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Breaking News: Bitcoin Outlook Post Fed's 0.25% Rate Cut: Historical Patterns And Predictions
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Breaking News: Bitcoin Outlook Post Fed's 0.25% Rate Cut: Historical Patterns And Predictions

Crypto Market Gains Traction: EOS, Tron (TRX), Bitcoin Cash, ADA Price Analysis

Aayush Jindal
Aayush Jindal
Last Updated: June 11, 2024 1:01 pm
2 mins read
technical analysis altcoins

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  • The total crypto market cap found support near $112.00B and recovered above $120.00B.
  • EOS price is up more than 8% and it may extend gains above the $2.50 resistance.
  • Bitcoin cash price is back above the $130 level and it could test the $135 and $138 resistances.
  • Tron (TRX) price rallied close to 10% and cleared the $0.0250 resistance.
  • Cardano (ADA) price found support above $0.0400 and recovered above $0.0430.

EOS and Tron (TRX) are gaining bullish momentum as the crypto market recovers nicely. Bitcoin, BCH, Ethereum, and altcoins like XLM and Cardano (ADA) may extend gains.

Bitcoin Cash Price Analysis

Bitcoin cash price found support near the $120 level and later started a decent recovery against the US Dollar. BCH/USD gained around 5% and broke the $130 resistance level. It seems like the price may continue to grind higher and it could test the $135 and $138 resistances.

If there is a downside correction, the $130 and $128 levels may act as supports, below which the price may move back in a bearish zone.

EOS, Tron (TRX) and ADA Price Analysis

EOS price surged more than 7% recently and broke the $2.35 and $2.40 resistances. The current price action is positive and it seems like the price may extend gains above the $2.50 resistance.

Tron once again gained bullish momentum and rallied close to 10%. TRX price cleared the $0.0240 and $0.0250 resistance levels to move back in a positive zone. On the upside, the next resistances are at $0.0265 and $0.0280.

Cardano price found support near the $0.0400 level and it recently recovered nearly 6%. ADA price is currently trading above the $0.0425 resistance, with a bullish angle. If buyers break $0.0440, the price may climb above $0.0450 and $0.0460.

Crypto Market Cap BTC, ETH, tron, EOS, BCH, ADA

Looking at the total cryptocurrency market cap hourly chart, the $112.00B level acted as a strong support and produced a sharp upward move. The market cap broke the $118.00B resistance and a bearish trend line. At the outset, the cap is consolidating near $120.00B, and a break above $122.00B might open the doors for a push towards $125.00B and $127.5B. Therefore, there are chances of more upsides in BTC, ETH, tron, litecoin, EOS, ripple, NEO, 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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