The cryptocurrency market and its sideways movement have been ongoing for a long time as shown by the hold in the values of several top coins. Ethereum [ETH], the second largest cryptocurrency on the charts has only witnessed somber movements, but has been successful in keeping XRP at bay. Tron [TRX], Ethereum’s closest competitor in terms of competition, has seen a more active movement compared to ETH, but has still not been able to breach the top-10 bracket.

Ethereum 1-day:

Source: TradingView

Ethereum’s one-day chart showed a downtrend that lowered the price from $210.07 to $165.09. The long-term support for the cryptocurrency was at $83.17.

The Bollinger bands were parallel to each other as the sideways movement took hold of the market.

The Chaikin Money Flow indicator was above the zero line, which meant that capital coming into the market was more than capital leaving the market.

The Awesome Oscillator saw a fall in the amplitude, a sign of the decreased ETH market momentum.

Tron 1-day:

Source: TradingView

The one-day graph for Tron showed an uptrend that lifted the price from $0.132 o $0.127. The support was holding at $0.0127.

The Parabolic SAR was above the price candles which meant that the coin was moving through a bearish atmosphere.

The Relative Strength Index was close to the oversold zone because the selling pressure was more than the buying pressure.

The MACD indicator showed that the MACD line and the signal line underwent a bearish crossover, which resulted in the price fall. The MACD histogram was a mix of both bearish and bullish signals.

Conclusion:

The above-mentioned indicators stated that the market had fallen back into a bearish slump and that the sideways movement was here to stay for an extended period.

The post Ethereum [ETH] and Tron [TRX] Price Analysis: Sideways movement reigns supreme as bear market holds appeared first on AMBCrypto.

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