The cryptocurrency market that had seen major gains in the last week of 2018, has fallen prey to the bear’s chase and is bleeding. Tron [TRX], the only coin that has previously resisted the bear is also wounded in the bear’s attack. It had noted growth of over 20% in the past day but this changed as the bear struck. It took down the eighth largest coin by more than 10% in an hour. However, at the time of press, the coin seems to be recovering.
According to CoinMarketCap, the coin was valued at $0.0296 with a market cap of $1.9 billion. The coin registered a 24-hour trade volume of $696 million and notes a fall by 4.09% over the past hour. The coin reflects the growth of 9.20% over the past 24 hours, with over a week’s growth recorded to be 48.14%.
The one hour chart of the coin reflects a massive growth from $0.0209 to $0.0328, after which the coin fell to $0.0299. The coin started a recovery immediately. The coin has marked resistance at $0.0328 while support seems strong at $0.0287.
Parabolic SAR indicates a bearish market as the markers aligned themselves above the candles.
Awesome Oscillator too points towards a bearish market losing momentum.
Chaikin Money Flow indicates a bearish market as the marker is under zero.
As per the one day chart of the coin, a downtrend was noted from $0.0186 to $0.0119, after which it started to hike from $0.0158 to $0.0287. The coin has not marked a new resistance at the time of press, as it has broken its earlier resistance at $0.0287. The coin marked strong support at $0.0119.
Bollinger Bands is at a converging point but is slowly seen to diverge, increasing the volatility in the market. The moving average line is observed to be under the candlestick marking a bullish trend.
MACD line is over the signal line pointing towards a bullish market.
Relative Strength Index is in the overbought zone.
As per the indicators, Parabolic SAR, Awesome Oscillator, and Chaikin Money Flow the market is bearish from the bear’s attack on December 10 but is slowly recovering. The indicators Bollinger bands and MACD forecast that a bullish trend might be underway.
Subscribe to AMBCrypto’s Newsletter
Ethereum [ETH] and Tron [TRX] Price Analysis: TRX tries to join ETH on the bull wagon
The cryptocurrency market continued to consolidate after days of bullish movements. Tron [TRX] was back in the 12th position on CoinMarketCap and continued its sideways trend. Ethereum [ETH] maintained its market position as the market’s best performing altcoin.
Ethereum [ETH] 1-Day
The 1-day reading for Ethereum [ETH] showed that the altcoin enjoyed a strong bull market throughout the year, with no visible resistance to break. The cryptocurrency’s bull run was the strongest over the last week, enabling investors to enjoy a 38% growth in ETH value. Following the spike, ETH settled at $257.51, and held a market cap of $27.3 billion. It had a 24-hour trading volume of $11.8 billion, at press time.
Bollinger Bands: The upper and lower bands have been diverging over the month, suggesting high volatility and a bullish trend
Awesome Oscillator: On the other hand, the red histogram projections in the AO displayed a rising selling pressure for the ETH market
Relative Strength Index: The token continued to be traced across the overbought zone.
Tron [TRX] 1-Day
Resistance 1: $0.0308
Contrary to Justin Sun’s promise of TRX’s bullish future, Tron [TRX] witnessed a drop in its position owing to BSV’s brief pump, before the status quo was restored again. During the 24 hour reading, the coin grew by 1.58% and traded at $0.0286, with its resistance at $0.0308, at press time. It held a market cap of $1.9 billion and a 24-hour trading volume of $737 million.
MACD: The MACD line over the the reading line and suggested a bullish market for TRX
Chaikin Money Flow: The CMF plot hovered very close to the zero line, suggesting an equilibrium in the capital flowing in and out of the TRX market
Parabolic SAR: The alignment of the dotted markers below the candlesticks suggested a bullish phase for the market
Ethereum [ETH] continued to consolidate its position in the market, while Tron [TRX] was making progress in breaking from its perpetual sideways movement.
Subscribe to AMBCrypto’s Newsletter
Bitcoin [BTC]: Israel classifies the world’s largest cryptocurrency as an asset, and not as a currency
Brave co-founder and CEO hints at web3 integration for Brave browser in a few months
Ripple executive elected to United States Faster Payment Council’s Board of Directors
Bitcoin [BTC] was never meant to be fast, claims Samson Mow as BCH responds with criticism
Monero’s [XMR] Riccardo Spagni calls Craig Wright ‘so dumb’; attacks Wright’s lawyer credentials
Tron [TRX] announces future trading on OKEx platform from May 20
Bitcoin’s [BTC] Lightning Network is awesome, says Blockstream’s Samson Mow
Tron [TRX]: Justin Sun short-changes new winner; awards USD equivalent instead of a Tesla
Crypto is replacing the US Dollar and no one seems to be noticing, claims prominent investor Robert Kiyosaki
Coinbase extends XRP trading access to New York users; coin pumps by 22%
Charlie Shrem claims when Mt Gox imploded, market created the first “token as debt”
XRP closes bullish week breaking 200-day MA; on the doorsteps of the Golden Cross
Game of Thrones ignites barrage of Bitcoin [BTC] bets on who will take the ‘Iron Throne’
Cryptopia: Stolen Ethereum transferred to unknown wallet days after exchange confirms liquidation