Crypto Market, Bitcoin Surging: Bitcoin Cash, ADA, Litecoin (LTC), TRX Analysis

Aayush Jindal

Last Updated: June 11, 2024 1:39 pm

2 mins read

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The total crypto market cap bounced back after testing the $167.5B level.
Bitcoin price rallied to a new 2019 high above the $5,500 resistance level.
Litecoin (LTC) price is currently consolidating above the $75.00 support area.
Bitcoin cash price is slowly moving higher towards the $295 and $300 resistance levels.
Tron (TRX) price is currently struggling and it could test the $0.0245 support area.
Cardano (ADA) price rallied recently and broke the $0.0750 and $0.0760 resistance levels.

The crypto market cap is climbing steadily, with bullish moves in bitcoin (BTC), Cardano (ADA) and Ethereum (ETH). Ripple, litecoin (LTC), bitcoin cash, TRX, XLM and BNB could extend gains.

Bitcoin Cash Price Analysis

Bitcoin cash price corrected lower and tested the $280 support area against the US Dollar. The BCH/USD pair is currently recovering and recently broke the $290 resistance levels. On the upside, an immediate resistance is at $295, above which the price could face hurdles near the $300 level.

On the downside, the $290 level is a decent support. If buyers lose control again, there is a risk of a fresh decrease towards the $282 or $280 support level.

Cardano (ADA), Litecoin (LTC) and Tron (TRX) Price Analysis

Litecoin price corrected lower below the $80.00 and $75.00 support levels. LTC price tested the $72.00 level and recently climbed back above $75.00. It is currently consolidating above $75.00, with many hurdles on the upside near the $78.00 and $80.00 levels.

Tron price declined heavily and broke the $0.0260 and $0.0252 support levels. TRX price is currently trading below the $0.0250 support, with a bearish angle. There is a risk of more losses towards the $0.0245 or $0.0242 support. On the upside, a break above the $0.0250 and $0.0255 resistances is must for a decent comeback.

Cardano price performed really well after it tested the $0.0720 support area. ADA is up more than 8% and it recently broke the $0.0750 and $0.0760 resistance levels. The next main resistance is at $0.0800, above which the price could start a strong upward move towards the $0.0880 and $0.0900 levels.

Looking at the total cryptocurrency market cap 4-hours chart, there was a minor downside correction recently below the $170.0B support. However, the $167.5B level acted as a strong support along with the 50% Fib retracement level of the last wave from the $159.9B low to $174.5B high. The market cap is again moving higher and it seems like it could surge above the $175.0B and $176.0B levels. The next main resistance is near the previous swing high at $180.0B. If there is another dip, buyers are likely to protect losses below $167.5B and $166.0B. Overall, there are chances of more upsides in bitcoin, Ethereum, EOS, litecoin, ripple, ADA, BCH, TRX, ICX, XLM and other altcoins in the near future.

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.

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.