Crypto Market Could Rally Further: Bitcoin Cash, BNB, EOS, TRX Price Analysis

Aayush Jindal

1 year ago

2 mins read

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The total crypto market cap gained momentum and climbed towards the $288.0B level.
Bitcoin price surged more than 5% and it recently traded towards the $9,750 level.
EOS price is likely to gain momentum once it settles above the key $7.000 resistance level.
Binance Coin (BNB) is up more than 4% and it recently broke the $36.20 resistance.
Bitcoin cash price is back above the $420 level and it could continue to climb towards $430.
Tron (TRX) price is still struggling to gain pace above the $0.0335 and $0.0340 resistances.

The crypto market cap jumped more than $10B, with sharp gains in bitcoin (BTC) and Ethereum (ETH). Binance coin (BNB), BCH, ripple, tron (TRX), litecoin and EOS are also signaling an upward move.

Bitcoin Cash Price Analysis

After testing the $400 support area, bitcoin cash price started a fresh increase against the US Dollar. The BCH/USD pair broke the key $410 and $415 resistance levels to avoid further losses. It is now trading above the $420 level and it seems like there could be more gains towards the $430 and $435 levels.

On the downside, the $420 level might act as a support, below which there is a risk of a fresh decline towards the $410 level.

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

EOS price steadily climbed from the $6.665 support area. It broke the $6.800 and $6.900 resistance levels. It is likely to continue higher above the $7.000 resistance level. If there is a proper close above $7.000, the price is likely to gain momentum towards $7.200 and $7.225.

Tron price is struggling to climb above the $0.0335 and $0.0340 resistance levels. TRX price is now trading near the $0.0330 support and there is a risk of more losses. If it stays above $0.0330, there could be a fresh increase above the $0.0340 level.

Binance coin (BNB) is following bitcoin and it recently surged above the $35.00 and $36.00 resistance levels. BNB price is up more than 4% and it is currently trading near the $36.50 level. If there are more gains, the price could test the $37.00 or $37.20 resistance.

Looking at the total cryptocurrency market cap 4-hours chart, there was a major upward move above the $275.0B and $280.0B resistance levels. The market cap even climbed to a new monthly high above the $285.0B level. It moved towards the $288.0B level and it is currently retreating from highs. On the downside, there are many supports near the $282.0B and $280.0B levels. On the upside, the market cap could test $295.0B or even $300.0B. Therefore, there could be more gains in bitcoin, Ethereum, TRX, LTC, EOS, ripple, ADA, XLM, WTC, BCH, and ICX in the near term.

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.