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Breaking News: SoftBank, Ark Invest Among Potential Investors In Tether's $15 Billion Funding Round

Crypto Market In Clear Uptrend: Bitcoin Cash, XLM, EOS, TRX Price Analysis

Aayush Jindal
Aayush Jindal
1 year ago
2 mins read
technical analysis altcoins

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Created by industry experts and meticulously reviewed
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  • The total crypto market cap is climbing higher and it could break the $137.00 resistance level.
  • Bitcoin cash price is placed nicely above the $170 level and it may accelerate above $172.
  • EOS price extended gains above the $4.20 resistance and it may even surpass $4.30.
  • Stellar (XLM) price tested the $0.1100 resistance level and recently corrected lower.
  • Tron (TRX) is climbing higher towards the $0.0240 resistance level.

The crypto market seems to be eyeing an upside break, with bullish moves in bitcoin (BTC) and Ethereum (ETH). Stellar (XLM), BCH, EOS, ripple and tron (TRX) are likely preparing for more upsides.

Bitcoin Cash Price Analysis

Bitcoin cash price climbed higher this week and cleared the key $165 resistance level against the US Dollar. The BCH/USD pair even broke the $170 level and traded to a new weekly high. The current price action is positive and it seems like the price may accelerate above the $172 and $174 levels in the near term.

On the downside, an initial support is near the $170 level, below which the price may start a downside correction. The next key supports are near the $168 and $165 levels.

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

EOS price surged higher this week and broke the $4.00 and $4.20 resistance levels. The price even tested the $4.30 level and it is currently consolidating gains. In the short term, there could be a minor dip before the price starts a solid upward move above the $4.30 and $4.35 resistance levels.

Stellar price also remained in a bullish zone this week above the $0.1000 level. XLM price even traded above the $0.1100 resistance level before starting a downside correction. The price is now trading below the $0.1100 level, but it may soon climb higher and clear the $0.1100 and $0.1120 resistance levels.

Tron price is recovering higher and it currently trading above the $0.0230 and $0.0235 resistance levels. TRX price is now trading higher and it may soon test the $0.0240 resistance zone. A break above the $0.0240 resistance is likely to open the gates for more gains above $0.0245.

Crypto Market Bitcoin Cash BCH TRX XLM EOS

Looking at the total cryptocurrency market cap hourly chart, there was a downside correction recently from the $136.5B resistance. The market cap tested the $134.5B level and later bounced back. It is currently near the last swing high and it seems like there could be an upside break above the $137.0B resistance level. In the short term, there could be a minor dip, but the $135.5B and $134.5B levels are likely to act as strong supports. Therefore, there could be more bullish moves in bitcoin, Ethereum, EOS, ripple, LTC, bitcoin cash, XLM, TRX, ICX, ONT, 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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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
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