As crypto-traders departed from Bitfinex following the alleged cover-up of $850 million using the stablecoin Tether, the cryptocurrency market posted significant losses.
The second largest crypto-asset, Ethereum [ETH], was at press time, holding a market cap of $16.40 billion and was valued at $155. The digital coin recorded a 24-hour trading volume of $8 billion and depreciated by 5.45% over the past 24 hours.
The eleventh largest coin, Tron [TRX], held a market cap of $1.53 billion and registered a 24-hour trading volume of $756.6 million. The coin was priced at $0.023, after a decline of 2.34% over the past 24 hours.
1-day ETH chart
The candlestick arrangement on ETH’s one-day chart exhibited three uptrends from $85 to $105.30, $105.30 to $135.28 and from $135.40 to $154.40. A downtrend from $212.9 to $146.3 was also observed.
The resistance points for the chart were marked at $213.12 and $230.30. The supports for the crypto-asset stood firm at $128.40 and $106.12.
Bollinger Bands: The parallel bands depicted low volatility for ETH’s price.
Awesome Oscillator: The closing bars of the indicator were red and predicted a bearish pattern for the coin.
Chaikin Money Flow: The CMF spiked above the zero-line, indicating that money was flowing into the coin market. Hence, a bullish price trend for Ethereum was predicted.
1-day TRX chart
The one-day TRX chart projected an uptrend from $0.012 to $0.028 and a downtrend from $0.024 to $0.013. The coin was anticipated to retrace the previously traded $0.040 resistance mark. The support for the coin stood firm at $0.018 and $0.014.
Parabolic SAR: The dotted markers were above the candles, indicating a bearish pattern for the crypto-asset.
MACD: The MACD line was also below the signal line, exhibiting a bearish pattern for Tron’s valuation.
Klinger Oscillator: The reading line was below the signal line and exhibited a bearish trend for the coin’s price.
A period of low volatility was predicted for Ethereum [ETH], while Tron [TRX] was being ravaged by the bear.
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