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Analysis

Ethereum [ETH] and Tron [TRX] Price Analysis: Coins set to gain momentum with bull’s return

Priya

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Ethereum [ETH] and Tron [TRX] Price Analysis: Coins set to gain momentum with bull's return
Source: Unsplash

Most cryptocurrencies recorded both uptrends and downtrends in the seven-day timeframe. Some cryptocurrencies such as Cardano [ADA], Binance Coin [BNB], and EOS recorded double-digit growth, while others such as Ethereum [ETH] and Tron [TRX] recorded barely any movement.

Ethereum 1-day

Ethereum one-day price chart | Source: Trading View

Ethereum one-day price chart | Source: TradingView

The one-day chart for Ethereum displayed downtrends from $247.76 to $157.55, and further south till $136.08. The uptrends for the cryptocurrency were recorded from $82.92 to $103.22, and further till $133.26.

The immediate resistance for the coin was at $140.57 and strong resistance was at $218.72. The immediate support for the cryptocurrency was placed at $125.18, while strong support was at $82.78.

Parabolic SAR showed the bull at the coin’s door as the dotted lines were aligned below the candlesticks.

Chaikin Money Flow also forecasted the bull’s arrival as money was flowing into the market, indicating its support for a green market.

MACD, on the contrary, pictured the moving average line creeping below the signal line.

Tron 1-day

Tron one-day price chart | Source: Trading View

Tron one-day price chart | Source: TradingView

The one-day chart for Tron demonstrated downtrends from $0.0390 to $0.0294, and $0.0294 to $0.0246. The uptrends for the coin were recorded from $0.0119 to $0.0129, and from $0.0129 to $0.0226.

The immediate resistance for the coin was set at $0.0246 and strong resistance was at $0.0390. The coin’s immediate support was at $0.0214, while strong support was found at $0.0118.

Chaikin Money Flow remained optimistic about the eleventh-largest cryptocurrency’s future as money was flowing into the market in its support.

Bollinger Bands forecast a market with reduced volatility for the currency as the bands were converging, leaving minimal space for price movements.

Klinger Oscillator indicated a bull wave for the coin as the reading line had crossed over the signal line.

Conclusion

The charts showed that a bull run was imminent for these cryptocurrencies as a majority of the indicators were projecting the bull’s return to the coin’s market.





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Priya is a full-time member of the reporting team at AMBCrypto. She is a finance major with one year of writing experience. She has not held any value in Bitcoin or other currencies.

Analysis

EOS rises by over 6%; Ripple’s XRP and Ethereum follow suit prompted by Bitcoin’s rally

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EOS rises by over 6%; Ripple's XRP and Ethereum follows suit prompted by Bitcoin's rally
Source: Pixabay

Bitcoin, the largest cryptocurrency by market cap breached the $9,000-mark anchoring another market spin towards the bulls. The collective market cap stood at $285 billion, at press time.

EOS:

Since the onset of 2019, Block.one, the parent firm of EOS had rolled out several significant technological upgrades on its EOS blockchain. Even as the price movement was underwhelming for the most part of the year, the sixth largest digital asset by market cap, EOS gained strong market support. At press time, EOS climbed by 6.11% and stood at a price of $7.13 with a market cap of $6.5 billion. The trading volume recorded for the past 24 hours was $2.55 billion.

Source: TradingView

Ethereum:

With the much-anticipated Ethereum 2.0 blockchain rollout, the second largest cryptocurrency, on CoinMarketCap, garnered gained bullish momentum against the US Dollar. At press time, ETH rose by 3.67% over the past 24 hours and was priced at $275.1. The digital asset registered a market cap of $29.3 billion and a 24-hour trading volume $8.49 billion. Additionally, 4.2% of the trading volume was recorded at ZBG via the trading pair ETH/USDT.

Source: TradingView

Ripple:

Ripple’s focus has always been disrupting cross-border payment space following which the Brad Garlinghouse-led firm introduced new technologies, features, and network updates. Its native token, XRP, significantly leveraged from the recent developments as well as the market recovery steered by BTC.

At press time, the third largest digital coin was valued at $0.42 after posting 3.41% gains in the past 24-hours. XRP held a market cap of $17.92 billion and registered a 24-hour trading volume of $1.5 billion. 4.4% of XRP was being traded at ZBG via XRP/USDT.

Source: TradingView





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