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Ethereum [ETH] and Tron [TRX] Price Analysis: Prices rise, but bears yet to abandon market

Biraajmaan Tamuly



Ethereum [ETH] and Tron [TRX] Price Analysis: Prices rise, but bears yet to abandon market
Source: Pixabay

Ethereum [ETH] and Tron [TRX] continued their sideways movement as they looked to recover from a minor price fall. The Vitalik Buterin-backed virtual asset improved its valuation by 3.13 percent against the US dollar and was priced at $169.62, at press time. The trade volume recorded over the last 24 hours was about $5.06 billion.

Tron [TRX] kept pace with the coin and witnessed a hike of 2.60 percent and a market capitalization of around $1.79 billion. The coin was valued at $0.0269 and the trade volume garnered was around $320 million, at press time.

Ethereum 1-day chart

Source: Trading View

The one-day chart for Ethereum exhibited a downtrend which lowered the valuation from $140.71 to $108.79. However, the recent bullish run helped the token improve its price from $140.71 to $181.34. The resistance line since the bullish wave has remained at $181.84, while the support line was at $105.78.

The Parabolic SAR’s dotted markers remained above the candlesticks and pointed towards a bearish trend for the token.

The Chaikin Money Flow indicated a cash in-flow for the token’s market as the CMF line remained above the zero line.

The Awesome Oscillator gave the bears an upper hand in terms of market momentum as red bars dominated the chart.

Tron 1-day chart

Source: Trading View

Tron’s one day chart showcased sideways movement for the token between the resistance line at $0.0309 and the support at $0.0214. The token witnessed an uptrend during the price surge, which improved the valuation from $0.0272 to $0.0308.

The Bollinger Bands indicated a period of reduced volatility for the token as the indicators were converging on the chart.

The Fisher Transform line hovered below the red line on the chart and indicated a bearish trend for the token.

The MACD indicator pointed to a bearish trend in the offing.


Both tokens were pushing to recover after the recent fall in prices. However, the coins’ long-term indicators continued to indicate a bearish trend for the market.

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Biraajmaan is an engineering graduate who is exploring the ever-changing crypto verse while traversing his passion for cryptocurrency news writing. He is a Chelsea fan and a part-time poet and does not hold any value in cryptocurrencies yet.


Bitcoin [BTC] Halving: CoinMetrics pegs top-crypto to rise above $20,000 peak in late-2021




Bitcoin Halving: CoinMetrics pegs top-crypto to rise above $20,000 peak in late-2021
Source: Pixabay

With a year left for the highly anticipated Bitcoin [BTC] halving, many expect the price of the top-cryptocurrency to surge prior to May 2020. Analysts have previously opined that three months to one year before the halving does the price of the cryptocurrency move up.

A new piece of research from the cryptocurrency analytics firm, CoinMetrics, suggested that in addition to the precursor pump, Bitcoin [BTC] will reach its “local peak” 18 months after the halving.


CoinMetrics charts the price of the top coin, divided based on the 2012 and 2016 halving, showing a noticeable trend. A little more than a year after the first halving when the 210,001 block was mined, the price of Bitcoin surged above $1,000 for the first time, in December 2013 to be precise.

Next, During the July 2016 halving, the coin was trading at just above $600 and within the suggested period of 18 months, the top virtual currency saw its second peak. On 17 December, the coin reached a never-before-seen high of over $19,700 as the Chicago Futures exchanges embraced the digital assets market.

With the price of Bitcoin over $5,000 for the first time in over four months, and the precursor halving bulls on the horizon, the price could surge. Furthermore, based on CoinMetrics’ inference, Bitcoin will see its third peak, higher than $20,000, by the close of 2021, eighteen months after the May 2020 halving.

The halving protocol was placed in the original whitepaper to thwart inflationary pressure that would arise with more blocks mined and more Bitcoins supplied. Historical charts prove that this objective has been adhered to, with a constant drop in the inflation rate with the two previous halvings.

In 2012, the inflation was over 25 percent and immediately after the miner reward reduction to 25 BTC per block, it dropped to under 15 percent. A bracket between 7 percent and just under 20 percent sustained until the second halving in July 2016.

The second halving saw a decline in inflation rate to under 5 percent for the first time in the coin’s history, which has been maintained till today. CoinMetrics pegs the inflation, at press time, to be 3.8 percent. Furthermore, if the historic trend continues, the inflation rate would drop by more than 50 percent to 1.8 percent in May 2020.

Based on the current market and using a historical outlook, analysts suggested that 2019 will be the year of building the industry while the price effect will manifest next year, with the halving being at the very core. Many believe that institutional interest on the rise and the growing crypto-adoption surge could result in a bullish 2020.

Charlie Lee, BTCC’s co-founder suggested in December 2018 that Bitcoin’s next rally will begin in “late 2020”, months after the halving and would peak in December 2021 at 333,000. However, the precursor to this rise would be a January 2019 bottom of $2,500 which did not materialize.

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