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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Crypto Market Targets Fresh Highs: BNB Eyes $30, Bitcoin Cash, EOS, Tron Analysis

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

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  • The total crypto market cap is positioned for more gains above the $180.0B resistance.
  • EOS price is consolidating gains near $5.50 and it could surge above $5.60.
  • Binance Coin (BNB) rallied above the $22.00 and $25.00 resistance levels.
  • Bitcoin cash price is back above the $300 support area, with a positive angle.
  • Tron (TRX) price is struggling to break the $0.0265 and $0.0268 resistance levels.

The crypto market cap setting up for a new monthly high, with strong gains in binance coin (BNB). Bitcoin (BTC), Ethereum (ETH), bitcoin cash, tron (TRX), ripple, litecoin and EOS remains supported on dips.

Bitcoin Cash Price Analysis

The past few hours were positive since bitcoin cash price found support near the $292 level against the US Dollar. The BCH/USD pair climbed back above the $300 support level and it is currently trading with a positive bias. On the upside, a break above the $305 and $310 resistance levels is must for more gains above the $320 level.

On the downside, the main support is at $292 and $290, below which the price could move back in a bearish zone in the near term.

Binance Coin (BNB), EOS, Tron (TRX) Price Analysis

EOS price climbed above the $5.50 level, but it struggled to gain momentum and it is currently consolidating in a tight range. On the upside, a break above the $5.55 level is needed for more upsides above the $5.60 resistance area. On the downside, the price could test the $5.42 support level.

Tron price faced a strong barrier near the $0.0265 and $0.0268 resistance levels. TRX price recently corrected lower and tested the $0.0262 level. The next key support is at $0.0260, where buyers are likely to emerge in the coming sessions.

Binance coin (BNB) extended gains above the $20.00 and $22.00 resistance levels. BNB price is up more than 6% and it is currently consolidating near the $25.00 level. There could be a short term downside correction, but the $24.00 and $23.60 levels are likely to act as supports. On the upside, the bulls might target a new all-time high above the $30.00 level.

Crypto Market Cap Bitcoin Cash Binance Coin BNB BCH EOS TRX

Looking at the total cryptocurrency market cap hourly chart, there was a steady rise above the $162.00B level. The market cap broke the $168.0B and $170.0B resistance levels. The main resistance is at $180.0B, above which there could be a sharp rally towards the $195.0B level. On the downside, there is a key bullish trend line in place with support near the $169.0B level. Therefore, if there is a downside correction, dips remain supported in bitcoin, ether, TRX, LTC, EOS, ripple, ADA, XLM, WAN, BCH, XMR 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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