Crypto Market Following Strong Uptrend: Bitcoin Cash, XLM, 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 recovered sharply after testing the key $210.0B support area.
Bitcoin price jumped back above the $7,800 and $8,000 resistance levels.
Bitcoin cash price is up more than 5% and it recently broke the key $400 resistance.
EOS price is now trading above the $6.00 and $6.15 support levels, with a positive bias.
Stellar (XLM) price is currently consolidating gains above the $0.1300 and $0.1320 levels.
Tron (TRX) price is slowly moving higher towards the key $0.0300 resistance level.

The crypto market cap is gaining momentum, with positive moves in bitcoin (BTC) and Ethereum (ETH). Besides, BCH, stellar (XLM), ADA, EOS, ripple, and tron (TRX) are likely to accelerate higher.

Bitcoin Cash Price Analysis

Bitcoin cash price declined heavily this past week and broke the $385 and $365 support levels against the US Dollar. The BCH/USD pair tested the $350-355 support area and recently bounced back sharply. It broke the $385 and $400 resistance levels to move back in a positive zone.

The current price action is positive above $405, with an immediate resistance near the $425 level. A clear break above the $425 resistance may push the price towards the $430 and $440 levels.

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

EOS price climbed back above the $6.00 pivot level after a strong downside correction. The price is now trading well above the $6.20 support level and it seems like it could even make an attempt to surpass the key $6.50 resistance level in the near term.

Stellar price remained stable after it surged above the $0.1100 and $0.1200 resistance levels. XLM price is now trading nicely above the $0.1350 level and it could soon trade above $0.1400 and $0.1420. On the downside, the main supports are $0.1320 and $0.1300.

Tron price failed to stay above the $0.0300 level for a long time. TRX price declined towards the $0.0265 support level and it is currently correcting higher. On the upside, there are many hurdles near the $0.0295 and $0.0300 levels.

Looking at the total cryptocurrency market cap hourly chart, there was a sharp upward move above the $220.0B and $230.0B resistance levels. The trend line and support near $210.00 and $215.0B proved significant, resulting in a strong upward move. The market cap is now above the $235.0B level and it recently tested the $247.0B level. In the short term, there could be a downside correction, but the $230.0B level is likely to act as a strong support. On the upside, there are many hurdles near $248.0B and $250.0B, above which the market cap could rally to $260.0B. Overall, there could be more upsides in bitcoin, Ethereum, EOS, ripple, litecoin, bitcoin cash, XLM, TRX, BNB, WAN, WTC, ICX, and other altcoins 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.