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Breaking News: FTX Recovery Trust Set To Disburse $1.6 Billion By Month-End, FTT Price Skyrockets
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Breaking News: FTX Recovery Trust Set To Disburse $1.6 Billion By Month-End, FTT Price Skyrockets

Crypto Market Update: EOS, Bitcoin Cash, Tron (TRX), ADA Price Analysis 2019-02-04

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

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Created by industry experts and meticulously reviewed
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  • The total crypto market cap is struggling to gain pace above the $112.00B resistance.
  • EOS price failed to break the $2.50 resistance recently and declined.
  • Bitcoin cash price just moved below the $120 support level, with a bearish angle.
  • Tron (TRX) price is down more than 2% and it could test the $0.0250 support level.
  • Cardano (ADA) price struggle to clear the $0.0400 resistance and declined below $0.0385.

The crypto market is facing a lot of hurdles, putting pressure on bitcoin (BTC). Moreover, Ethereum (ETH). EOS, BCH, ripple, tron, ADA and other altcoins are currently trading with a bearish tone.

Bitcoin Cash Price Analysis

Bitcoin cash price traded higher this past week and broke the $115 and $118 resistance level against the US Dollar. BCH/USD also moved above the $120 level, but it failed to hold gains. As a result, the price moved below $120 and it seems like it could continue to move down.

An initial support is at $118, below which there is a risk of a drop to $115. On the upside, the main resistances are $120 and $122.

EOS, Tron (TRX) and ADA Price Analysis

EOS price failed to gain momentum above the $2.45 and $2.50 resistance levels. Sellers gained control and pushed the price below the $2.40 support. The next key supports on the downside are at $2.35 and $2.32.

Tron price started a fresh downward move and declined more than 2%. TRX price broke the $0.0265 support and it may continue to move down towards the $0.0250 support level, where buyers are likely to emerge.

Cardano price also followed a bearish path in the past few hours and declined below the $0.0385 support. ADA is currently trading below $0.0380 and it might soon test the $0.0372 support level.

Crypto Market Cap, bitcoin, ETH, XRP, tron, litecoin, EOS

Looking at the total cryptocurrency market cap hourly chart, there was a major drop from well above the $112.00B level. The market cap declined below the $110.00B support and a connecting bullish trend line on the same chart. In the short term, there could be bullish moves, but a proper break above $112.00B is needed for a decent upward move. Until then, bitcoin, ETH, XRP, tron, litecoin, EOS, stellar, IOTA and other altcoins could remain under pressure.

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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
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

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