Altcoins Dragging Crypto Market Cap Higher: BCH, BNB, EOS, TRX 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 slowly climbing higher and it recently broke the $260.0B resistance.
Bitcoin price is currently trading in a range near the $10,200 level.
EOS price is trading near $4.100 and it could start another upward move.
Binance Coin (BNB) is up more than 6% and it recently surpassed the $21.50 resistance.
BCH price gained more than 5% and it recently broke the $320 resistance area.
Tron (TRX) price rallied 10% and broke the main $0.0165 resistance level.

The crypto market cap gained after a strong rise in Ethereum (ETH) and ripple. Bitcoin (BTC) is consolidating, while binance coin (BNB), BCH, tron (TRX), litecoin and EOS could continue to rise.

Bitcoin Cash Price Analysis

After forming a solid support above the $300 level, BCH price started another upward move against the US Dollar. The BCH/USD pair broke the $310 and $320 levels to move further into a positive zone. The price is up around 5% and it is currently consolidating gains above the $320 level.

On the upside, an immediate resistance is near the $325 level, above which the price could rally towards the $340 level. On the downside, the main supports are near the $310 and $305 levels.

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

EOS price is showing positive signs above the $4.000 and $4.050 levels. The price is currently consolidating above the $4.100 level and it seems like it could start a strong rise towards the $4.400 and $4.500 resistance levels in the near term. Conversely, a break below $4.000 could start a downside correction.

Tron price started a strong rise in the past three sessions above the main $0.0165 resistance area. TRX price is up more than 10% and it recently surpassed the $0.0170 resistance level. It is now trading above $0.0172 and it could soon test the $0.0180 resistance area.

Binance coin (BNB) is showing positive signs and it recently broke the $21.00 and $21.20 resistance levels. BNB price even surpassed the $21.50 resistance and gained more than 6% in the past few hours. The next key resistance on the upside is near the $22.00 level.

Looking at the total cryptocurrency market cap 4-hours chart, there was a slow and steady rise above the $250.0B and $255.0B resistance levels. Bitcoin price remained in range, but it seems like altcoins dragged the market cap higher. Recently, there was a break above the $260.0B resistance, opening the doors for a move towards the $275.0B and $280.0B resistance levels. Overall, bitcoin might correct lower, but there could be more gains in Ethereum, TRX, LTC, EOS, ripple, ADA, XLM, WTC, BCH, and ICX 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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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.