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Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning
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Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning

Crypto Market Update: Litecoin (LTC), Bitcoin Cash, Tron (TRX), ADA Price Analysis

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

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Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

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Key Points

  • The total crypto market cap declined recently and tested the $130.00B support.
  • Litecoin (LTC) price started consolidating gains after testing the $40 resistance.
  • Bitcoin cash price declined 4% and traded below the $60 support.
  • Tron (TRX) extended gains and traded above the $0.0235 resistance level.
  • Cardano (ADA) price trimmed gains and traded below the $0.0480 support.

Bitcoin cash started a downside correction below $160. BTC, Ethereum, ripple, Litecoin (LTC), Tron (TRX) and Cardano (ADA) trading nicely above key support levels.

Bitcoin Cash Price Analysis

Bitcoin cash price failed to clear the $165 and $170 resistance levels against the US Dollar. BCH/USD started a downside correction and traded below the $160 support. The price is down more than 4% and it may continue to move lower towards the $155 and $150 support levels.

On the upside, a break above the $160-162 zone may clear the path for a push towards the $170 resistance. A proper break above the $170 barrier is needed for an upside acceleration.

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

Litecoin price gained heavily recently and surged above the $34 and $36 resistance levels. LTC even tested the $40 resistance and later started a downside correction. The main supports on the downside are at $36 and $34.

Tron price remained in the green zone and traded above the $0.0235 resistance levels. TRX price may perhaps continue to move higher towards the $0.0245 and $0.0250 resistance levels.

Cardano price started a downside correction after testing the $0.0500 resistance levels. ADA is currently trading below the $0.0480 support and it seems like it may extend the correction. The next key support is at $0.0455, below which the price may decline towards the $0.0420 support.

Crypto Market Cap BTC BCH TRX LTC ADA

Looking at the total cryptocurrency market cap hourly chart, there was a rejection near the $137.00B level. The market cap started a downside correction and moved below the $135.00B level. However, the $130.00B support is acting as a solid barrier. There is also a bullish trend line with support at $129.00B on the hourly chart. Therefore, Bitcoin, Ethereum, EOS, litecoin, ripple, and other altcoins remains supported on the downside and they might bounce back in the near future.

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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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