Ethereum [ETH] and Tron [TRX] Price Analysis: Coins set to gain momentum with bull’s return

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Most cryptocurrencies recorded both uptrends and downtrends in the seven-day timeframe. Some cryptocurrencies such as Cardano [ADA], Binance Coin [BNB], and EOS recorded double-digit growth, while others such as Ethereum [ETH] and Tron [TRX] recorded barely any movement.

Ethereum 1-day

Ethereum one-day price chart | Source: TradingView

The one-day chart for Ethereum displayed downtrends from $247.76 to $157.55, and further south till $136.08. The uptrends for the cryptocurrency were recorded from $82.92 to $103.22, and further till $133.26.

The immediate resistance for the coin was at $140.57 and strong resistance was at $218.72. The immediate support for the cryptocurrency was placed at $125.18, while strong support was at $82.78.

Parabolic SAR showed the bull at the coin’s door as the dotted lines were aligned below the candlesticks.

Chaikin Money Flow also forecasted the bull’s arrival as money was flowing into the market, indicating its support for a green market.

MACD, on the contrary, pictured the moving average line creeping below the signal line.

Tron 1-day

Tron one-day price chart | Source: Trading View

Tron one-day price chart | Source: TradingView

The one-day chart for Tron demonstrated downtrends from $0.0390 to $0.0294, and $0.0294 to $0.0246. The uptrends for the coin were recorded from $0.0119 to $0.0129, and from $0.0129 to $0.0226.

The immediate resistance for the coin was set at $0.0246 and strong resistance was at $0.0390. The coin’s immediate support was at $0.0214, while strong support was found at $0.0118.

Chaikin Money Flow remained optimistic about the eleventh-largest cryptocurrency’s future as money was flowing into the market in its support.

Bollinger Bands forecast a market with reduced volatility for the currency as the bands were converging, leaving minimal space for price movements.

Klinger Oscillator indicated a bull wave for the coin as the reading line had crossed over the signal line.

Conclusion

The charts showed that a bull run was imminent for these cryptocurrencies as a majority of the indicators were projecting the bull’s return to the coin’s market.


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Priya

Priya is a full-time member of the reporting team at AMBCrypto. She is a finance major with one year of writing experience. She has not held any value in Bitcoin or other currencies.

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