Ethereum [ETH] and Tron [TRX] struggle to get out of the coin market’s bear hug

2019-6-6 20:00

Ethereum, the largest altcoin, stood firm in the face of a turbulent coin market, whereas Tron [TRX] moved a notch up from its 12th position to the 11th position, on cryptocurrency charts.

1 Day ETH chart

Source: TradingView

Ethereum [ETH] recorded a 24 hour trading volume of over $9 billion, with its market cap around $26 billion, at press time.

An uptrend from $150.16 to $266.57 and a downtrend from $204.15 to $159.72 was noted. Resistance stood at $272.19, with support at $82.08.

Parabolic SAR depicted a bearish market as the dotted markers were seen above the candles.

MACD suggested a bearish crossover on the cryptocurrency charts.

Relative Strength Index projected equilibrium in buying, selling pressures in the market.

1 Day TRX chart

Source: TradingView

TRX registered a 24 hour trading volume of $1.31 billion, while it had a market cap of $2.3 billion.

An uptrend was noted from $0.0130 to $0.0227 on the charts. Resistance was found at $0.0384, while supports were found at $0.0222 and $0.0117.

Klinger Oscillator demonstrated a bearish market for TRX.

Awesome Oscillator indicated a small phase of bearish selling opportunity.

Chaikin Money Flow pointed towards growing money inflow into the market.

Conclusion

Both ETH and TRX remained firmly on the bears’ side.

The post Ethereum [ETH] and Tron [TRX] struggle to get out of the coin market’s bear hug appeared first on AMBCrypto.

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