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Breaking News: REX Shares Claims Its DOGE And XRP Spot ETFs Will Be Approved By US SEC Tomorrow
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Breaking News: REX Shares Claims Its DOGE And XRP Spot ETFs Will Be Approved By US SEC Tomorrow

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

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

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  • The total crypto market cap is currently recovering, but it is facing resistance near $220.0B.
  • Bitcoin price is up around 5%, but it is also facing hurdles near $8,300 and $8,350.
  • EOS price extended its gains above the $3.000 resistance and tested $3.200.
  • BCH price is up around 5% and it is trading near the key $240 resistance area.
  • Tron (TRX) price rallied 10% and broke the $0.0160 resistance level.
  • Cardano (ADA) price rebounded 5%, but it is still well below the $0.0450 and $0.0500 levels.

Bitcoin and the crypto market cap are rebounding, but facing hurdles. Ethereum (ETH), EOS, Tron (TRX), BCH, ripple, ADA and BNB are showing positive signs.

Bitcoin Cash Price Analysis

After forming a support base above the $205 level, BCH price corrected above the $220 level against the US Dollar. The price even surpassed the $225 and $230 levels. The price is now testing the $240 resistance area, which is acting as a strong barrier for more upsides.

If there is a downside correction, the price could test the $230 level. The main support on the downside is near the $220 level, below which the price could test the $205 support.

EOS, Tron (TRX) and ADA Price Analysis

EOS price remained in a positive zone above the $2.850 support area. It broke the key $3.000 resistance and recently gained bullish momentum above the $3.100 level. The price is now testing the $3.200 resistance and it might correct a few points in the near term.

Tron price started a strong rise above the $0.0150 resistance area. TRX price gained more than 10% and it recently surpassed the $0.0160 resistance area. The price tested the $0.0165 resistance and it is currently consolidating gains. The main supports on the downside are near the $0.0160 level.

Cardano price started a slow recovery and it recently climbed above the $0.0400 resistance. ADA price is now trading near $0.0420 and it is facing a strong resistance near the $0.0450 level. If there are more gains, the price could test the key $0.0500 resistance area. The main support on the downside is near $0.0400 and $0.0395.

Bitcoin Crypto Market Altcoins ETH XRP EOS BNB TRX ADA LTC

Looking at the total cryptocurrency market cap 4-hours chart, there was a steady recovery from the $200.0B support area. The market cap climbed above the $208.0B resistance and a connecting bearish trend line on the same chart. However, it is now facing a strong resistance near the $220.0B level and the 100 SMA. If there is an upside break above the $220.0B resistance, there could be more gains in bitcoin, ETH, XRP, TRX, ADA, bitcoin cash, litecoin, EOS, stellar, IOTA, ICX, WAN, 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

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Created by industry experts and meticulously reviewed
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