Crypto Market Up $20 Billion Post Bitcoin Rally: BCH, LTC, EOS, ADA Analysis

Aayush Jindal

1 year ago

2 mins read

Bitcoin Crypto Market Altcoins BCH ETH XRP BNB ADA TRX EOS

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The total crypto market cap found support near the $270.0B level and recently recovered.
Bitcoin price rallied more than 8% and recovered above the $11,000 resistance area.
Litecoin (LTC) price is currently above $120, but facing resistances near $122 and $124.
BCH price is stable above the $400 level and it is slowly moving towards the $420 resistance.
EOS price is likely to trade above the key $6.000 resistance area in the near term.
Cardano (ADA) price is currently consolidating above the $0.0820 support area.

The crypto market cap recovered from $270.0B, with strong gains in bitcoin (BTC) and Ethereum (ETH). Altcoins such as ripple, litecoin, BCH, EOS, tron (TRX), and ADA are slowly correcting losses.

Bitcoin Cash Price Analysis

In the past two days, bitcoin cash price managed to hold losses and recently settled above the $400 level against the US Dollar. The BCH/USD pair is currently correcting higher and it recently broke the $410 level. However, there are many resistances on the upside near the $415, $418 and $420 levels.

On the downside, the main support is near the $400 level, below which the price could move back into a bearish zone. The next supports are near $390 and $382.

Litecoin (LTC), EOS and Stellar (XLM) Price Analysis

Litecoin price failed to stay above the main $130 support level and it even spiked below the $120 support. LTC price is back above the $120 level and it is currently consolidating losses. An immediate resistance is near the $122 level, above which it could struggle to clear the $124 or $125 level.

EOS price stayed above the $5.500 and $5.600 support levels. It recovered above the $5.800 level and it is currently making an attempt to surpass the key $6.000 barrier. The next major hurdles for the bulls are near $6.100 and $6.150.

Cardano price declined heavily and settled below the $0.0850 support level. ADA price is currently consolidating above the $0.0820 support area and it is currently correcting higher. An initial resistance is near $0.0832, followed by $0.0840. The key resistance could be near the $0.0850 level.

Looking at the total cryptocurrency market cap hourly chart, there was a major decline below the $300.0B support area. However, the $272.0B and $270.0B levels acted as strong supports. The market cap start a strong recovery and climbed back above the $285.0B and $290.0B resistance levels. It even broke the $300.0B barrier and it seems to be facing hurdles near the $310.0B level. If there is an upside break above the $310.0B resistance, there could be a decent upward move in bitcoin, Ethereum, EOS, litecoin, ripple, ADA, BCH, XLM, BNB, TRX, XMR, and other altcoins.

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.

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.