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Ethereum [ETH] and Tron [TRX] Price Analysis: Bears slow coins’ pace as their value drop

Yash Rajan

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Ethereum [ETH] and Tron [TRX] Price Analysis: Bears slow coins' pace as their value drop
Source: Pixabay

Ethereum [ETH], the strongest altcoin in crypto-verse was priced at $243.07 after a fall by 2.38%; the trading volume for ETH was recorded at $7.06 billion over 24 hours, while its market cap stood at $25.86 billion, according to CoinMarketCap.

Tron was valued at $0.032, as the market cap was recorded at $2.143 billion, at press time. According to CoinMarketCap, TRX fell to 12th rank on the list with a dip of 3.203% over the 24-hour cycle.

1-Day ETH

ETH saw resistance line at $271.24. The uptrend started at $155.94 and ended at $264.94 as support line was positioned at $240.26.

Source: TradingView

Source: TradingView

Bollinger Bands demonstrated decreased volatility as the bands were squeezing.

Parabolic SAR revealed that markers were seen above the candles, pointing towards a bearish market.

MACD exhibited a bearish signal line crossover as the MACD line crossed underneath the signal line.

1-Day TRX

TRX saw three major uptrends from $0.029 to $0.031, $0.030-$0.035 and $0.035-$0.038, with opposition from resistance line at $0.038. Support line for TRX was positioned at $0.031.

Source: TradingView

Source: TradingView

Bollinger Bands were diverged pointing towards increased volatility rate in the market.

Parabolic SAR exhibited a bearish trend as the markers were placed above the candles.

MACD presented a bearish signal line crossover as the MACD line crossed beneath the signal line.

Conclusion

ETH and TRX coins revealed a bearish momentum in the crypto market.





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