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

Aayush Jindal
Aayush Jindal
6 years 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 tested the $117.50B resistance and later corrected lower.
  • EOS price is currently correcting lower and it may test the $2.40 support level.
  • Bitcoin cash price tested the $130 resistance and it is currently moving lower towards $126.
  • Tron (TRX) price remains in an uptrend and it could accelerate towards the $0.0300 level.
  • Cardano (ADA) price settled above $0.0420 and it is currently consolidating in a tight range.

The crypto market started a downside correction after yesterday’s recovery. Bitcoin (BTC), EOS, Ethereum, BCH, ripple, ADA and altcoins are approaching key supports where buyers could emerge.

Bitcoin Cash Price Analysis

Bitcoin cash price made a nice upward move above $126 and $128 against the US Dollar. BCH/USD even broke the $130 resistance level, but it failed to gain strength above the $132 resistance. Later, there was a downside correction and the price dipped below $130.

An initial support is at $128, below which there is a risk of an extended decline to $126 or $125. On the upside, buyers need to clear the $130 and $132 hurdles for more gains.

EOS, Tron (TRX) and ADA Price Analysis

EOS price traded towards the $2.50 resistance recently, where sellers emerged. The price is currently correcting lower below $2.45 and it may continue to decline towards the $2.40 or $2.35 support levels.

Tron price remained in the bullish zone above the $0.0250 and $0.0260 support levels. TRX is currently consolidating and it may soon make another attempt to surpass the $0.0280 and $0.0300 resistances.

Cardano price settled above the $0.0420 support level. However, ADA is struggling to surpass the $0.0440 and $0.0450 resistance levels, above which the price could rally towards the $0.0500 level.

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

Looking at the total cryptocurrency market cap hourly chart, there was a failure near the $117.00B and $117.50B resistance levels. The market cap started a downside correction and traded below $115.00B. However, it seems like there are many supports on the downside near the $114.00B and $112.50B levels. Therefore, dips in bitcoin, ETH, XRP, tron, litecoin, EOS, stellar, IOTA and other altcoins remain supported 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
The highest standards in reporting and publishing
How Our News is Made

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

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