 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
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