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Breaking News: Bitcoin Outlook Post Fed's 0.25% Rate Cut: Historical Patterns And Predictions
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Breaking News: Bitcoin Outlook Post Fed's 0.25% Rate Cut: Historical Patterns And Predictions

Crypto Market Cap And Bitcoin Target More Upsides: BCH, BNB, EOS, TRX Analysis

Aayush Jindal
Aayush Jindal
Last Updated: June 11, 2024 1:00 pm
2 mins read
technical analysis altcoins

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  • The total crypto market cap is now placed nicely above the $190.0B support area.
  • Bitcoin price is holding the $7,300 and $7,400 support levels.
  • EOS price is currently consolidating above the $2.600 level and it could rise towards the $2.85 level.
  • Binance Coin (BNB) is struggling to gain momentum above the $16.00 and $16.20 resistance levels.
  • BCH price is currently consolidating near the $220 pivot level.
  • Tron (TRX) price is facing a strong resistance near the $0.0160 and $0.0162 levels.

The crypto market cap and bitcoin (BTC) are showing positive signs. Ethereum (ETH), binance coin (BNB), ripple, BCH, tron (TRX), litecoin and EOS are likely to target more upsides.

Bitcoin Cash Price Analysis

After forming a support base, bitcoin cash price climbed above the $210 resistance area against the US Dollar. The BCH/USD pair tested the $225 resistance area and it is currently consolidating near the $220 pivot level.

If there is an upside break above the $225 resistance area, there are chances of a run towards the $240 and $245 levels. On the downside, there are many supports, starting with the $210 level and up to the $200 handle.

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

EOS price gained bullish momentum above the $2.500 resistance area. The price even broke the $2.600 level and tested the $2.700 resistance area. It is currently consolidating above the $2.600 level and it could rise towards the $2.85 level. On the downside, the main supports are near the $2.550 and $2.500 levels.

Tron price made a nice upward move above the $0.0155 resistance level. However, TRX price is facing a strong resistance near the $0.0160 and $0.0162 levels. A clear break above the $0.0162 level could set the pace for more upsides towards the $0.0165 and $0.0168 levels.

Binance coin (BNB) is holding the $15.20 and $15.50 support levels. Still, it is struggling to gain momentum above the $16.00 and $16.20 resistance levels. If there is an upside break above the $16.20 resistance area, there are chances of a decent rise towards the $16.80 and $17.00 levels.

Crypto Market Cap Bitcoin
Crypto Market Cap

Looking at the total cryptocurrency market cap 4-hours chart, there was a slow and steady rise above the $188.0B and $190.0B resistance levels. The crypto market cap seems to be following an ascending channel with support near the $190.0B level. On the upside, a break above the $200.0B resistance could set the pace for a move towards $220.0B.

Therefore, there are chances of another increase in bitcoin, Ethereum, TRX, LTC, EOS, ripple, ADA, XLM, WTC, BCH, and ICX 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

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