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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Bitcoin And Crypto Market Cap Remains Supported: BCH, XLM, EOS, TRX Analysis

Aayush Jindal
Aayush Jindal
1 year ago
2 mins read
technical analysis altcoins

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Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
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  • The total crypto market cap is currently consolidating gains below the $265.0B resistance area.
  • Bitcoin price corrected gains, but it is still trading above the $10,500 support area.
  • BCH price is struggling to move above the $300 resistance and is currently correcting gains.
  • EOS price is currently consolidating gains near the $3.300 support area.
  • Stellar (XLM) price is struggling to continue higher above the $0.0625 and $0.0640 resistances.
  • Tron (TRX) price is still well below the main $0.01600 resistance area.

Bitcoin (BTC) and the crypto market cap are currently consolidating gains. Ethereum (ETH), BCH, stellar (XLM), ADA, EOS, ripple, and tron (TRX) are struggling to retain gains.

Bitcoin Cash Price Analysis

Recently, we saw a nice upward move in BCH price above the $290 resistance levels against the US Dollar. However, the BCH/USD pair struggled to continue higher and failed to surpass the $300 and $305 resistance levels. As a result, there was a downside correction below $295 and the price is currently sliding towards the $290 level.

To continue higher, the price must break the $300 and $305 resistance levels. If not, the price is likely to revisit the $280 support area in the near term.

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

EOS price recovered recently above the $3.350 resistance level. However, the price faced a strong selling interest near the $3.450 and $3.500 levels. As a result, there was a downside correction below $3.400 and the price is currently consolidating near the $3.300 level. The next key support is near the $3.200 level.

Stellar price is remained confined in a range and failed to climb above the $0.0640 and $0.0650 resistance levels. On the downside, the main support is near the $0.0600 level, below which XLM price is likely to decline towards the $0.0550 level in the near term.

Tron price seems to be in a long consolidation mode above the $0.0150 support level. On the upside, there are many important resistances forming near the $0.0158 and $0.0160 levels. A successful close above the $0.0160 level is needed for a sustained upward move in the coming days.

Bitcoin Crypto Market Cap ETH XRP BCH LTC EOS TRX ADA BNB

Looking at the total cryptocurrency market cap 4-hours chart, there was a steady rise above the $240.0B and $250.0B resistance levels. It opened the doors for more gains above $255.0B, but the $265.0B level acted as a strong resistance. The market cap made two attempts to surpass the $265.0B resistance level, but it failed to continue higher. At the moment, the market cap is consolidating below $265.0B, with many supports on the downside near the $255.0B and $250.0B levels. Therefore, there are chances of a fresh increase in bitcoin, Ethereum, EOS, ripple, litecoin, bitcoin cash, XLM, TRX, BNB, WAN, WTC, ICX, 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

Ad discliamer

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