The latest Bitcoin-propelled rally pushed the collective crypto-market to fresh gains. The bulls broke resistance levels for both Ethereum [ETH] and Tron [TRX].
At press time, the second largest crypto-asset ETH held a market cap of $17.27 billion and was priced at $163.6, according to the CoinMarketCap. The coin recorded a 24-hour trading volume of $6.75 billion and exhibited a slight decline of 0.76% during the same time frame. ETH further exhibited a major 14.66% rise over the week.
The eleventh largest digital asset, Tron [TRX], registered a market cap of $1.77 million and a 24-hour trading volume of $369.1 million. TRX was valued at $0.026 and exhibited a slip of $1.84% over the past 24 hours. Additionally, a significant surge of 13.72% was seen over the last seven days.
The one-day ETH chart exhibited an uptrend from $84.92 to $105.5, followed by a minor uptrend from $105.5 to $134.9. A major downtrend from $220.7 to $146.5 was also seen. The resistances for the chart were found at $179.4 and $213.4, while the support lines held their ground at $118.3 and $102.2.
- Bollinger Bands: The bands were diverging from each other and depicted a highly volatile period for the coin.
- Awesome Oscillator: The closing lines were green and a bullish phase was predicted for ETH.
- Chaikin Money Flow: The CMF was treading above the zero-line, indicating money flow into the market.
An uptrend from $0.013-$0.023 and a downtrend from $0.037 to $0.020 was registered for the candlestick arrangement of the one-day TRX chart. The resistances for the chart was found at $0.039 and $0.030 along with the support points at $0.018 and $0.014.
Parabolic SAR: The dotted markers were below the candles, depicting a bullish future for the coin.
MACD: The MACD line was above the signal line, which further indicated that the coin was following a bullish trail.
Klinger Oscillator: The reading line was also above the signal line and predicted a bullish trend for TRX.
The indicators exhibited strong bullish signals for both the digital assets. Additionally, ETH projected a potential price break-out patterns with expanding BB.
- Source: First Appeared Here
- Published Time: 2019-04-07 01:30:36
The views and opinions expressed in the article Ethereum [ETH] and Tron [TRX] Price Analysis: Bullish projection persists as ETH price break out patterns do not reflect that of 48coins, nor of its originally published source. Article does not constitute financial advice. Kindly proceed with caution and always do your own research.
Summarizing the article Ethereum [ETH] and Tron [TRX] Price Analysis: Bullish projection persists as ETH price break out patterns – top prominent words: 24-hour trading; 24-hour trading volume
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