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

Crypto Market Struggle Continues: Litecoin (LTC), BCH, TRX, ADA Price Analysis

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

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  • The total crypto market cap is slowly correcting higher towards the $128.0B resistance level.
  • Litecoin (LTC) price is currently consolidating above the $45 support level.
  • Bitcoin cash price is slowly moving lower (down more than 2%) towards the $130 support level.
  • Tron (TRX) is at a risk of a sharp decline below the $0.0242 and $0.0240 support levels.
  • Cardano (ADA) price could decline further towards the $0.0400 support level in the near term.

The crypto market is showing signs of an upside correction, with moves in bitcoin (BTC) and Ethereum (ETH). Ripple, litecoin, bitcoin cash, TRX, XLM and ADA might correct higher before fresh decline.

Bitcoin Cash Price Analysis

Bitcoin cash price slowly moved down and broke the $135 and $134 support levels against the US Dollar. The BCH/USD pair is down more than 2% and it seems like it could break the $132 support. The next key support is near the $130 level, below which there could be a sharp drop towards the $125 support.

On the upside, the previous support near the $135 level may perhaps act as a strong resistance. If there is a break above the $135 resistance, the price could correct higher towards the $140 level.

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

Litecoin price started a downside correction from well above the $50 level. LTC broke the $48 and $46 support levels. At the moment, the price is consolidating above the $45 support. If there is a downside break below $45 and $44, the price could continue to move down towards the $40 support. On the upside, the main resistances are $48 and $50.

Tron price remained in a bearish zone and it recently broke the $0.0245 support level. TRX price is currently trading near the $0.0242 level and it seems like it could decline further towards the $0.0240 level. A break below $0.0240 might accelerate losses towards the $0.0380 level.

Cardano price faced an increased selling pressure and it declined below the $0.0450 support level. ADA is trading with a bearish angle and it seems like it could revisit the $0.0400 support zone in the coming sessions.

Crypto Market Cap Litecoin LTC Bitcoin Cash TRX ADA

Looking at the total cryptocurrency market cap hourly chart, there is a decent support base formed near the $124.2B level. The market cap recently climbed above a bearish trend line, opening the doors for a correction above the $126.0B level. However, there is a strong resistance formed near the $128.0B zone and the 100 hourly simple moving average. Therefore, upsides in bitcoin, Ethereum, EOS, litecoin, ripple, ADA, BCH, TRX, ICS, XLM and other altcoins are likely to remain capped in the near term unless buyers gain traction.

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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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