Crypto Market Remains Strong: Bitcoin Cash, BNB, EOS, TRX Price Analysis

Aayush Jindal

1 year ago

2 mins read

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The total crypto market cap grinded higher and tested the $245.0B resistance area.
Bitcoin price is currently consolidating near the $8,000 level.
EOS price broke the $6.30 resistance and it is currently moving towards the $6.40 level.
Binance Coin (BNB) is surging higher and it recently broke the $35.00 resistance.
Bitcoin cash price is trading nicely above the $400 support area.
Tron (TRX) price is slowly moving higher towards the $0.0292 and $0.0295 resistance levels.

The crypto market cap is gaining bullish momentum, with positive moves in bitcoin (BTC) and Ethereum (ETH). Binance coin (BNB) is surging higher, while BCH, ripple, tron (TRX), litecoin and EOS are consolidating gains.

Bitcoin Cash Price Analysis

After a major downside correction, bitcoin cash price started a fresh increase above the $390 and $400 resistance levels against the US Dollar. The BCH/USD pair settled above the $400 level and it recently tested the $410 resistance area.

The price is currently consolidating and it seems like the price may continue to rise above the $410 and $415 resistance levels. On the downside, the main supports are $402, $400 and $395.

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

EOS price climbed above the $6.15 and $6.20 resistance levels. It opened the doors for more gains and the price recently traded above the $6.35 level. The next key resistance is near the $6.45 and $6.50 levels, above which the price could accelerate above the $6.60 level.

Tron price managed to stay above the $0.0265 support level and recently moved above the $0.0272 level. TRX price is currently trading above the $0.0280 level, with many resistances on the upside near $0.0290 $0.0292.

Binance coin (BNB) is performing really well and gaining momentum above the $30.00 and $32.00 levels. BNB price broke the $35.00 level recently and it seems like it could accelerate above the $36.00 level. On the downside, the price may find strong bids near the $34.20 and $33.50 levels.

Looking at the total cryptocurrency market cap 4-hours chart, there was a slow and steady rise above the $225.0B and $230.0B levels. The market cap even broke the $240.0B resistance and a major contracting triangle resistance. It moved towards the $245.0 level and it is currently consolidating gains. An initial support is near the $240.0B level, below which the market cap could find support near the $232.0B level. The main support is near the $226.0B level and the triangle lower trend line at $226.5B. The overall technical structure is positive and it seems like the market cap could continue higher towards $245.0B and $250.0B. Therefore, there could be gains in bitcoin, Ethereum, TRX, LTC, EOS, ripple, ADA, XLM, WTC, BCH, and ICX.

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.

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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.