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Breaking News: Bitcoin Outlook Post Fed's 0.25% Rate Cut: Historical Patterns And Predictions
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Breaking News: Bitcoin Outlook Post Fed's 0.25% Rate Cut: Historical Patterns And Predictions

Crypto Market And Bitcoin In Correcting Increase: BCH, Litecoin, EOS, XLM Analysis

Aayush Jindal
Aayush Jindal
Last Updated: June 11, 2024 1:30 pm
2 mins read
technical analysis altcoins

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  • The total crypto market cap is holding the key $200.0B support area, with corrective signs.
  • Bitcoin price is currently correcting higher and it recently broke the $8,400 resistance.
  • Litecoin (LTC) price is up more than 6% and it broke the $55.00 resistance area.
  • Bitcoin cash price gained nearly 7% and it managed to break the $230 resistance.
  • EOS price surged more than 10% and it climbed above the $2.850 and $3.000 resistances
  • Stellar (XLM) price is back above the $0.0600 level and it is currently showing positive signs.

The crypto market cap and bitcoin are currently correcting higher. Ethereum (ETH), LTC, ripple, bitcoin cash, EOS, TRX, and stellar are recovering nicely.

Bitcoin Cash Price Analysis

After consolidating above the $210 level, BCH price started a decent upside correction against the US Dollar. The BCH/USD pair broke the $225 and $230 resistance levels. The price is now up more than 6% and it is currently trading near the $233 level.

If there is an upside break above $235, the price could continue to rise towards the $250 resistance. On the downside, the previous support near the $220 level might provide support.

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

Litecoin price found support above the $50.00 level and it recently climbed above the $55.00 resistance area. LTC price is now trading above $57.00 and it may soon test the $60.00 resistance area in the coming sessions. On the downside, the $55.00 level may now act as a support.

EOS price performed really well and it broke the $2.850 and $3.000 resistance levels. The price is up more than 10% and it is trading near the $3.050 level. If there are more upsides, the price could test the $3.200 resistance level in the coming sessions.

Stellar price started a decent upside correction after it broke the $0.0585 resistance level. XLM price even broke the $0.0600 resistance and it is currently testing the $0.0620 resistance level. If there are more upsides, the price might test the $0.0650 resistance area.

Bitcoin Crypto Market Altcoins ETH XRP EOS BNB TRX ADA LTC

Looking at the total cryptocurrency market cap 4-hours chart, the $200.0B support area is acting as a strong barrier for sellers. The market cap is currently correcting higher and it recently broke the $210.0B and $215.0B resistance levels. Moreover, there was a break above a connecting bearish trend line with resistance near $212.0B level. It seems like there could be more upsides towards the $220.0B and $225.0B resistances in the coming sessions. Therefore, there are chances of more upsides in bitcoin, Ethereum, EOS, litecoin, ripple, XLM, BCH, ADA, BNB, TRX, ICX, and other altcoins. Only a close below the $200.0B level might negate the current bullish move.

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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
The highest standards in reporting and publishing
How Our News is Made

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