Ethereum [ETH] and Tron [TRX] Price Analysis: Bears grab hold of major altcoins

The cryptocurrency ecosystem took a collective hit as several digital assets lost their valuation on April 21. Ethereum [ETH], the second largest crypto in the industry, witnessed a decline of 1.79 percent against the US Dollar and dropped below the $170-mark.

Tron experienced a similar, but more brutal fall as the prices dropped by 2.68 percent. The trade volume recorded was about $350 million and the market cap was $1.66 billion. Over the past seven days, TRON [TRX] exhibited a drop of 8.01 percent, which was indicative of another bearish wave in the offing.

Ethereum one-day chart

Source: Trading View

The long-term chart for Ethereum [ETH] witnessed considerable gains since the start of February as the valuation improved from $137.61 to $180.70. The support line remained at $102.93 and the resistance was at $181.42.

The Parabolic SAR indicated a bearish trend for the token as the dotted markers remained above the candlesticks on the charts.

The Relative Strength Index or RSI implied that the buying and selling pressures evened each other out.

The Awesome Oscillator exhibited the turn of momentum towards the bearish realm.

Tron one-day chart

Source: Trading View

The price movement on the one-day chart for TRON exhibited sideways movement since the beginning of January, as the prices bounced between the resistance at $0.0300 and the support line at $0.021. The chart showcased an uptrend from $0.023 to $0.0307. However, the downtrend dropped the valuation from $0.0300 to $0.0269.

The Bollinger Bands were indicative of a volatile period for the token as the markers diverged on the chart.

The Chaikin Money Flow line remained below the zero-line, which implied that capital was going out of the token’s market.

The Fisher Transform indicator appeared bearish on the chart as the red line remained above the blue line on the chart.

Conclusion

The indicators for both virtual currencies were majorly bearish as the future remained in jeopardy for the top altcoins.

The post Ethereum [ETH] and Tron [TRX] Price Analysis: Bears grab hold of major altcoins appeared first on AMBCrypto.

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