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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Crypto Market Sighting Bullish Break: XLM, Bitcoin Cash, EOS, TRX Price Analysis

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

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  • The total crypto market cap is trading nicely above the $128.0B support level.
  • Bitcoin cash price recovered recently and traded above the $132 resistance.
  • EOS price is currently placed nicely above the $3.70 support level.
  • Stellar (XLM) price rallied more than 10% and broke the key $0.1000 resistance area.
  • Tron (TRX) is currently consolidating near the $0.0230 support level.

The crypto market seems to be eyeing an upside break, with bullish moves in bitcoin (BTC) and Ethereum (ETH). Stellar (XLM) rallies recently, while BCH, EOS, ripple and tron (TRX) remain supported.

Bitcoin Cash Price Analysis

Bitcoin cash price rebounded nicely this past week and moved above the $128 and $130 resistances against the US Dollar. The BCH/USD pair is currently trading above the $132 level and it seems like there could be more gains towards the $135 resistance in the near term.

However, the main resistance is near the $138-140 zone for a larger upward move. If the pair fails to climb higher, there are chances of a downside correction below the $130 support.

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

EOS price gained traction this past week and broke the $3.50 and $3.60 resistance levels. The price even broke the $3.70 and $3.75 resistance levels before starting a short term correction. It is currently trading well above the $3.70 support, with chances of a move towards the $3.80 or $3.85 resistance level in the near term.

Stellar price performed really well and rallied above the $0.0900 and $0.0950 resistance levels. XLM price is up more than 10% and it even surpassed the $0.1000 resistance level to move into a positive zone. The current price action is positive and it seems like the price could rise towards the $0.1100 resistance level.

Tron price remained confined in a range above the $0.0220 support level. TRX price recently moved above $0.0230, but it faced a strong resistance near the $0.0235 and $0.0240 resistance levels. It seems like the price is preparing for the next key break either above $0.0240 or below $0.0220.

Crypto Market Cap Bitcoin Cash Stellar XLM TRX EOS

Looking at the total cryptocurrency market cap hourly chart, there was a sharp upward move after a test of the $124.0B support level. The market cap jumped above the $126.0B and $128.0B resistance levels. However, the $130.0B level is acting as a strong resistance and preventing further gains. In the short term, there could be a downside correction before there could be another attempt to surpass the $130.0B resistance. On the downside, the key supports are near the $128.0B and $126.0B levels. Overall, dips remain supported in bitcoin, Ethereum, EOS, ripple, LTC, bitcoin cash, XLM, TRX, 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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