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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Crypto Market And Bitcoin Facing Hurdles: BCH, BNB, EOS, TRX Analysis

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

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Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
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  • The total crypto market cap climbed higher, but it failed to surpass the $272.0B resistance.
  • Bitcoin price surged around 5%, but it was rejected near the $10,500 and $10,600 resistance levels.
  • EOS price settled above the $3.600 level and it is facing hurdles near the $3.700 and $3.800 levels.
  • Binance Coin (BNB) is still trading in a bearish zone below the key $27.50 pivot level.
  • BCH price is trading nicely above the $305 and $310 supports, but struggling near $320.
  • Tron (TRX) price is under a lot of pressure and it is currently well below the $0.01850 resistance.

Bitcoin (BTC) and the crypto market cap are facing many key resistances. Binance coin (BNB), Ethereum (ETH), BCH, tron (TRX), litecoin, ripple and EOS are also struggling to gain traction.

Bitcoin Cash Price Analysis

There was a decent recovery in BCH price above the $305 and $310 resistance levels against the US Dollar. However, the BCH/USD pair is facing a couple of important resistances near the $320 level. Therefore, the price must rise and settle above $320 to continue higher this week.

If there is no upside break above $320, the price could start a fresh decline. A break below the $305 and $300 support levels might push the price towards the $300 level.

Binance Coin (BNB), EOS, Tron (TRX) Price Analysis

EOS price settled above the $3.600 resistance level and traded above the $3.650 level. However, there are many key hurdles forming near the $3.700 and $3.800 levels. A convincing close above $3.800 is needed for an upside acceleration in the near term. On the downside, the main support is near the $3.500 level.

Tron price started an upside correction from the $0.0155 support area. TRX price climbed above the $0.0165 resistance level and is trading above $0.0172. However, the price seems to be struggling to surpass the $0.0185 resistance area.

Binance coin (BNB) declined below the key $27.50 support level to move into a bearish zone. BNB price is currently holding the $26.00 support, but it is facing a lot of resistance near the $26.80 and $27.00 levels. On the downside, a break below $26.00 may perhaps push the price towards the $25.00 level.

Bitcoin Crypto Market Cap ETH XRP BCH LTC EOS TRX ADA BNB ETC

Looking at the total cryptocurrency market cap 4-hours chart, there was an upward recovery from the $250.0B support area. The market cap climbed sharply above the $260.0B resistance and a bearish trend line. However, the $270.0B and $272.0B levels acted as major hurdles. The market cap is trimming gains and is currently near the $260.0B level. It seems like there could be a fresh upward move towards the $272.0B resistance in the coming sessions. However, upsides could be contained in bitcoin, Ethereum, TRX, LTC, EOS, ripple, ADA, XLM, WTC, BCH, and ICX 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.

Read more

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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