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Breaking News: Bitcoin Price Tumbles Toward $98,000: What’s Driving The Drop And What Lies Ahead
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Breaking News: Bitcoin Price Tumbles Toward $98,000: What’s Driving The Drop And What Lies Ahead

Bitcoin & Crypto Market Approaching Crucial Break: LTC, BNB, BCH, TRX Analysis

Aayush Jindal
Aayush Jindal
Last Updated: June 11, 2024 12:53 pm
2 mins read
technical analysis altcoins

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  • The total crypto market cap is forming a major breakout pattern with resistance near $195.0B.
  • Bitcoin price is slowly rising and it seems like it could climb above the $7,400 resistance.
  • Binance coin (BNB) price is holding the $15.00 support and it is correcting higher.
  • Litecoin (LTC) price is attempting a break above the $45.50 resistance area.
  • BCH price is slowly recovering and it could revisit the $220 resistance area.
  • Tron (TRX) price is now trading well below the $0.0150 resistance level.

Bitcoin (BTC) and the crypto market cap are approaching next crucial break. Ethereum (ETH), litecoin, ripple, BCH, XLM, TRX, BNB, and EOS are holding key supports.

Bitcoin Cash Price Analysis

After a strong rejection near the $225 resistance, bitcoin cash price declined below $215 against the US Dollar. BCH price tested the $205 support area and started trading in a range. It is currently rising slowly towards the $215 and $220 levels.

The main resistance on the upside is near the $225 level, above which the price could surge towards $240 and $250. On the downside, the $200 support holds the key in the near term.

Binance Coin (BNB), Litecoin (LTC) and Tron (TRX) Price Analysis

Binance coin (BNB) remained well bid above the $15.00 support area. BNB price is currently correcting higher and trading near $15.50. If it continues to rise, the $16.00 resistance area might spoil the recovery. A clear break above $16.00 is needed for upside continuation.

Litecoin price is holding the $43.50 support area, but at the same time trading below many key resistances. The first key resistance is near the $45.50 level, above which LTC price could recover towards the next major resistance near the $48.00 level. The main resistance is still near the $50.00 level.

Tron price declined recently below the $0.0145 support and tested the $0.0140 support area. TRX price is currently consolidating, with an immediate resistance near the $0.0145 level. On the downside, a close below the $0.0140 support could lead the price towards $0.0132 or $0.0130 in the coming days.

Crypto Market Cap Bitcoin
Crypto Market Cap

Looking at the total cryptocurrency market cap 4-hours chart, the $186.0B area is acting as a strong support. Similarly, there are many key hurdles near $195.0B and $200.0B. At the moment, it seems like there is a major breakout pattern forming with resistance near the $192.0B level.

If there is a clear break above the $192.0B and $195.0B resistance, the crypto market cap could start a decent upward move. If not, there could be another bearish reaction in bitcoin, Ethereum, EOS, litecoin, ripple, binance coin, BCH, TRX, XMR, XLM 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

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