Crypto Market Showing Positive Signs: Bitcoin Cash, EOS, TRX, ADA Analysis

Aayush Jindal

1 year ago

2 mins read

Bitcoin Crypto Market Altcoins BCH ETH XRP BNB ADA TRX EOS

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The total crypto market cap stayed above the key $265.0B support area and climbed higher.
Bitcoin price is up more than 1.5% and it is trading with a positive bias.
EOS price is slowly moving higher towards the key $7.00 resistance area.
Bitcoin cash price is back above the $410 level and it could continue to rise towards $425.
Tron (TRX) price is trading nicely above the $0.0330 level and it could revisit $0.0350.
Cardano (ADA) price is struggling to move towards the $0.0950 resistance area.

The crypto market cap is gaining pace, with bullish moves in bitcoin (BTC) and Ethereum (ETH). EOS, Tron (TRX), BCH, ripple, ADA, BNB, and other altcoins could climb higher in the near term.

Bitcoin Cash Price Analysis

Recently, bitcoin cash price corrected lower and tested the $400 support area against the US Dollar. The BCH/USD pair remained well bid and started a fresh increase above $405 and $410. The pair even broke the $415 level and it is likely to continue higher towards the $425 level.

On the downside, an initial support is near the $410 level. If the pair fails to stay above the $410 level, it could retest the main $400 support.

EOS, Tron (TRX) and ADA Price Analysis

EOS price tested the $6.600 support area and it is currently recovering. The price traded above the $6.800 resistance, but it facing a lot of hurdles on the upside near the $6.950 and $7.000 levels. A close above $7.000 is must for a bullish continuation.

Tron price mostly traded in a range and it is currently trading above the $0.0330 level. TRX price could continue to rise, but it won’t be easy for the bulls to clear the $0.0350 resistance. The main support on the downside is at $0.0320.

Cardano price remained above the $0.0800 level and recently climbed above $0.0850. ADA price is showing positive signs, but there are many resistances waiting on the upside, including $0.0900 and $0.0920. The main resistance is near the $0.0950 level, followed by $0.0980.

Looking at the total cryptocurrency market cap hourly chart, there a strong bounce from the $265.0B support area. The market cap started a fresh increase and it recently climbed above the $270.0B and $272.0B resistance levels. It is now trading nicely above a key bullish trend line with current support near $272.0B. On the upside, an immediate resistance is near the $278.0B level, above which the market cap could accelerate towards $280.0B and $285.0B. The overall price action is positive and suggesting more gains in bitcoin, ETH, XRP, TRX, ADA, bitcoin cash, litecoin, EOS, stellar, IOTA, ICX, WAN, and other altcoins in the coming sessions.

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.