Ethereum [ETH] v. Tron [TRX] Price Analysis: ETH in a bear hug while TRX struggles to keep pace with the bull

Ethereum [ETH], the largest altcoin on CoinMarketCap, has been favored by big tech companies like Microsoft, which recently announced an open-source formal verification tool for Solidity smart contracts.

Tron on the other hand, is upbeat after news broke out that CEO Justin Sun was attending a charity lunch with legendary investor, Warren Buffett. It was positioned 11th on cryptocurrency charts, with the coin primed to overtake Stellar Lumens [XLM] on the basis of market cap.

1 Day ETH chart

Source: TradingView

The 24-hour trading volume for ETH was recorded at $8 billion, while its market cap was sighted at $26 billion. ETH was priced at $245.47, at press time.

An uptrend was recorded from $150.14 to $265.90, with resistance at $272.08 and support at $81.59.

Bollinger Bands indicated squeezing volatility in the market.

The Aroon indicator depicted sideways movement for the coin, at press time.

Awesome Oscillator denoted a falling momentum in the ETH market.

1 Day TRX chart

Source: TradingView

The 24-hour trading volume for Tron was almost $860 million, while the market cap was recorded at over $2 billion. TRX was priced at $0.033, at press time.

An uptrend was noted from $0.0130 to $0.0233, with resistance at $0.0385 and the support at $0.0117.

Parabolic SAR suggested a bullish market, as the dotted markers were sighted below the candles.

The MACD indicator was over the signal line, at press time. However, a bearish crossover was imminent.

Klinger Oscillator indicated a bearish market.

Conclusion

ETH was firmly in the bears’ domain, while TRX seemed to be nearing the end of its bullish curve.

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