Tron and Ethereum have had a tumultuous few weeks. The Justin Sun-led Tron, despite developments and updates, has struggled to go up on the charts, while Ethereum continues to be the best performing altcoin in the cryptocurrency ecosystem.
Ethereum 1 day
Source: TradingView
Ethereum registered a clear uptrend after the cryptocurrency’s price shot up from $231.45 to $283.43. The long-term support for Ethereum was at $151.99.
The MACD indicator showed a slightly bearish turn as the signal line and the MACD line crossed over.
The Relative Strength Index was close to the overbought zone, an indication of the buying pressure being more than the selling pressure.
Tron 1 day
Source: TradingView
The one day graph showed that the cryptocurrency suffered a fate opposite to that of Ethereum. The downtrend caused the price to drop from $0.0384 to $0.322. The long-term support was at $0.0228.
The Parabolic SAR was above the price candles, which meant that the cryptocurrency was going through a bearish atmosphere.
The Chaikin Money Flow was just above the zero line, a sign of the capital coming into the market being more than the capital leaving the market.
Conclusion
Despite Bitcoin’s dominance on the charts, the altcoins are yet to reflect the same behavior. Tron and Ethereum are just some of the cryptocurrencies struggling to break-out of the bear’s clutches to reach their respective highs.
