With the bears still holding the reins in the cryptocurrency market, most coins were trading in the red at press time. While Bitcoin had fallen by 6.5 percent in the last 24 hours, most altcoins among the top ten noted dips in the range of 5-7%.
TRON was down 6.3%, Ethereum Classic dipped by 8%, and SUSHI had depreciated by 4.7% in the aforementioned period.
TRON [TRX]
Source: TRX/USDT – Trading View
TRON was ranked 23rd on CoinGecko with a market cap of about $4 billion. Down by 10 percent in the last seven days, it was changing hands at $0.06, at the time of writing.
After a price dip on 21 June, TRX’s price has been consolidating within the $0.068 resistance and $0.064 support over the last two days.
The volatility in TRX’s price was falling, with the Bollinger Bands starting to converge. The Awesome Oscillator pictured bearish momentum creeping up while a bearish trend was displayed by the Parabolic SAR.
Ethereum Classic [ETC]
Source: ETC/USDT – Trading View
After briefly holding its breath above the $42.84 resistance on 25 June, ETC went back to a rangebound movement between the $38.95 support and the aforementioned resistance.
The token has maintained this range since 21 June, before which the $42.48-range was acting as support. The 4-hour chart pictured the southbound price movement of ETC since mid-June, with its resistance levels having fallen from $60.4.
The Average Directional Index was over 20 and pointed to a strong trend at the time. However, its declining movement pointed to a less directional market and a weakening trend going forward.
The upward-facing Relative Strength Index highlighted a hike in buying pressure after visiting the oversold zone between 21 and 22 June. Finally, the Chaikin Money Flow finally crept above zero on the back of capital inflows rising.
In recent news, Mantis, a project developed by IOHK for the Ethereum Classic network, added easy web protocol access to the blockchain.
SushiSwap [SUSHI]
Source: SUSHI/USDT – Trading View
SUSHI’s price slipped from $7.2 to $6.5 yesterday, and continued sideways thereafter. In case it continues in this direction, there are chances that the resistance might fall to $6.5 from the press time level of $7.5.
The token was ranked 65th on CoinGecko with a market cap of about $700 million. Down by 16.5% over the last 7 days, SUSHI was trading at $6.28 at the time of writing.
The MACD and Signal lines saw a bearish crossover, with the histogram also noting a bearish trend. The Awesome Oscillator pointed to bullish momentum creeping up. The diverging Bollinger Bands highlighted increasing volatility and a likelihood of the prices experiencing sharp movements.
The sale of Yield Guild Games (YGG) tokens is to commence tomorrow on MISO, a new token launchpad by Sushiswap. YGG is a DAO for investing in NFTs for virtual worlds and blockchain-based games.
