Crypto Market And Bitcoin at Major Crossroads: BCH, BNB, EOS, TRX Analysis

Aayush Jindal

Last Updated: June 11, 2024 1:00 pm

2 mins read

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The total crypto market cap is struggling to hold the key $250.0B support area.
Bitcoin price spiked below the $9,300 level and recently corrected above $9,500.
EOS price is facing a lot of hurdles near the $4.400 and $4.500 levels.
Binance Coin (BNB) is trading with a bearish angle below the key $28.50 support level.
BCH price is slowly moving higher towards the main $320 resistance level.
Tron (TRX) price is currently holding the key $0.0220 support level.

Bitcoin and the crypto market cap are facing many important hurdles on the upside. Ethereum (ETH), binance coin (BNB), BCH, tron (TRX), ripple, litecoin and EOS might struggle to correct higher.

Bitcoin Cash Price Analysis

Recently, there was a slow and steady recovery in BCH price above the $300 level against the US Dollar. The BCH/USD pair even managed to surpass the $310 resistance level. It seems like the price is now slowly climbing towards the next key resistance at $320.

If there is an upside break above $320, the price could continue to rise towards the $350 level. If the price fails to continue higher, it could decline once again below the $300 support level in the near term.

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

EOS price failed to hold gains and declined sharply towards the $4.00 support level. The price is currently correcting above the $4.200 level, but there are many important hurdles on the upside. The main resistance is near the $4.500 level, above which the price could climb towards the $4.800 resistance.

Tron price struggled a lot in the past few days and settled below the key $0.0232 support level. TRX price even revisited the $0.0220 support level and it is currently correcting higher. However, the bulls are likely to face a lot of selling interest near the $0.0232 and $0.0235 levels.

Binance coin (BNB) declined sharply and broke the $29.20 and $28.50 support levels. BNB price is now trading well below $28.00 and it recently tested the $26.50 support. To start a strong recovery, the price must climb back above $28.50 and $29.20 in the coming sessions.

Looking at the total cryptocurrency market cap 4-hours chart, there were further losses below the $260.0B support level. The market cap even spiked below the $250.0B support and it is currently consolidating losses. On the upside, there is a strong resistance forming near the $265.0B level and a connecting bearish trend line on the same chart. A successful close above $265.0B and $270.0B is needed for more gains. Conversely, a close below the $250.0B support might spark bearish moves 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.

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.