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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

Crypto Market And Bitcoin Approaching Resistance: ETC, BCH, EOS, TRX 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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Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
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  • The total crypto market cap is currently correcting higher towards the $268.0-$270.0B resistance.
  • Bitcoin price is also approaching towards a major resistance near the $10,200 and $10,250 levels.
  • EOS price recovered more than 5% and it is now trading near the $3.650 resistance.
  • Ethereum Classic price rallied close to 20% and broke the $7.00 resistance area.
  • BCH price is back above $305, but it is facing many hurdles on the upside near $320.
  • Tron (TRX) price is up around 8% and is approaching the $0.0185 resistance area.

Bitcoin (BTC) and the crypto market cap is correcting losses. Ethereum classic (ETC), ICX, tron and IOTA are surging, while BNB, Ethereum, BCH, ripple, litecoin and EOS are facing hurdles.

Bitcoin Cash Price Analysis

After a downside break below the $300 support, BCH price tested the $290 level against the US Dollar. The BCH/USD pair found support and recently started an upside correction. The pair is now trading nicely above the $300 and $305 levels. However, there are many key resistances on the upside near the $315 and $320 levels.

On the downside, the $300 level might act as a short term support, below which the price is likely to resume its decline in the near term.

Ethereum Classic, EOS, Tron (TRX) Price Analysis

There was a sharp increase in Ethereum classic price in the past few sessions from the $5.00 support area. ETC price rallied close to 20% and it broke many important resistances near the $6.50 and $7.00 levels. If there is a downside correction, the same resistances near $7.00 and $6.50 may now act as supports.

Tron price is currently recovering after setting a new monthly low near $0.0165. TRX price is up more than 8% and it is now trading near the $0.0180 level. However, there are many important resistances on the upside near the $0.0185 and $0.0192 levels.

EOS price remained well bid above the $3.350 level and it recently started a decent recovery. The price gained around 5% and it is now trading near the $3.650 resistance. If there are more gains, the price could test the $3.800 resistance in the near term. On the downside, the main supports are $3.500 and $3.350.

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

Looking at the total cryptocurrency market cap 4-hours chart, there was an upside correction initiated from the $250.0B swing low. The market cap recovered above the $260.0B level, but there is a strong resistance waiting on the upside near the $268.0B and $270.0B levels. There is also a crucial bearish trend line forming near $268.0B on the same chart. Therefore, upsides are likely to remain capped in bitcoin, Ethereum, TRX, LTC, EOS, ripple, ADA, XLM, WTC, BCH, and IOTA 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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