Ethereum [ETH] and Tron [TRX] Price Analysis: ETH welcomes bull in market, while TRX fights the bear

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.

Ethereum [ETH]

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.

Source: Trading view

Source: Trading view

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 [TRX]

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.

Source: Trading view

Source: Trading view

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.

Conclusion 

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.

LEAVE A REPLY

Please enter your comment!
Please enter your name here