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Breaking News: FTX Recovery Trust Set To Disburse $1.6 Billion By Month-End, FTT Price Skyrockets
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Breaking News: FTX Recovery Trust Set To Disburse $1.6 Billion By Month-End, FTT Price Skyrockets

Crypto Market And Bitcoin Bleeding: BCH, BNB, EOS, TRX Price 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 extended losses and broke the key $290.0B support area.
  • Bitcoin price also extended downsides and even spiked below the $10,000 support area.
  • EOS price is currently consolidating above the $5.800 level and is facing resistance near $6.000.
  • Binance Coin (BNB) is holding the key $32.00 support area and it could bounce back.
  • BCH price is trading above the $400 level, but struggling to recover above $420.
  • Tron (TRX) price tested the $0.0320 support and it remains at a risk of more losses.

Bitcoin and the crypto market cap extended declines with bearish moves. Ethereum (ETH), binance coin (BNB), BCH, tron (TRX), litecoin, ripple, and EOS are currently consolidating losses.

Bitcoin Cash Price Analysis

Recently, there was a sharp decline in bitcoin cash price below the $440 and $420 supports against the US Dollar. The BCH/USD pair even spiked below the $400 support and it is currently consolidating above the $400 level. On the upside, there are a few important resistances near the $420 and $425 levels.

If there is an upside break above the $425 level, BCH could start a decent recovery in the near term. On the downside, the main support is near the $400 level, below which the price could decline sharply.

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

EOS price declined heavily below $6.000 before the bulls appeared near the $5.600 level. The price recovered above $5.750 and it is currently consolidating above the $5.800 level. On the upside, a break above the $6.000 level is needed for a decent recovery in the near term.

Tron price settled below the key $0.0350 and $0.0332 support levels. TRX price even spiked below $0.0320 and it is currently trading in a range. To start an upside correction, the price must break the key $0.0332 resistance level.

Binance coin (BNB) declined below the $34.00 and $33.50 support levels. However, it managed to stay above the $32.00 support level and it is currently consolidating. To start a decent upward move, BNB price must move back above the $33.50 and $34.00 resistance levels.

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

Looking at the total cryptocurrency market cap 4-hours chart, there were heavy losses below the $325.0B support area. The market cap stayed above the $290.0B support, but recently failed. It broke the $290.0B support and a bullish trend line. It tested the next main support near the $275.0B level and it is currently correcting higher. However, a break above the $300.0B and $305.0B levels is needed for a decent recovery. If not, there is a risk of more losses in bitcoin, Ethereum, TRX, LTC, EOS, ripple, ADA, XLM, WTC, BCH, and ICX 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

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