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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Crypto Market Jumps $10 Billion: Bitcoin Cash, Tron (TRX), ADA, IOTA Analysis

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

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  • The total crypto market cap is accelerating higher above the $140.0B resistance level.
  • Bitcoin cash price is about to clear the $170 resistance level.
  • Tron (TRX) is up around 10% and it could accelerate above the $0.0260 level in the near term.
  • Cardano (ADA) is slowly rising towards the $0.0720 resistance area.
  • IOTA (MIOTA) is up around 4% and it recently broke the $0.3250 resistance area.

The crypto market is climbing higher, with solid gains in bitcoin (BTC) and Ethereum (ETH). Tron (TRX) rallied more than 8%, and ripple, Litecoin (LTC), IOTA and Cardano (ADA) are trading with bullish moves.

Bitcoin Cash Price Analysis

Bitcoin cash price found support near the $162 level and later bounced back above the $165 level against the US dollar. The BCH/USD pair is currently trading nicely above the $168 level and it is likely to climb above the $170 resistance level in the near term.

On the upside, the next key resistance is at $172, above which the price may revisit the $175 level. On the downside, the key support is $165, followed by the $162 pivot level.

Tron (TRX), ADA and IOTA Price Analysis

Tron price formed a solid support base above the $0.0232 level. Finally, TRX buyers gained traction and pushed the price above the $0.0235 and $0.0240 resistance levels. It opened the doors for more gains and the price rallied above the $0.0250 level. The next key stop for buyers is near the $0.0260 level.

Cardano price recently climbed above the $0.0700 level and later started consolidating gains. ADA price is currently moving higher and it may soon test the $0.0720 resistance. A clear break above $0.0720 is likely to open the doors for a push towards the $0.0750 level. On the downside, the main support is at $0.0700.

IOTA (MIOTA) started a decent upward move above the $0.3100 resistance levels. It broke the $0.3180 and $0.3200 resistance levels and it is currently trading above the $0.3250 level. The next stop for buyers could be $0.3500.

Crypto Market Cap Bitcoin Cash BCH Tron TRX IOTA ADA

Looking at the total cryptocurrency market cap hourly chart, there was a slow and steady rise above the $135.0B and $137.0B resistance levels. The market cap even broke the $139.0B and $140.0B resistance levels. The current bias is very positive and suggests more gains above the $142.0B and $144.0B levels in the near term. On the downside, there are many supports near the $139.0B level, which was a resistance earlier. There is also a major bullish trend line in place with support near the $139.0B level. Overall, the market is placed nicely in a positive zone, and there could be more upsides in bitcoin, Ethereum, EOS, ripple, IOTA, litecoin, BCH, ICX, EOS, XLM, and other altcoins.

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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.

Read more

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

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