Ethereum [ETH] and Tron [TRX] Price Analysis: Prices rise, but bears yet to abandon market
Ethereum [ETH] and Tron [TRX] continued their sideways movement as they looked to recover from a minor price fall. The Vitalik Buterin-backed virtual asset improved its valuation by 3.13 percent against the US dollar and was priced at $169.62, at press time. The trade volume recorded over the last 24 hours was about $5.06 billion.
Tron [TRX] kept pace with the coin and witnessed a hike of 2.60 percent and a market capitalization of around $1.79 billion. The coin was valued at $0.0269 and the trade volume garnered was around $320 million, at press time.
Ethereum 1-day chart
The one-day chart for Ethereum exhibited a downtrend which lowered the valuation from $140.71 to $108.79. However, the recent bullish run helped the token improve its price from $140.71 to $181.34. The resistance line since the bullish wave has remained at $181.84, while the support line was at $105.78.
The Parabolic SAR’s dotted markers remained above the candlesticks and pointed towards a bearish trend for the token.
The Chaikin Money Flow indicated a cash in-flow for the token’s market as the CMF line remained above the zero line.
The Awesome Oscillator gave the bears an upper hand in terms of market momentum as red bars dominated the chart.
Tron 1-day chart
Tron’s one day chart showcased sideways movement for the token between the resistance line at $0.0309 and the support at $0.0214. The token witnessed an uptrend during the price surge, which improved the valuation from $0.0272 to $0.0308.
The Bollinger Bands indicated a period of reduced volatility for the token as the indicators were converging on the chart.
The Fisher Transform line hovered below the red line on the chart and indicated a bearish trend for the token.
The MACD indicator pointed to a bearish trend in the offing.
Both tokens were pushing to recover after the recent fall in prices. However, the coins’ long-term indicators continued to indicate a bearish trend for the market.
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