2019-5-11 13:30 |
Most cryptocurrencies in the market followed the price hike of the largest cryptocurrency Bitcoin [BTC] on May 11 as the coin closed in on the $7k mark. Along with BTC, the prices of most altcoins too observed a rise, including Ethereum [ETH] and Tron [TRX].
Ethereum [ETH]
At press time, ETH was valued at $179 with a market cap of $18.98 billion. The 24-hour trading volume of the coin was reported to be $8.50 billion as it spiked by 2.77% over the past day. In the past seven days, ETH reported a growth of 7.31% and continued to move up by 0.88% in an hour.
Source: Trading View
Resistance- $181.78
Support- 154.60
Bollinger Bands appeared to have diverged, indicating an increase in market volatility. The moving average line was under the candlesticks, thus, marking a bullish market.
Awesome Oscillator pointed towards a strengthening bearish momentum.
Chaikin Money Flow indicated a bearish trend as the marker line was under zero.
Tron [TRX]
At press time, TRX was valued at $0.0236, with a market cap of $1.57 billion. The 24-hour trading volume of the coin was $732 million as it noted a growth of 2.20% over the past day and over 1% in an hour. In the past week, TRX noted a fall of 0.50%.
Source: Trading View
Resistance- $0.0307
Support- $0.0225
Parabolic SAR marked a bearish market as the markers aligned above the candlesticks.
MACD line was under the signal line, thus pointing towards a bearish market.
Relative Strength Index indicated that the buying and the selling pressures evened each other.
Conclusion
According to the long-term charts of ETH and TRX, a bearish trend was forecast for the coins.
The post Ethereum [ETH] vs Tron [TRX] Price Analysis: Bears show strong resistance to bulls appeared first on AMBCrypto.
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