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

Aayush Jindal

1 year ago

2 mins read

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The total crypto market cap is facing a tough resistance near the $130.0B level.
EOS price is trading nicely above the $3.60 support and it could continue higher towards $3.75.
Binance Coin (BNB) is consolidating above the $15.00 support and it could extend gains.
Bitcoin cash price climbed higher and tested the $135 resistance area.
Tron (TRX) price is about to make the next move either above $0.0230 or below $0.0220.

The crypto market could break higher, with bullish moves in bitcoin (BTC) and Ethereum (ETH). Binance coin (BNB), BCH, ripple, EOS, TRX and ADA are likely to gain traction.

Bitcoin Cash Price Analysis

Bitcoin cash price climbed higher slow and steadily above the $130 and $132 resistance levels against the US Dollar. The BCH/USD pair even broke the $134 level and tested the key $135 resistance. The price is currently consolidating and it seems like it could make an attempt to surpass the $135 resistance level.

On the downside, the $132 level is now a strong support. If there is a break below the $132 support, the $130 level may act as a decent buy zone in the near term.

EOS, Tron (TRX) and BNB Price Analysis

EOS price recovered nicely above the $3.55 and $3.60 resistance levels. However, it is facing a couple of key hurdles near the $3.65 and $3.70 levels. If there is an upside break above $3.70, the price may even climb above $3.75. On the downside, the key supports are $3.60 and $3.55.

Tron price is currently consolidating above the $0.0220 support level. To gain bullish momentum, TRX price must move above the $0.0230 and $0.0235 resistance level. On the other hand, a downside break below $0.0220 may perhaps increase selling pressure on TRX in the coming sessions.

Binance coin (BNB) remained in the positive zone above the $14.50 and $15.00 support levels. BNB price is currently consolidating above the $15.00 support and it could extend gains. On the upside, an initial resistance is near the $15.50 level, above which it could trade above the $16.00 resistance.

Looking at the total cryptocurrency market cap hourly chart, there is a clear strong barrier formed near the $130.0B level. There were many spikes notes near the $130.0B and $130.5B levels. However, there was no follow through above $130.5B. The market cap is currently consolidating near the $130.0B resistance and two bearish trend lines. A successful close above trend lines and a follow through above $131.0B is needed for more upsides in the near term. In the mentioned case, bitcoin, ETH, tron, litecoin, EOS, ripple, cardano, XLM, ICX, BCH, XMR and other altcoins are likely to start a solid upward move.

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.

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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.

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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.