Connect with us
Active Currencies 17769
Market Cap $3,975,195,607,458.10
Bitcoin Share 59.14%
24h Market Cap Change $-3.73

Tron, Synthetix, Crypto.com Coin Price Analysis: 25 February

2min Read
Share this article

While Bitcoin, the world’s largest cryptocurrency, does have an overwhelming influence on the performance of the market’s alts, the said influence isn’t uniform or consistent in any way. This was evidenced by the price movements of alts such as Tron, Synthetix, and Crypto.com Coin over the last 7 days.

Tron [TRX]

Source: TRX/USD on TradingView

Tron [TRX], the cryptocurrency ranked 25th on CoinMarketCap’s rankings, has witnessed fairly stable, even sideways movement, for much of the last 3-4 months. February 2021, however, has seen TRX surge on the charts, with the altcoin trading at levels last seen in June 2019.

Like most alts, Tron too trended south on the back of Bitcoin’s depreciation, with TRX falling by 26% in 5 days. At the time of writing, however, the crypto had recorded a green candle on the charts, a sign of recovery efforts being underway.

Tron’s indicators presented a more ambivalent picture as the Parabolic SAR’s dotted markers were well above the price candles and the Chaikin Money Flow was holding steady at 0.10, a sign of strong capital inflows.

Tron was in the news recently after it pipped Ethereum to register a higher total USDT usage.

Synthetix [SNX]

Source: SNX/USD on TradingView

Synthetix, the sixth-largest DeFi token by market cap, has enjoyed a price movement quite unlike any other over the past 10 days or so. While SNX did register an ATH on the charts on the 14th, the token has been on a downtrend since. In fact, Bitcoin’s breach of $58,000 too was unable to push the token up the charts.

It is worth noting, however, that over the past 48 hours or so, the market’s bulls had regained some momentum, with SNX flashing green on the charts too. In the 7-day period before that, SNX was observed to have fallen by almost 30%.

The mouth of the Bollinger Bands seemed to be holding steady since the recovery started, with the same suggesting that some near-term volatility can be expected. Finally, the Awesome Oscillator was picturing a fall in bearish momentum.

Synthetix recently raised $12M in funding from the likes of Coinbase Ventures and Paradigm.

Crypto.com Coin [CRO]

Source: CRO/USD on TradingView

Crypto.com Coin [CRO], the native token of the Crypto.com Chain, saw its value oscillate dramatically over the last 7 days. While CRO did hike by a remarkable 165% in a span of 4 days, corrections came swiftly as the value of Bitcoin, the world’s largest cryptocurrency, fell below the $50,000-mark on the charts.

At the time of writing, CRO was trading at levels last seen in September 2020.

The scale of the aforementioned hike was such, however, that CRO’s indicators continued to flash bullish signals. While the MACD line was hovering above the Signal line, the Relative Strength Index was skirting the overbought zone on the charts.

Share
Jibin Mathew George is the Editor-in-Chief of AMBCrypto, one of the world's top 5 cryptocurrency news publications. With over five years of dedicated experience in the blockchain and digital asset sector, Jibin possesses a deep and nuanced understanding of the market's complexities. His expertise lies at the intersection of cryptocurrency and global macroeconomics, with a particular focus on the influence of political and fiscal policies on the burgeoning crypto landscape. A post-graduate in International Relations with a focus on European Politics, Jibin brings a unique and analytical perspective to the world of digital finance. This background enables him to dissect and report on the intricate legal and political frameworks shaping the future of cryptocurrencies and blockchain technology. Since the early days of the crypto boom, Jibin has been a keen observer and a prolific writer, meticulously tracking the evolution of digital assets into a distinct and significant asset class. His work is characterized by its in-depth analysis of market trends, regulatory developments, and the long-term implications for investors and the broader financial system.
Read the best crypto stories of the day in less than 5 minutes
Subscribe to get it daily in your inbox.
Please check the format of your first name and/or email address.
Thank you for subscribing to Unhashed.