2019-4-9 14:30 |
After the coin market collectively hiked on the back of Bitcoin’s surge, Ethereum [ETH] underwent price correction, as the token dropped by 3.66 percent against the US dollar. The market capitalization also dropped to $18.5 billion and the token was priced at $175.55, at press time.
Justin Sun’s Tron [TRX] however, continued to drive its price with a bullish outlook as the token improved its valuation by 2.35 percent over the past 24 hours. The trade volume recorded was approximately $765 million, about $200 million more than the previous day, while the token was valued at $0.0293, at press time.
Ethereum 1-day chart
The one-day chart for Ethereum showcased a minor fall in prices. Since the bull run however, the token improved its valuation. The token exhibited an uptrend which pushed the price from $137.56 to $164.78. The new resistance line was drawn at $181.42 and the support line was at $102.31
The Parabolic SAR indicated that the token remained in bullish territory as the dotted markers hovered below the candlesticks.
The Awesome Oscillator indicated bullish momentum in the market as the green bars remained prominent in the chart.
The Fisher Transform line was over the red line at press time, indicating a bull run.
Tron 1-day chart
The one-day chart for Tron sported a new support line at $0.0213, with the resistance line at $0.0309. The token exhibited an uptrend which extended from $0.025 to $0.0291.
The Bollinger Bands continued on a diversion course as the token remained volatile.
The MACD line appeared above the red line and pointed towards a bullish run for the token.
The Relative Strength Index pointed towards the dominance of sellers in the market as the token remained oversold. However, the line was threatening to enter the neutral zone.
Conclusion
According to the indicators, Ethereum underwent price correction after the prices consolidated after the bull run. Tron [TRX] continued to surge with bullish momentum, aiming to break into the top 10 cryptocurrency list.
The post Ethereum [ETH] and Tron [TRX] Price Analysis: Coins remain bullish despite market correction appeared first on AMBCrypto.
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