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Breaking News: Bitcoin Price Slips Below $108,000: Peter Schiff Anticipates ‘Brutal’ Bear Market, CZ Responds
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Breaking News: Bitcoin Price Slips Below $108,000: Peter Schiff Anticipates ‘Brutal’ Bear Market, CZ Responds

Bitcoin And Crypto Market Extending Decline: BCH, EOS, TRX, ADA Analysis

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

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Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
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  • The total crypto market cap is below $210.0B and is likely to extend its decline.
  • Bitcoin price is trading below $8,000 and it is moving with a bearish angle.
  • EOS price is down more than 2% and is approaching the $2.700 and $2.650 support levels.
  • BCH price is facing resistance near the $225 level and it could revisit the $200 support area
  • Tron (TRX) price is approaching the $0.0130 level and it might continue to decline.
  • Cardano (ADA) price is down 5% and it recently broke the key $0.0385 support area.

Bitcoin and the crypto market cap are currently extending their decline. Ethereum (ETH), EOS, Tron (TRX), BCH, ripple, ADA and BNB are trading in a bearish zone.

Bitcoin Cash Price Analysis

After a strong decline, BCH price found support near the $200 level against the US Dollar. The price started an upside correction and traded above the $210 level. However, the price struggled to break the $225 resistance level and it is currently trading with a bearish bias.

It seems like the price might once again break the $210 support. If there is a downside break, the price could even break the key $200 support area in the near term.

EOS, Tron (TRX) and ADA Price Analysis

EOS price declined heavily and settled below the $3.000 support area. The price is currently trading below the $2.850 support area and it might soon test the $2.700 or $2.650 support. The main support on the downside is near the $2.500 level. On the upside, a close above $3.000 is needed for a decent recovery.

Tron price is trading in a strong downtrend below the $0.0150 level. TRX price even broke the $0.0140 support and it is currently approaching the $0.0130 level. If there are more downsides, the price could test the $0.0120 level in the coming sessions.

Cardano price is down more than 25% in the past few days and it is now trading well below the $0.0500 level. ADA price broke the $0.0400 support and it is now approaching the $0.0350 support. On the upside, the previous support near $0.0400 may perhaps act as a resistance area.

Bitcoin Crypto Market Altcoins ETH XRP EOS BNB TRX ADA LTC

Looking at the total cryptocurrency market cap 4-hours chart, there are many bearish signs visible below the $210.0B and $220.0B resistance levels. Therefore, there are high chances of a downside break below the $200.0B and $195.0B support levels. The next key support on the downside is near the $180.0B level. Overall, there are many signs, suggesting more downsides 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

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

Strict editorial policy that focuses on accuracy, relevance, and impartiality

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