Ethereum [ETH] vs Tron [TRX] Price Analysis: Coins march on even as bears look on

By June 1, 2019 Altcoins
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Ethereum [ETH], the largest altcoin in cryptospace, nosedived by 9.69% over 24 hours, at press time. ETH had a market cap of $27.2 billion and a 24-hour trading volume of $13.1 billion. According to CoinMarketCap, ETH was valued at $256.1, at press time.

Tron [TRX] retained its position due to hugely popular DApps. TRX was priced at $0.031, as its value fell by 10.64% over 24 hours. With a market cap of $2.1 billion, TRX reinforced its 12th position on CoinMarketCap.

1-Day ETH

Resistance line was positioned at $271.24. ETH saw an uptrend from $156.91 to $266.13 and the support line was at $130.92.

Bollinger Bands displayed decreasing market volatility as the bands were converging.

Parabolic SAR had the dotted markers below the candlesticks, depicting bullish trend.

MACD pictured a bearish crossover.

1-Day TRX

TRX saw three uptrends, first from $0.021 to $0.028, and the second one from $0.029 to $0.030. Support lines were positioned at $0.024 and $0.018, respectively. TRX faced resistance at $0.035.

Relative Strength Indicator indicated that the buying pressure was high in the market.

Awesome Oscillator showed that short-term momentum was greater than the long-term momentum, pointing towards a bullish buying opportunity.

Chaikin Money Flow indicator was positioned well above the zero-line, showcasing that money flowing into the market was higher than the capital flowing out of it.

Conclusion

While the two coins stayed bullish, some bearish action slowed down the bullish momentum, especially in ETH.

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