Image credit: source

Ethereum [ETH] and Tron [TRX] witnessed devaluation as both tokens witnessed a minor fall in prices. At press time, Ethereum was dropping by 0.64 percent against the US dollar. The market capitalization recorded was around $17.2 billion, and the token was priced at $163.05.

Tron [TRX] witnessed a similar fall, declining by 1.33 percent. The token was valued at $0.024 and the market cap remained at $1.55 billion. The trade volume recorded over the past 24 hours was very healthy with around $670 million.

Ethereum one-day chart

Source: Trading View

Ethereum’s [ETH] one-day chart suggested that its price was consolidating sideways. The support line remained at $127.74 and the resistance line was scaled at $181.84. There were multiple uptrends extending the price from $139.87 to $181.27 and from $167.22 to $176.09.

The Bollinger Bands indicated a volatile period for the coin as the bands were diverging on the chart.

The Fisher Transform appeared bullish for the token since the red line was hovering over the blue line.

The MACD line was below the red line in the chart, pointing towards a bearish trend.

Tron one-day chart

Source: Trading View

Tron [TRX] one-day chart exhibited an uptrend which stretched the valuation from $0.024 to $0.0307, followed by a downtrend from $0.029 to $0.0249. Strong resistance remained at $0.0309 and the long-term support was lined at $0.0224.

The Parabolic SAR was bullish for the token as the dotted markers remained below the candlesticks.

The Awesome Oscillator implied bullish momentum for the token as the green bars appeared on the chart.

The Chaikin Money Flow line was below the zero line, indicating that the capital was flowing out of the market.

Conclusion

Indicators for Ethereum implied towards a neutral trend for the token whereas a bullish trend was evident for Tron in the charts.


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Biraajmaan Tamuly


Biraajmaan is an engineering graduate who is exploring the ever-changing crypto verse while traversing his passion for cryptocurrency news writing. He is a Chelsea fan and a part-time poet and does not hold any value in cryptocurrencies yet.


(Excerpt) Read more Here | 2019-05-06 06:18:30

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