Crypto Market Cap And Bitcoin Under Pressure: BCH, BNB, EOS, TRX 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 is struggling to recover above the $235.0B resistance area.
Bitcoin price is now trading well below the $9,000 and $8,960 resistance levels.
EOS price is declining and it seems like it could revisit the $3.350 support area.
Binance Coin (BNB) is still facing a lot of hurdles near the $21.00 and $21.20 levels.
BCH price is approaching the main $285 and $280 support levels.
Tron (TRX) price is correcting lower and it is now trading below the $0.0200 support.

The crypto market cap and bitcoin (BTC) are currently under pressure. Ethereum (ETH), binance coin (BNB), ripple, BCH, tron (TRX), litecoin and EOS might decline further.

Bitcoin Cash Price Analysis

In the past few hours, there was a fresh downward move below the $295 level in BCH price against the US Dollar. The BCH/USD pair is now approaching the main $285 and $280 support levels. If there is a downside break below the $280 support, the price could extend its decline towards $265.

On the upside, an initial resistance is near the $295 level. However, the main resistance is near the $300 and $305 levels, above which the price is likely to rally.

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

EOS price started a downward move after it failed to break the $3.650 and $3.700 resistance levels. The price is no trading below the $3.500 level and it seems like it could revisit the $3.350 support area. On the upside, an initial resistance is near the $3.550 level, followed by $3.650.

Tron price is now trading below the $0.0200 support area. TRX price tested the $0.0190 level and it is currently consolidating in a range. On the upside, the price must climb above $0.0198 and $0.0200 to start a fresh increase. If not, it could test the $0.0185 support area.

Binance coin (BNB) found support near the $19.50 level and it recently climbed back above the $20.00 and $20.20 resistance levels. BNB price is now trading above $20.50, but it is facing a strong resistance near the $21.00 and $21.20 levels.

Bitcoin Crypto Market Altcoins ETH XRP EOS BNB TRX ADA LTC — Crypto Market Cap

Looking at the total cryptocurrency market cap 4-hours chart, there was a fresh decline from the $241.0B high. However, the market cap is still holding the key $226.0B and $225.0B support levels. If there is a downside break, the market cap could decline towards the next support near the $217.0B level.

Conversely, the crypto market cap needs to surpass the $235.0B and $240.0B resistance levels. A successful close above the $240.0B resistance might start a decent upward move in bitcoin, Ethereum, TRX, LTC, EOS, ripple, ADA, XLM, WTC, BCH, and ICX in the near term.

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.