Crypto Market Cap And Bitcoin Gaining Pace: BCH, BNB, EOS, TRX Analysis

Aayush Jindal

1 year ago

2 mins read

Bitcoin Crypto Market Altcoins BCH ETH XRP BNB ADA TRX EOS

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The total crypto market cap is climbing higher and it may soon break the $265.0B resistance.
Bitcoin price is now trading nicely above the $10,600 level, with a positive angle.
EOS price is currently consolidating near the $3.300 level.
Binance Coin (BNB) is gaining momentum and is currently trading above the $22.25 level.
BCH price may soon make another attempt to surpass the $300 and $305 resistance levels.
Tron (TRX) price is extending losses and it recently broke the key $0.0150 support area.

Bitcoin (BTC), binance coin (BNB) and the crypto market cap are gaining bullish momentum. Ethereum (ETH), BCH, tron (TRX), litecoin, ripple and EOS are also struggling to recover.

Bitcoin Cash Price Analysis

Recently, BCH price failed to climb above the $300 and $305 resistance levels against the US Dollar. As a result, there was a downside correction and the BCH/USD pair tested the $290 level. The price is currently trading in a range and it seems like the price may soon make another attempt to surpass the $300 and $305 resistance levels.

If the price struggles to gain pace above $300, it could extend its decline below the $290 and $285 support levels in the near term.

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

EOS price is struggling to hold the $3.300 support level and is trading in a range. If it continues to struggle, there could be a downside reaction towards the $3.200 support level. The next major support is near the $3.100 level, followed by 3.050. On the upside, the main hurdles are near $3.450 and $3.500.

Tron price remains in a bearish zone and it recently declined more than 4%. TRX price broke the key $0.0150 support level and accelerated its decline. The next major support is near $0.0145, below which the price could even test the $0.0142 level.

Binance coin (BNB) started a nice upward move above the $22.00 resistance level. BNB price is currently up more than 3% and it recently broke the $22.40 level. The main resistances on the upside are near the $23.00 and $23.20 levels. On the downside, the $22.00 level may now act as a support.

Looking at the total cryptocurrency market cap 4-hours chart, there was a minor downside correction from the $265.0B resistance level. However, the $255.0B support level is acting as a strong support. The market cap is currently moving higher towards the $265.0B resistance, with a bullish angle. If there is an upside break above $265.0B, there could be an upside extension towards the $280.0B level. Overall, bitcoin is gaining pace, while Ethereum, TRX, LTC, EOS, ripple, ADA, XLM, WTC, BCH, and ICX are facing hurdles.

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.

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.