2019-4-28 13:30 |
The cryptocurrency market witnessed a fall of valuation due to the Bitfinex-Tether fiasco and top altcoins suffered. At press time, Ethereum [ETH] witnessed a 24-hour hike of 0.83 percent but suffered a major fall of 8.40 percent over the past seven days. The token was valued at $157.91 and the market capitalization was around $16.7 billion.
Tron [TRX] experienced a minor decline of 0.08 percent over the past day, but similar to Ethereum, TRX plummeted by 7.87 percent over the week. The trade volume in the last 24 hours was $562 million and the market cap remained at $1.575 billion.
Ethereum one-day chart:
Source: Trading View
The one-hour chart of Ethereum [ETH] appeared marginally bullish over the trend, but since the price surge earlier this month, the price had been on a downtrend. The resistance was placed at $181.24 and the support line was at $102.93. The token experienced an uptrend from $137.57 to $180.17 and the downtrend extended the valuation from $165.31 to $152.06.
The Bollinger Bands indicated a volatile period for the token as the markers diverged.
The Fisher Transform line was hovering below the red line on the chart, indicating a continued bearish control.
The MACD line also appeared bearish for the token as the red line was placed above the blue line.
Tron one-day chart:
Source: Trading View
Tron [TRX] prices had been consolidating between the resistance line of $0.0309 and the support line of $0.0214. An uptrend was seen from $0.027 to $0.0307, but the price plummeted severely as the downtrend stretched from $0.0299 to $0.023.
The Parabolic SAR exhibited bearish traits for the token as the dotted markers remained above the candles.
The Awesome Oscillator or AO pointed at a bearish momentum as red bars dominated the charts.
The Chaikin Money Flow or CMF line exhibited an absence of capital flowing in as the CMF line was below the zero line.
Conclusion:
Both the tokens suffered a major fall in valuation over the week and the indicators failed to point towards a positive hike in the near future.
The post Ethereum [ETH] and Tron [TRX] Price Analysis: Bears establish firm hold on tokens appeared first on AMBCrypto.
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