Ethereum [ETH] and Tron [TRX] Price Analysis: TRX struggles to keep up with ETH’s momentum

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

Source: TradingView

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

Source: TradingView

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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