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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Crypto Market Update: Litecoin (LTC), Bitcoin Cash, Tron (TRX), ADA Price Analysis 2019-01-17

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

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  • The total crypto market cap is currently struggling near the $117.00B and $118.00B levels.
  • Litecoin (LTC) price is currently trading in a tight range above the $30 support.
  • Bitcoin cash price may climb back above $130 and $132 resistance levels.
  • Tron (TRX) is consolidating above $0.0240 and it could trade higher in the near term.
  • Cardano (ADA) price gained more than 3% and broke the $0.0450 resistance level.

Bitcoin (BTC) and Ethereum (ETH) traded in a range, with bearish moves. The crypto market is facing hurdles, increasing pressure on ripple, Litecoin (LTC), Tron (TRX) and Cardano (ADA).

Bitcoin Cash Price Analysis

Bitcoin cash price declined below the $130 support recently and tested the $125 level against the US Dollar. BCH/USD is currently correcting higher and a break above the $130 resistance could push the price towards the $132 and $135 resistance levels.

On the flip side, if the price fails to surpass $130, it may retest the $125 support, below which there is a risk of a break towards $120.

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

Litecoin price managed to recover above $30 and it is currently consolidating in a tight range. LTC must break the $34 and $35 resistance levels to revisit the $40 hurdle in the near term. Alternatively, a break below $30 and $28 may push the price back towards $22.

Tron price is trading in a tight range above the $0.0240 support and it seems like it is preparing for more gains. TRX price could rally once again towards the $0.0300 level if there is a proper break above $0.0262.

Cardano price is slowly gaining bullish traction above the $0.0450 level. ADA is currently up more than 3% and it seems like the next stop for buyers could be $0.0462 or $0.0470 in the coming sessions.

Crypto Market Cap  Bitcoin, Ethereum, EOS, litecoin, ripple, Stellar, BCH, TRX

Looking at the total cryptocurrency market cap hourly chart, there is a major bearish trend line in place with resistance at $118.00B. The market cap struggled on a few occasions recently to break the trend line, resulting in bearish moves below $117.00B. Therefore, a successful break above the trend line could start a decent upward move in Bitcoin, Ethereum, EOS, litecoin, ripple, Stellar, BCH, TRX and other altcoins remains in the short 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
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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