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Breaking News: Bitcoin Price To Recover $100,000: BTIG Cites Key Reasons For Optimism
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Breaking News: Bitcoin Price To Recover $100,000: BTIG Cites Key Reasons For Optimism

Crypto Market Update: Stellar (XLM), Bitcoin Cash, Tron (TRX), ADA Price Analysis

Aayush Jindal
Aayush Jindal
Last Updated: June 11, 2024 1:32 pm
2 mins read
technical analysis altcoins

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Created by industry experts and meticulously reviewed
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Key Points

  • The total crypto market cap recovered above $105.00B, but struggled near $113.00B.
  • Stellar (XLM) price is up around 2%, but it is facing sellers near $0.1250.
  • Bitcoin cash price is back above the $100 level and it could correct towards $115.
  • Tron (TRX) is struggling to move past the $0.0150 resistance level.
  • Cardano (ADA) price is consolidating above the $0.0300 support level.

Bitcoin cash recovered and surpassed the BCHSV value. Stellar (XLM), Tron (TRX) and Cardano (ADA) are up around 2% with a minor bullish angle.

Bitcoin Cash Price Analysis

After trading below the $100 level, bitcoin cash price found support near the $92 level. Later, BCH recovered above the $95 and $100 levels. More importantly, the price also surpassed the value of BCHSV. However, there are many resistances on the upside near the $110 and $115 levels.

A proper close above the $115 level is needed for a decent recovery above $125. If not, there is a chance of a fresh decline below the $100 and $95 support levels. The main support is at $88-90 zone.

Stellar (XLM), Tron (TRX) and ADA Price Analysis

After trading towards the $0.1050 support level, XLM staged a short term recovery. The price recovered above the $0.1100 and $0.1150 resistance levels, but upsides were capped near $0.1250. A proper break above $0.1250 is needed for more gains. On the downside, the key supports are $0.1100 and $0.1050.

Tron price seems to be consolidating above the $0.0120 level, with resistances at $0.0140 and $0.0150, above which TRX could move towards $0.0200. The key support is at $0.0128 followed by $0.0122.

Cardano price moved back above the $0.0300 resistance level after trading as low as $0.0270. ADA must gain pace above the $0.0340 and $0.0350 resistance levels to trade towards the $0.0400 level in the near term.

total cryptocurrency market cap hourly chart

Looking at the total cryptocurrency market cap hourly chart, there are a few bullish signs emerging, but it is clearly facing a lot of hurdles near the $113.35B level. There is also a bearish trend line place on the same chart, with current resistance at $112.00B. Therefore, if the total market cap surpass the $112.00B and $113.00B levels, there are chances of a decent recovery in Bitcoin, Ethereum, ripple, and other altcoins in the near term.

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Aayush Jindal
Aayush Jindal

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.

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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.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

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