Bitcoin’s [BTC] recent comeback has reignited the rise of the altcoin market. With a record growth of 105% in five months, Ethereum [ETH] maintained its position as the best performing altcoin for value recovery. Tron [TRX], on the other hand, demonstrated sideways movement throughout the year, despite recording some insignificant gains after the crypto-winter.
Ethereum [ETH] 1-Day
The one-day chart for Ethereum [ETH] showed a strong and consistent bullish trend. The top-performing altcoin recorded a growth of 0.91% over 24 hours, placing the coin at $252.11, with a market cap of $26.7 billion, at press time. Additionally, the coin held a 24-hour trading volume of $10.1 billion.
The chart also showed no prominent support or resistance for the crypto, signaling an ongoing bullish trend for long-term investment.
Bollinger Bands: The upper and lower bands were highly divergent, suggesting an increase in the coin’s volatility.
Relative Strength Index: The token was uncomfortably close to the overbought zone.
MACD: The strong blue histogram plots and the positioning of the MACD indicator indicated a bullish market for ETH.
Tron [TRX] 1-Day
Resistance 1: $0.030
Support 1: $0.022
Tron [TRX] has been struggling to maintain a consistent trading value, despite the collective market booming. The coin recorded strong sideways movement through the year and held strong support at $0.022 and resistance at $0.030. With a market cap of $1.9 billion, TRX consolidated its position on the top crypto list, right below Cardano. The crypto gained 3.81% in value over the last 24 hours, and was trading at $0.029, during press time.
Parabolic SAR: The dotted markers were found below the candlesticks, suggesting a strong bullish market.
Awesome Oscillator: The histogram displayed green projections with intermittent red spikes, indicating incoming selling pressure.
Chaikin Money Flow: The CMF maintained its position over the zero line, indicating a growing flow of capital into the TRX market.
While ETH continued to perform well on the back of the crypto-market booming, TRX continued to hesitate in taking the bull’s side.
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