The tumultuous cryptocurrency has seen its highs and lows over the past week and the resulting price fluctuations have been consistent across the cryptocurrency charts. Popular cryptocurrencies like Bitcoin [BTC], Ethereum [ETH] and Tron [TRX] have all received a mixed bag of sorts in terms of the prices. The Justin Sun led company has been on quite a roll with multiple announcements and updates coming out of the company stables. Although the TRONics were delighted with the recent price hike, the current scenario seems to be a tad different.
The trend lines show a visible downward trend with the sideways price movements stabilizing after the massive bullish spike. Tron had held a support of $0.0249 which was consistent for a couple of hours post which, it dropped to its current support of $0.0246.
Another major pointer that the trend line has revealed is that the support after the bull run has settled higher than the six days prior to Tron rising to $0.0273. The MACD and the signal lines have crossed over multiple times with the MACD histogram almost flat, indicating a sideways movement of the prices sprinkled with some bearish pulls. The MACD graph coincides directly with the price chart and is tending towards the bear’s realm.
The Bollinger bands are showing a consistent pipe-like shape which is indicative of the absence of a price outbreak. The bearish trend is clearly seen on the bands which have maintained is shape but has been depressed in terms of price. Tron’s price movements have stayed between the up[per Bolliger band and the lower Bollinger band, a sign of a sustained price movement.
The Relative Strength Index [RSI] shows Tron maintaining a close relationship with the overbought zone. The day’s price has stayed consistently between the overbought and oversold zone. The past month, according to the charts showed the cryptocurrency tending more towards the oversold zone.
The RSI also shows that even though Tron has maintained a healthy relationship with the overbought zone, the bear’s clutches just does not seem to let go of it completely, bringing the price back down towards the oversold line.
Tron seems to be headed towards a path peppered with slight bearish drops in a majoritarian sideways price movement.
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Facebook’s Libra hit by more accusations, Balaji Srinivasan on BTC investment and more
Crypto News – 24 June – Facebook’s Libra hit by more accusations, Balaji Srinivasan on BTC investment and more
— AMBCrypto (@CryptoAmb) June 24, 2019
Crypto News – 24 June
Erik Voorhees on Bitcoin: According to the CEO of Shapeshift, Bitcoin’s relative traceability has allowed governments to become comfortable with it
Read more at https://bit.ly/2WVviJW
Max Keiser on gold’s ‘resurgence:‘ Max Keiser made news after he stated that Bitcoin’s growing popularity as a competing store of value and millennials were responsible for gold resurfacing in the conversation about store of value assets
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Tron back in the top 10: A month after CEO Justin Sun promised to get Tron back in the top 10 of the world’s largest cryptocurrencies, TRX surged by over 6% to achieve the same by overtaking Cardano
Read more at https://bit.ly/31TXekX
Bank of International Settlements on Libra: While talking about Facebook’s Libra, BIS’s report attested to the need for sound public policy, financial regulation, competition regulation, and data privacy regulation
Read more at https://bit.ly/2Fsoptu
Bitcoin short futures position on the rise: According to a Twitter user, 70% of all Bitcoin short futures position are taken by four traders
Read more at https://bit.ly/31Om4CQ
LocalBitcoins’ Russian Ruble trading charts: According to CoinDance, the weekly LocalBitcoins chart revealed that the Russian Ruble [RUB] recorded towering volumes, even after the June 1 cash-exodus announcement
Read more at https://bit.ly/2JgRWYz
Howard Chu on Monero: According to the Founder of Symas Corp., Monero was “outstripping” other projects in the space which have larger budgets, in light of the new features added to Monero
Read more at https://bit.ly/2Y8IsEQ
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