The cryptocurrency market has been fighting the bear in the market, and few coins have managed to evade the bear’s grasp, like Ethereum [ETH]. However, other coins like Tron [TRX], are still under the spell of the bear.
At press time, ETH was valued at $171.79 as it registered a 2.86% growth in the past day. The market cap noted by the second largest coin was $18.15 billion and its 24-hour trading volume was 6.25 billion. ETH reported a minimal growth of 0.34% over the past week but fell by 0.28% within the past hour.
The long-term chart of ETH marked a downtrend from $188.32 to $89.06, after which the coin recovered to note a rise in its price from $83.74 to $160.03. The coin observed a constant rise in its prices over the past few days, marking an immediate resistance at $180.74 and support at $157.69.
Bollinger Bands appeared to have diverged, indicating growing volatility in the market. The moving average line was under the candlesticks which implied a bull’s run.
Awesome Oscillator registered a weak bullish momentum.
Chaikin Money Flow marked a bullish market as the marker aligned above the zero mark.
Tron fell by 0.38% within the past hour, while observing a 1.59% growth over the past day. After registering a fall in its price over the past week by 2.72%, TRX was valued at $0.0271 with a market cap of $1.80 billion, at press time. The 24-hour trading volume was noted to be $337 million.
According to the long-term chart of TRX, a massive fall in its price was observed from $0.0215 to $0.0119, after which, the coin started to observe gradual growth from $0.0132 to $0.0263. Due to the growing prices, no strong resistance was marked, but an immediate resistance was noted at $0.0307, and support at $0.0226.
Parabolic SAR reported a bullish market as the markers aligned under the candlesticks.
MACD line was under the signal line right after a crossover, marking a bearish trend.
Relative Strength Index indicated that the buying and the selling pressures had evened each other.
The second largest cryptocurrency, Ethereum [ETH] is likely to experience a bullish trend, while a bearish reign is being forecasted for Tron [TRX].
The post Ethereum [ETH] and Tron [TRX] Price Analysis: ETH welcomes bull in market, while TRX fights the bear appeared first on AMBCrypto.