Ethereum [ETH] vs Tron [TRX] Price Analysis: Coins conquer altcoin universe with bulls’ strength

At press time, Ethereum was priced at $268.371 and was sustaining a bullish ride after falling by a meager 0.11%. Altcoins were immovably driving the bullish charge in the crypto ecosystem. At press time, the market cap of ETH was $28.533 billion, with a 24-hour trading volume of $9.4 billion.

Tron [TRX] saw a surge of 12.46% over the past 24 hours and was valued at $0.038. According to CoinMarketCap, the market cap of TRX was $2.59 billion, with $1.66 billion in trading volume over the past 24 hours.

1-Day ETH

ETH saw an uptrend from $156.91 to $266.13. The support line was positioned at $243.76, while the resistance was at $271.24.

Source: TradingView

Bollinger Bands revealed a decrease in volatility as the bands were converging.

Parabolic SAR markers were below the candles and pointed towards a bullish trend in the market.

MACD showed a bearish presence as the moving average line was below the signal line.

1-Day TRX

TRX’s resistance was at $0.038 while support lines were at $0.018 and $0.024. TRX saw three uptrends, first from $0.029 to $0.031, the second from $0.031 to $0.035, and the third uptrend from $0.035 and $0.038.

Source: TradingView

Relative Strength Index showcased the coin nearing the overbought zone.

The Chaikin Money Flow indicator was placed at 0.202, well above the zero-line and indicated that capital money flowing into the market was greater than the capital flowing out.

Awesome Oscillator pointed towards a bullish buying opportunity as the short-term momentum was greater than the long-term momentum.

Conclusion

ETH and TRX rallied with a steady pace and retained their bullish momentum.

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