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Breaking News: Bitcoin, Ethereum, And XRP In Freefall: What’s Driving The Current Crypto Slump?
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Breaking News: Bitcoin, Ethereum, And XRP In Freefall: What’s Driving The Current Crypto Slump?

Crypto Market and Bitcoin Approaching Resistance: BCH, EOS, TRX, ADA Analysis

Aayush Jindal
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 climbing higher towards the key $272.0B and $275.0B resistance.
  • Bitcoin price is also approaching the main $10,500 resistance area.
  • EOS price is up more than 5% and it may soon test the $3.850 resistance area.
  • BCH price is recovering and it may break the $320 resistance level in the near term.
  • Tron (TRX) price is up around 8%, but it is still well below the $0.0192 and $0.0200 levels.
  • Cardano (ADA) price recently recovered above the $0.0500 resistance level.

Bitcoin price and the crypto market cap are approaching major resistances. Ethereum (ETH), EOS, Tron (TRX), BCH, ripple, ADA and BNB are slowly recovering higher.

Bitcoin Cash Price Analysis

This past week, we saw a sharp decline in bitcoin cash price from well above the $350 level against the US Dollar. The BCH/USD pair broke the $340 and $330 support levels. It even broke $320 and tested the $305 support area. Recently, the price started an upside correction above $310 and is approaching the $320 resistance.

If there is an upside correction above $320, the price could start a decent rise towards the $340 resistance. On the downside, the main support is near the $305 level.

EOS, Tron (TRX) and ADA Price Analysis

EOS price tested the $3.400 support area and recently started an upside correction. The price is currently up around 5% and is trading above the $3.700 level. The main resistance is near $3.850, above which the price could continue to rise towards the $4.000 resistance area.

Tron price declined heavily below the $0.0185 support area. TRX price even declined below $0.0170 and recently started an upside correction. The price is currently up around 8% and it seems like the price might continue to rise towards the $0.0185 and $0.0192 resistance levels in the near term.

Cardano price declined heavily this past week and even tested the $0.0445 area. ADA price is currently correcting higher and it recently broke the key $0.0500 resistance level. If there are more upsides, the price could continue to rise towards the $0.0550 resistance area.

Bitcoin Crypto Market Cap ETH, XRP, BCH, LTC, EOS, TRX, ADA, BNB

Looking at the total cryptocurrency market cap 4-hours chart, there was a decent upward move initiated from the $242.0B swing low. The market cap climbed above the $255.0B resistance and even surpassed the $262.0B barrier. However, there is a major resistance forming on the upside near the $272.0B level and a connecting bearish trend line on the same chart. A successful close above $272.0B and $275.0B might start a strong upward move. If not, there could be another bearish wave 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

Ad discliamer

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