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Breaking News: Bitcoin Price To Recover $100,000: BTIG Cites Key Reasons For Optimism
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Breaking News: Bitcoin Price To Recover $100,000: BTIG Cites Key Reasons For Optimism

Crypto Market And Bitcoin Struggle Continues: BCH, Litecoin, EOS, XLM Analysis

Aayush Jindal
Aayush Jindal
Last Updated: June 11, 2024 1:30 pm
2 mins read
technical analysis altcoins

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  • The total crypto market cap is facing a strong resistance near the $218.0B and $220.0B levels.
  • Bitcoin price failed to gain momentum above $8,300 and recently declined below $8,200.
  • Litecoin (LTC) price is still trading well below the main $60.00 resistance area.
  • Bitcoin cash price is currently correcting gains and it could test the $220.00 support.
  • EOS price failed to surpass the $3.250 resistance and is currently declining towards $3.050.
  • Stellar (XLM) price is currently consolidating gains above the $0.0600 support area.

Bitcoin (BTC) and the crypto market cap are struggling to gain bullish momentum. Ethereum (ETH), LTC, ripple, bitcoin cash, EOS, TRX, and stellar are currently correcting gains.

Bitcoin Cash Price Analysis

After a decent upward move, BCH price faced resistance near the $235 and $240 levels against the US Dollar. The BCH/USD pair is currently correcting lower towards the $225 level. It seems like the price could test the $220 support area in the near term.

The main supports on the downside are near the $205 level. On the upside, a clear break above $240 is needed for more gains towards the $250 and $265 levels.

Litecoin (LTC), EOS and Stellar (XLM) Price Analysis

Litecoin price recovered above the $55.00 and $56.50 resistance levels. However, LTC price struggled to gain momentum above $58.50 and remained well below the key $60.00 resistance area. The price is currently correcting lower and it may perhaps test the $55.00 support area.

EOS price climbed higher recently and tested the $3.250 resistance area, where sellers appeared. The price is currently correcting lower and is trading below the $3.200 level. If there are more downsides, the price could test the $3.050 support area in the near term.

Stellar price climbed higher positively above the $0.0620 level. However, XLM price failed to gain momentum above the $0.0630 level and recently started a downside correction. It seems like the price could test $0.0600 or $0.0595 before starting a fresh increase.

Bitcoin Crypto Market Altcoins ETH XRP EOS BNB TRX ADA LTC

Looking at the total cryptocurrency market cap 4-hours chart, there was a decent upward move above $210.0B. However, the market cap faced a strong resistance near the $218.0B and $220.0B levels. Moreover, the 100 SMA also acted as a crucial resistance. The market cap is currently correcting lower and it could test the $205.0B support area. The main support on the downside is near the $200.0B level, below which there could be a sharp decline in bitcoin, Ethereum, EOS, litecoin, ripple, XLM, BCH, ADA, BNB, TRX, ICX, and other altcoins. Conversely, a clear break above the $220.0B resistance and close above the 100 SMA is needed for an upside acceleration 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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