Ethereum [ETH] and Tron [TRX] Price Analysis: Bulls retain control of coins

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Ethereum, the largest altcoin in the crypto-ecosystem, was valued at $269 and rose by 1.14% over the past 24 hours, at press time. The market cap of ETH was $28.66 billion, with a 24-hour trading volume of $8.80 billion.

Tron [TRX] saw a decline in value, falling by 1.72%; it was valued at $0.037. According to CoinMarketCap, the market cap of TRX was $2.511 billion, with $1.320 billion in 24-hour trading volume. At press time, TRX remained 12th on the list of the world’s top cryptocurrencies.

1-Day ETH

ETH recorded an uptrend from $158.352 to $266.921. The support line was at $243.762, while ETH recorded its closest resistance at $271.241.

Source: TradingView

Relative Strength Index exhibited high buying pressure for ETH.

Chaikin Money Flow marker was set at 0.199, well over the zero-line and showed that capital was flowing into the market.

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

1-Day TRX

TRX recorded resistance at $0.038, while support lines were found at $0.018 and $0.024. TRX saw two uptrends, first from $0.029 to $0.031, and the second from $0.030 to $0.035.

Source: TradingView

Source: TradingView

Bollinger Bands were diverging and indicated that market volatility could increase in the near future.

Parabolic SAR markers were under the candles and pointed towards a bullish pattern in the market.

MACD demonstrated a bullish trend as the moving average line was well over the signal line.

Conclusion

ETH and TRX coins moved with an unfaltering speed and held their bullish course. The bullish market also pointed towards heavy returns for investors, making them rejoice in the current market scenario.


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