Bitcoin And Crypto Market Eyeing Fresh Increase: BCH, BNB, EOS, TRX Analysis

Aayush Jindal

1 year ago

2 mins read

Bitcoin Crypto Market Altcoins BCH ETH XRP BNB ADA TRX EOS

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The total crypto market cap is holding an important support area near the $185.0B level.
Bitcoin price is struggling to continue higher and trading close to the $7,200 support.
EOS price is down 2% and it is now trading near the $2.600 support area.
Binance Coin (BNB) is down 3% and it failed to stay above the key $14.00 support.
BCH price is declining towards the $205 and $200 support levels.
Tron (TRX) price is facing a strong resistance near the $0.0136 and $0.0138 levels.

The crypto market cap and bitcoin (BTC) are holding important supports. Ethereum (ETH), binance coin (BNB), ripple, BCH, tron (TRX), litecoin and EOS are struggling to continue higher.

Bitcoin Cash Price Analysis

After a fresh increase above the $205 resistance, bitcoin cash price found resistance near $215 against the US Dollar. The BCH/USD pair failed to continue higher and started a downside correction below $210.

It is now moving closer towards the $205 support area, below which it might test the $200 support. Any further losses could restart downtrend and the price might slide towards the $185 support level.

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

EOS price climbed higher recently above $2.600, but it faced resistance near the $2.700 level. A high was formed near $2.700 and the price started a downside correction. The price is now trading near the $2.600 support, below which it may perhaps test the $2.500 support area.

Tron price is struggling to gain momentum above the $0.0136 and $0.0138 resistance levels. The main resistance is still near $0.0140, above which the price might continue to rise in the near term. On the downside, the key support is near $0.0130, below which the price could decline heavily.

Binance coin (BNB) struggled to climb above the $14.40 area. As a result, BNB price started a fresh decline and broke the $14.20 and $14.00 support levels. The price is now approaching the $13.75 support level, below which it might even test the $13.50 area.

Bitcoin And Crypto Market Cap — Crypto Market Cap

Looking at the total cryptocurrency market cap 4-hours chart, there was a downside correction from the $195.0B resistance area. The crypto market cap declined below the $190.0B support. However, the $185.0B level and a connecting bullish trend line are providing support.

Therefore, there are chances of a fresh increase in bitcoin, Ethereum, TRX, LTC, EOS, ripple, ADA, XLM, WTC, BCH, and ICX in the near term unless the market cap slides below $180.0B.

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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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.