Crypto Market & Bitcoin Sighting Upsides: BCH, EOS, TRX, ADA Analysis

Aayush Jindal

Last Updated: June 11, 2024 1:25 pm

2 mins read

Bitcoin Crypto Market Altcoins BCH ETH XRP BNB ADA TRX EOS

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The total crypto market cap is currently holding the $250.0B support area.
Bitcoin price is struggling to gain momentum above the $10,400 and $10,500 resistances.
EOS price is up more than 2% and it recently broke the key $4.000 resistance area.
BCH price is back above the $300 pivot level and it could climb towards the $320 level.
Tron (TRX) price is consolidating losses below the $0.0165 resistance area.
Cardano (ADA) price is eyeing an upward move towards the $0.0500 resistance level.

Bitcoin and the crypto market cap are likely eyeing more upsides. Ethereum (ETH), EOS, Tron (TRX), BCH, ripple, ADA and BNB are likely to extend gains.

Bitcoin Cash Price Analysis

After a downside correction, BCH price started a fresh increase above the $290 level against the US Dollar. The price broke the key $300 resistance level to enter a positive zone. It is now trading above the $305 level and it seems like the next stop for the bulls could be near the $320 level.

On the downside, an initial support is near the $302 and $300 levels. If the price fails to stay above $300, it may perhaps decline back towards the $290 support area.

EOS, Tron (TRX) and ADA Price Analysis

EOS price performed really well in the past few days and it broke the main $3.850 resistance. The upward move was such that the price even surpassed the $4.000 barrier. It is now trading above the $4.100 level and it seems like there could be a minor downside correction towards the $4.000 level.

Tron price remained in a bearish zone below the $0.01650 and $0.0160 resistance levels. TRX price is currently trading near $0.0158 and it might continue to face hurdles on the upside near the $0.0165 level.

Cardano price tested the $0.0450 level and recently started an upside correction. ADA price climbed above the $0.0465 level and it seems like it could continue to rise. The main resistance on the upside is near the $0.0500 level, above which it could test the $0.0520 resistance level.

Looking at the total cryptocurrency market cap 4-hours chart, the $245.0B support level acted as a strong support recently. The market cap climbed higher recently and broke the $250.0B resistance level. Moreover, there was a break above a bearish trend line with resistance near $255.0B on the same chart. The current technical structure suggests more upsides above the $260.0B level in the coming sessions. If there is a downside correction, the $245.0B level might provide support. Overall, there can be a slow and steady rise in bitcoin, ETH, XRP, TRX, ADA, bitcoin cash, litecoin, EOS, stellar, IOTA, ICX, WAN, and other altcoins in the near term.

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.

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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.