Crypto Market Jumps $15 Billion: Bitcoin Cash, Litecoin (LTC), ADA, 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 is up more than $15.0B in the past three days.
Bitcoin price rallied more than 5% and traded above the $5,800 resistance level.
Litecoin (LTC) price is up around 6% and it broke the key $75 and $78 resistances.
Bitcoin cash price rallied 10% and broke the main $295 and $300 resistances.
Tron (TRX) price finally broke the $0.0242 and $0.0245 resistance levels.
Cardano (ADA) price is back above $0.0700 and it may climb further towards the $0.0750 level.

The crypto market cap rallied, with strong gains in bitcoin (BTC), litecoin (LTC), bitcoin cash and EOS. Cardano (ADA), Ethereum (ETH), ripple, TRX, XLM and BNB are gaining traction.

Bitcoin Cash Price Analysis

Bitcoin cash price started a strong upward move and broke the $280, $290 and $295 resistance level against the US Dollar. BCH/USD broke the main $300 resistance level and it is currently trading with a strong bullish bias.

If the bulls remain in action, there are chances of more gains above the $310 and $315 resistance levels. If there is a downside correction, the price is likely to find bids near the $300 and $295 supports.

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

Litecoin price also gained momentum and broke the key $75 and $78 resistance levels. LTC is up more than 6% and it recently climbed above the $80 level. If there are more gains, the next stop for the bulls could be near the $85 level in the near term.

Tron price finally managed to gain strength above the $0.0242 resistance and tested the $0.0245 level. TRX price is trading with a positive tone and it seems like there could be an upside extension above the $0.0250 level in the near term.

Cardano price is slowly gaining traction and recently broke the $0.0690 and $0.0700 resistance levels. ADA price is likely to climb further higher if there is a clear break above the $0.0710 level in the near term. On the downside, the previous resistance at $0.0700 may act as a support.

Looking at the total cryptocurrency market cap 4-hours chart, there was a steady rise above the $170.0B resistance and recently there was a break above the key $175.0B and $180.0B resistance levels. The market cap added more than 15.0B in the past three days and it tested the $186.0B level. On the upside, the next key resistances are near the $188.0B and $190.0B levels. If there is a downside correction, the main supports are at $180.0B and $178.0B. Overall, dips remain supported and there could be more gains in bitcoin, Ethereum, EOS, litecoin, ripple, ADA, BCH, TRX, ICX, XLM 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.

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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.