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Analysis

Tron [TRX/USD] Technical Analysis: Token’s bullish move under threat from the bear

Akash Anand

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Tron [TRX/USD] Technical Analysis: Token's bullish move under threat from the bear
Source: Unsplash

The recent behavior of the cryptocurrency market can be compared to that of a rollercoaster, with the prices moving up and down sporadically. The market shift has also affected major coins like Bitcoin [BTC], Ethereum [ETH] and Tron [TRX], which have seen a mix of both uptrends and downtrends. Tron, which has been in the news multiple times recently, owes its success to the rapid developments and updates.

1-hour:

The one-hour graph of Tron shows a cryptocurrency in the throes of the bear, but trying to escape it. The support has been holding at $0.0236, while the resistance is at $0.0263. The visible downtrend resulted in the price dropping from $0.0262 to $0.0255.

The Relative Strength Index is in the middle of the graph, which is a sign of the selling pressure being equal to the buying pressure.

The Chaikin Money Flow has been holding above the zero-line, after which it has slightly dipped below it. The fall below the line shows that the capital leaving the market is more than the capital coming into the market.

1-day:

The one-day graph paints a different picture as Tron is one of the better performers in the market. The long-term support is at $0.0117 while the uptrend lifted the price from $0.0133 to $0.023.

The Bollinger bands show the market volatility slowing down as the upper band and the lower band have both started moving in a parallel fashion. The lack of major price outbreaks is also evidenced by the small size of the Bollinger cloud.

The Awesome Oscillator has dropped in amplitude as the market momentum has decreased since the beginning of 2019.



Conclusion:

The above-mentioned indicators all point to Tron continuing its sideways movement behavior after the last bull run lifted its immediate support. At the moment, the market does not show signs of any major trend changes or outbreaks.





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Engineering graduate,crypto head and Arsenal fan. Is fascinated by technology and all its marvels. Strictly against pineapple on pizza.

Analysis

XRP vs Stellar Lumens [XLM] Price Analysis: Bulls suppress bears to push market forward

Yash Rajan

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XRP vs Stellar Lumens [XLM] Price Analysis: Bulls suppress bears to move forward
Source: Pixabay

XRP, the third largest cryptocurrency, was priced at $0.383 agfter falling 1.87% over the 24 hours, according to CoinMarketCap. XRP held a market cap of $16.121 billion and registered $1.29 billion in 24-hour trading volume for XRP.

At press time, Stellar Lumens [XLM] was priced at $0.125, after falling 1.56% over the past 24 hours. It stood ninth on the top 10 list with a market cap of $19.302 billion and $844.41 million in 24-hour trading volume.

1-Day XRP

XRP saw an uptrend from $0.331 to $0.461 and a downtrend from $0.461 to $0.388. Resistances were at $0.458 and $0.420. Support lines were located at $0.371 and $0.285.

Source: TradingView

Source: TradingView

Parabolic SAR presented a bearish trend as the markers were above the candles.

Moving Average Convergence/Divergence [MACD] indicator was undergoing a bearish crossover.

Relative Strength Index showed a relatively overbought status for the coin.

1-Day XLM

On the one-day XLM chart, the resistance line stood at $0.143 and the support lines stood at $0.115 and $0.091. It saw an uptrend from $0.133 to $0.141. XLM also saw a downtrend from $0.142 to $0.125.

Source: TradingView

Source: TradingView

Bollinger Bands displayed an increase in volatility in the market as the bands were diverging.

Awesome Oscillator presented a bullish buying opportunity.

Chaikin Money Flow indicator was above the zero-line, indicating that money was flowing into the market.



Conclusion

XRP saw a fusion of bullish and bearish trends while XLM sides with the bulls after being stalled by bears for the past one month.





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