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Breaking News: XRP Price Predictions: AI Forecasts $4.40 By March 2026, Analysts Target Up To $6
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Breaking News: XRP Price Predictions: AI Forecasts $4.40 By March 2026, Analysts Target Up To $6

Bitcoin And Crypto Market Could Decline Further: BCH, XLM, EOS, TRX Analysis

Aayush Jindal
Aayush Jindal
Last Updated: June 11, 2024 12:49 pm
2 mins read
technical analysis altcoins

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  • The total crypto market cap is currently following a bearish path below the $270.0B resistance.
  • Bitcoin price is now trading below the key $10,300 and $10,200 resistance levels.
  • BCH price is holding the $300 and $305 support levels, but struggling to climb higher.
  • EOS price is consolidating above the $3.500 support level.
  • Stellar (XLM) price is struggling to climb above the main $0.0700 and $0.0720 resistance levels.
  • Tron (TRX) price is moving lower once again towards the $0.0170 and $0.0165 support levels.

Bitcoin (BTC) and the crypto market cap are likely to extend their decline. Ethereum (ETH), BCH, stellar (XLM), ADA, EOS, ripple, and tron (TRX) are also following a bearish bias.

Bitcoin Cash Price Analysis

Recently, BCH price declined below the $310 level against the US Dollar. However, the BCH/USD pair managed to stay above the $300 and $305 support levels. At the moment, the price is consolidating below the $310 resistance level. To move into a positive zone, the price must break the $320 resistance level.

On the downside, the key supports are near $305 and $300. If there is a clear break and close below the $300 support, the price could decline heavily towards the $280 support or $270.

Stellar (XLM), EOS and Tron (TRX) Price Analysis

EOS price is currently consolidating above the $3.500 support level and it seems to be preparing for the next major move. If the price breaks the $3.600 and $3.650 resistance levels, there are chances of a decent recovery towards $4.00. Conversely, a downside break below $3.500 and $3.350 might push the price towards $3.000.

Stellar price is finding bids near the $0.0660 and $0.0680 support levels. However, XLM price is struggling to gain momentum above the $0.0700 and $0.0720 resistance levels. To start a solid upward move, a clear break above $0.0720 and a follow through above $0.0750 is needed in the near term.

Tron price is facing an uphill task near the $0.0180 and $0.0185 resistance levels. TRX price might continue to decline as long as it is below $0.0185. On the downside, the main supports are near $0.0170 and $0.0165.

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

Looking at the total cryptocurrency market cap 4-hours chart, there a steady decline below the $270.0B support level. The market cap is now trading below $262.0B and it remains at a risk of more downsides. On the upside, there is a strong resistance forming near $265.0B, $270.0B, and two bearish trend lines on the same chart. As long as the market cap is below $270.0B, there is a risk of a downside extension in in bitcoin, Ethereum, EOS, ripple, litecoin, bitcoin cash, XLM, TRX, BNB, WAN, WTC, ICX, 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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How Our News is Made

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