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Breaking News: Celsius Founder Alex Mashinsky Receives 12-Year Prison Sentence

Crypto Market Holding Key Support: Bitcoin Cash, Litecoin (LTC), ADA, TRX Analysis

Aayush Jindal
Aayush Jindal
5 years ago
2 mins read
technical analysis altcoins

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  • The total crypto market cap is currently above the key $225.0B and $230.0B support levels.
  • Bitcoin price seems to be struggling to clear the $8,000 barrier and is trading in a range.
  • Litecoin (LTC) price is currently consolidating above $90.00, with resistances near $92.00 and $95.00.
  • Bitcoin cash price settled above the $400 resistance area after a strong recovery from $350.
  • Tron (TRX) price is slowly grinding higher towards the key $0.0300 resistance area.
  • Cardano (ADA) price is facing a strong resistance near the $0.0850 and $0.0880 levels.

The crypto market cap is moving in a range, with a few bearish moves in bitcoin (BTC) and Ethereum (ETH). LTC, BCH, EOS, cardano, ripple, TRX, XLM and BNB are holding key supports.

Bitcoin Cash Price Analysis

Bitcoin cash price rebounded sharply from $350 and climbed above the $380, $390 and $400 resistance levels against the US Dollar. BCH/USD settled above the $400 level and it is currently consolidating in a range. On the upside, an initial resistance is near the $410 level, followed by $415.

If there is a follow through above $415, the price is likely to test the $430 and $440 levels. On the downside, a break below the $400 support level may perhaps spark a fresh drop towards the $385 support.

Cardano (ADA), Litecoin (LTC) and Tron (TRX) Price Analysis

Litecoin price recovered nicely above the $85 and $88 resistance levels. LTC price broke the $90 level and it seems to be trading in a range. An initial hurdle for the bulls is near $92, above which the price could test $95. On the downside, the main supports are $90 and $85.

Tron price is holding the $0.0265 and $0.0270 support levels. TRX price is currently moving higher, but it is facing a strong resistance near the $0.0292, $0.0295 and $0.0300 levels. A clear break above $0.0300 could set the tone for more gains.

Cardano price corrected lower sharply, but it recently bounced back above the $0.0800 level. ADA price is currently trading near $0.0840, with an immediate resistance near $0.0850. The next key resistances are $0.0880 and $0.0900.

Crypto Market Cap Bitcoin Cash BTC BCH Litecoin LTC ADA TRX

Looking at the total cryptocurrency market cap 4-hours chart, there are many supports on the downside near the $231.0B, $230.0B, $228.0B and $225.0B levels. There is also a strong bullish trend line forming with support near the $222.0B level. As long as the market cap is above the trend line support, it is likely to climb higher towards the $245.0B level. The main resistance on the upside is near $250.0B. Overall, there are high chances of more upsides in bitcoin, Ethereum, EOS, litecoin, ripple, ADA, BCH, TRX, ICX, 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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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

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Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
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