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Ethereum [ETH] and Tron [TRX] Price Analysis: ETH leads bull race as TRX follows suit

Arijit Sarkar

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Ethereum [ETH] and Tron [TRX] Price Analysis: ETH leads the bull race, while TRX stands aside
Credit: Pixabay

The recent bull run in Bitcoin’s [BTC] market resulted in a recovery spree for the altcoin universe. While several altcoins made headlines for incurring massive spikes in value, Tron [TRX], the ‘investor friendly’ altcoin, exhibited sideways trajectory through the year. On the other hand, thanks to a bullish wave, Ethereum [ETH] still held enough room to maintain its position as the world’s second largest cryptocurrency.

Ethereum [ETH] 1-Day

Source: TradingView

The 1-day chart for Ethereum [ETH] showed the coin being comfortable after surviving the crypto-winter. While ETH did not hold any prominent support or resistances, it continued to maintain its value recovery along with BTC’s bull run. The strongest altcoin was trading at $230.52, after rising by 10% change over 24 hours. Further, it had a trading volume of $13.2 billion and a market cap of $24.4 billion.

Awesome Oscillator: The green histogram bars suggested a strong bullish trend for the coin.

Relative Strength Index: Similarly, the RSI indicator exceeded the upper range, indicating an increase in the buying pressure.

Bollinger Bands: The diverging mouth of the bands indicated high volatility.

Tron [TRX] 1-Day

Source: TradingView

Support 1: $0.022

Resistance 1: $0.027

The “Ethereum-killer” showed a positive change of 9.56% during the reading, placing its value at $0.028928 during press time. Additionally, the crypto maintained a trading volume of $1.1 billion and market cap of $1.9 billion. Although the coin has displayed bearish movements for the past month, it crossed its previous resistance at $0.027.

MACD: The MACD line was positioned over the signal line, indicating a rising bull market.

Parabolic SAR: On a similar note, the dotted markers formed below the candlesticks and suggested an ongoing bullish trend.

Chaikin Money Flow: The CMF was above the zero-line, confirming a bullish market.



Conclusion

While ETH displayed a strong bullish trend, TRX was eventually able to ride the bull wave.





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Analysis

Bitcoin[BTC] and Litecoin[LTC] Price Analysis: King coin to recover from fall, LTC could follow suit

Rishi Raj

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Bitcoin[BTC] and Litecoin[LTC] Price Analysis: King coin recovers from the fall, LTC follows the suit
Source: Pixabay

Following a massive sell order on BitStamp exchange on 16 May 2019, Bitcoin saw a drastic fall to a low of $6,192. The king coin regained its momentum from the fall and was priced at $7,419, with a market cap of $131 billion. The 24-hour trade volume came up to $27 billion, out of which BitMex contributed 12.70% via the XBT/USD pair.

Litecoin, the silver to Bitcoin’s gold, was priced at $88.72 with a market cap of $5.48 billion. The 24-hour trade volume came up to  $4.8 billion, out of which, Coineal contributed 10.56% via LTC/BTC pair.

1-Day BTC

Source: TradingView

The one-day chart of BTC showed an uptrend from $4272.43 to $8107.83. The support points were seen at $3,159.65 and 5,004.95 and resistance was at $8206.27

The Relative Strength Index showed a bullish trend as it was exhibiting tremendous buying pressure.

The Chaikin Money Flow displayed the massive inflow of capital into the market.

The MACD indicator showed a bullish crossover.

1-Day LTC

Source: TradingView

The one-day chart of LTC showed an uptrend from $42.27 to $92.92. The support points were at $22.67 and $29.94 and the resistance points were at $102.15 and $92.39.

The Parabolic SAR showed a bullish trend as the dotted markers were under the candles.

The MACD indicator showed a bullish crossover.

The Chaikin Money Flow was seen to be at zero, indicating an equilibrium between money inflow and outflow.



Conclusion

The one-day chart of BTC showed a bullish trend as indicated by the aforementioned indicators. The same can be said about LTC.





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