2019-5-20 19:30 |
Ethereum [ETH], the second largest cryptocurrency on CoinMarketCap, was priced at $249.71, at press time. The market cap of ETH was $26.5 billion, with the coin falling by 2.62% over 24 hours. At press time, the 24-hour trading volume was just over $11 billion.
With $1.87 billion in market cap, TRX was ranked eleventh and was priced at $0.02, at press time. The 24-hour trading volume was $692.92 million, with the coin falling by 3.87% in value, at press time.
1-Day ETH
ETH saw resistance at $266.14, and its support lines were traced at $150.45 and $104.64. There was an uptrend extending from $153.89 to $261.56. ETH strengthened its value by experiencing a hike in price and retaining continuous growth for the past two weeks.
Bollinger Bands were diverging and showcased an increase in volatility in the market. As the moving average line was below the candlesticks, a bullish trend was forecast.
Awesome Oscillator conveyed a bullish buying opportunity as the short-term momentum was rising swiftly.
Chaikin Money Flow indicator revealed that the amount of money flowing into the market was greater than the money flowing out of the market.
1-Day TRX
The resistance stood at $0.03 and the support lines stood at $0.02 and $0.01 for TRX. TRX saw its first uptrend from $0.026 to $ 0.031, and the second uptrend was from $0.024 to $0.034.
Moving Average Convergence/Divergence [MACD] indicator pictured a bullish crossover.
Parabolic SAR indicator conveyed a bullish trend as the dotted markers were traced below the candlesticks
Relative Strength Index indicator showed bullish divergence due to the oversold condition of the market.
Conclusion
The coins were strengthened by the bullish market trend. All indicators showed both coins recording steady and forward movement.
The post Ethereum [ETH] and Tron [TRX] Price Analysis: ETH and TRX bulls race to the top appeared first on AMBCrypto.
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