HomeTodays NewsEthereum [ETH] and Tron [TRX] Price Analysis: Coins struggle to recover despite some bullish activity
Ethereum [ETH] and Tron [TRX] Price Analysis: Coins struggle to recover despite some bullish activity
May 7, 2019
Though Bitcoin [BTC] helped the crypto-world regain its valuation, not all players in the altcoin universe were recovering at the same pace. Ethereum [ETH] led this comeback as the strongest altcoin, while maintaining the highest ROI of 5,581.56%. On the other hand, Justin Sun’s Tron [TRX] has been steadily losing its market capitalization and was trading at 11th on CoinMarketCap, at press time.
The 1-day chart for Ethereum [ETH] shows the value of the biggest altcoin maintaining a sideways trend. Although the crypto-coin retained its growth trajectory in mid-December 2019, it displayed a bearish market for the past month due to increased selling pressure from investors.
With no prominent resistance to break, ETH was positioned well to release the bulls back into the market. ETH fell by 1.98% over 24-hours and was valued at $168.30, at press time. Additionally, ETH had a 24-hour trading volume of $5.7 billion and a market cap of $17 billion.
Relative Strength Index: The RSI indicator maintained a comfortable position above 50, suggesting no immediate selling or buying pressure dominance.
Klinger Oscillator: The KO plotted a bearish course for the altcoin.
Parabolic SAR: The dotted markers were aligned below the candlesticks, indicating a bullish market for the altcoin.