The cryptocurrency market as a whole was a little bit erratic at the moment. With major altcoins displaying different trends, there was a sense of uncertainty in the charts. Bitcoin, Tron, and Dash followed separate market trends over the last day as the threat of another bearish pullback loomed large in the industry.
Bitcoin hourly chart
While all the other assets underwent a drop in the past week, the king coin managed to keep its price position at the top of its recovery. However, the current position of Bitcoin feels very temporary at the moment. All the market indicators are hinting towards a correction at press time. Bitcoin‘s rising price has been coupled with the Relative Strength Index consistently declining.
It is a clear sign of a bearish diversion in the charts which will pan out towards a pullback. At the moment, Bitcoin was getting the support of the 50-day Moving Average but the Awesome Oscillator suggested that diminishing bullish momentum in the charts.
Bitcoin had a market cap of $202 billion at press time with a trading volume of $28 billion in the last 24-hours. With a minor growth of 0.43%, Bitcoin was valued at $10,958.
Tron hourly chart
With Tron, the past-day was relatively positive. A growth of 9.54% was exhibited, outperforming top assets in the 24-hour window. The asset also managed to sustain a position above the 50-Day Moving Average, which a positive sign in the short term. At the moment, Tron was ranked 15th in the charts with a market cap of $2.08 billion. Tron registered a high trading volume of $3.20 billion, indicating activeness in the ecosystem.
According to Chaikin Money Flow or CMF, the capital coming in Tron was more than the capital going out, as interest from traders showed promise. Bollinger Bands appeared to resemble a parallel flow, which might suggest that the volatility will remain stagnant over the next few hours.
Dash hourly chart
Lastly, Dash‘s price movement suggested extreme sideways movement over the past few days but the bearish undertone was evident. With a minor growth of 0.05% in the charts, Cardano exhibited a market cap of $707 million, coupled with a formidable trading volume of $591 million. At press time, Cardano was ranked 31st in the list of digital assets.
For Dash, the trend was slowly inclining towards a bearish nature, as the MACD line suggested a crossover with the signal line. According to Parabolic SAR, the trend indicated an increase of selling pressure as the dotted lines hovered over the candlesticks. The convergence of Bollinger Bands also suggested the fall in volatility, eliminating the chance of outburst towards the top.