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Tron [TRX] Could Endure A Correction Before Its Big Breakout

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Tron [TRX] suffered a major setback as it slumped down the crypto ladder. Despite this, the coin had smooth sailing in terms of price.

The global market cap of the crypto market was at a high of $1.46 trillion. Ethereum [ETH] had moved past $200 billion in market cap as Bitcoin [BTC] continued staying above Tesla and Facebook. The rise in the institutional interest in the king coin pumped its price to a high of $47K. While BTC hasn’t moved past this, the community speculated that the coin could pump up to a high of $60K soon. XRP seemed to have tackled the bears induced by the SEC as it was surging over 4% in the last 24-hours.

Dogecoin [DOGE], Uniswap [UNI], Bitcoin SV [BSV], and several others pushed TRX down to the twentieth position. The market cap of the asset was noted at $3.9 billion. At press time, TRX was trading for $0.054 with a 1.28% drop in the last 24-hours.

Tron [TRX] One-Hour Price Chart

Tron
Tron [TRX] Could Endure A Correction Before Its Big Breakout 3

The one-hour price chart of the altcoin was indicating the presence of the bear. The Parabolic SAR indicator with dotted lines above the candlesticks blocked the chances of an upward breakout in the next couple of hours. The Awesome Oscillator indicator also followed suit and announced bear occupancy in the TRX market. The short term price chart of TRX on Binance had limited activity, the Relative Strength Index indicator pointed out.

Tron [TRX] One-Day Price Chart

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Tron [TRX] Could Endure A Correction Before Its Big Breakout 4

The Bollinger Bands indicator used in the one-day price chart of TRX suggested that Justin Sun’s coin was in for an increase in volatility. The MACD line was over the signal line and this crossover was achieved back at the beginning of the month. The MACD indicator hence revealed a bullish sentiment. The Stochastic RSI indicator had almost hit 100 median further reporting that TRX was being overbought.

Cardano [ADA] And XRP Could Finally Hit $1

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The entire crypto market was painted green. Cardano [ADA], as well as Binance Coin [BNB], were seen spearheading the bull run. Bitcoin [BTC] was still struggling to push past $46K, while the crypto community was hoping the coin would hit an all-time high of $50K. XRP had finally left behind the bears as it was surging by over 12% in the last 24-hours. Despite this, the coin dropped down to the fifth position as ADA surpassed the asset in terms of market cap. Dogecoin [DOGE] had picked up pace as the coin was back at $0.073, albeit its 7% fall over the day.

Cardano was out and about. With a 30% surge in the last 24-hours, the altcoin pushed its price to a high of $0.87. Over the last seven days, ADA managed to garner gains up to 103%. The market cap of the altcoin didn’t fall back, it seemed to be in sync with the ongoing trend as it hit a high of $26.8 billion, during press time. Currently, Cardano stands as the fourth-largest cryptocurrency.

Cardano [ADA] One-Day Price Chart

Cardano
Cardano [ADA] And XRP Could Finally Hit $1 7

The one-day price chart of the altcoin was seen providing shelter to the bulls. The Parabolic SAR indicator laid out dotted lines below the candlesticks which stood as a barrier against any possible downtrend. The Awesome Oscillator indicator formed green closing bars indicating a bullish momentum in the ADA market. The Relative Strength Index [RSI] was way above the 80 median and suggested that the altcoin was being overbought.

XRP One-Day Price Chart

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Cardano [ADA] And XRP Could Finally Hit $1 8

The XRP market revealed a similar trend. The MACD indicator formed a bullish crossover as the MACD line was above the signal. The Money Flow Index [MFI] indicator suggested that a buyers’ sentiment was intact in the XRP market. This signaled that the altcoin was finally getting past the damage that the SEC lawsuit had done to Ripple as well as XRP.

Both these assets have tried long and hard to hit $1. The prolongation of this trend could further aid the assets’ journey to $1.

Musk-Effect: Bitcoin [BTC] Blasts Off As Price Nears $50K

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Bitcoin’s [BTC] frenzy has kicked in yet again, this time leading to another powerful surge close to $50,000. It was not just an ordinary industry-induced rally. The latest bullish price action was accompanied by a massive endorsement by none other than Tesla CEO, Elon Musk.

BTC 1
Musk-Effect: Bitcoin [BTC] Blasts Off As Price Nears $50K 11

So what’s the news?

Tesla just announced in a US Securities and Exchange Commission [SEC] Form that the car-maker not only purchased $1.5 billion worth of Bitcoin but was also planning to incorporate Bitcoin and other cryptocurrencies into their payment mode.

However, for most of February, it was Dogecoin [DOGE] that gained much traction after a series of tweets where Tesla and SpaceX exec. But his bets on Bitcoin was no less game-changing.

The tech giant first publicly announced support for BTC was on the 29th of January this year when he said that Bitcoin’s growth “was inevitable” shortly after changing his bio on the micro-blogging site to ‘Bitcoin’.

The FOMO has not just bolstered BTC to successfully breach its all-time high but has also induced the entire crypto market to go on a wild ride to levels never seen before.

Hence, this might be the most important bull market in BTC’s lifetime. Even as the crypto-asset dipped last month, the investor sentiment had stayed positive throughout the week which prompted the price to recover and trend higher.

One of the most important development was the fact that MicroStrategy continued its goal of pushing crypto to institutions as it hosted its first-ever Bitcoin for Corporations event last week. Thus paving the way for a new set of investors to enter the cryptocurrency industry.

BTC Tweet Volume

According to the data compiled by ‘The Tie‘, Bitcoin’s tweet volume hit a new all-time high with over 143K tweets sent over the last 24 hours, alone. The previous all-time highs were on the 2nd of January 2020 and the 22nd of December 2017.

The Tie
Musk-Effect: Bitcoin [BTC] Blasts Off As Price Nears $50K 12

Glassnode Co-founder had recently revealed that the supply of Bitcoin on cryptocurrency exchanges has dropped to levels last seen back in January 2018 right at the peak Since then another 1.8 million BTC have entered circulation, all of which have gone to strong hands accumulating.

Binance Coin [BNB] Hits New All-Time High As It Continues To Be Overbought

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The market cap of the crypto industry was seen soaring to a high of $1.13 trillion. Binance Coin [BNB], Bitcoin [BTC], Polkadot [DOT], and several other coins were seen fueling this trillion-dollar journey. Polkadot had once again flipped XRP in terms of market cap as the former moved to a high of $18.33 billion. Almost all the coins were seen moving upwards and Bitcoin was seen at a high of $37,601, at press time. Ethereum [ETH] and Polkadot had moved past their previous all-time highs. ETH was noted at a high of $1,623 while DOT was at $20.17. Dogecoin [DOGE] was once again surging after Elon Musk’s latest tweet.

Binance Coin was seen following a similar trend as ETH and DOT. At the time of writing, BNB was retracing at $53.92 after hitting an all-time high of $54.09. Over the last 24-hours, BNB had bagged gains of over 5.77%. The altcoin had also climbed the crypto ladder with regard to its market cap. BNB was seen standing as the ninth-largest coin with a market cap of $8.34 billion.

Binance Coin [BNB] Four Hour Price Chart On Binance

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Binance Coin [BNB] Hits New All-Time High As It Continues To Be Overbought 15

The four-hour price chart of BNB was sending mixed signals. The Parabolic SAR indicator revealed that the bulls were reigning the market. The indicator put forward dotted lines below the candlesticks which further acted as a barricade for the altcoin plummeting. The MACD indicator was seen finding it hard to make up its mind. The MACD line was seen slightly above the signal line which was a bullish crossover. The Klinger Oscillator had however formed a bearish crossover.

Binance Coin Four Hour Chart Reveals Buyers’ Sentiment

Binance Coin
Binance Coin [BNB] Hits New All-Time High As It Continues To Be Overbought 16

The Relative Strength Index [RSI] indicator used in the BNB chart revealed that the altcoin was being overbought. The RSI marker was all the way above 70 median. The prolongation of this trend could help the coin hit $60 anytime soon.

Bitcoin Bags Elon Musk As Its Latest Supporter; Better Late Than Never

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The crypto-verse, especially Bitcoin [BTC] was on a major roller coaster ride. The crypto market proved to be immensely volatile. This, however, did not stop the endorsements or investments. Several mainstream companies poured into the industry. The immaculate price change of BTC even got SpaceX’s CEO, Elon Musk more invested in the industry.

Bitcoin Eyes Broad Acceptance

Elon Musk has time and again asserted his support for the crypto industry. Previously, Musk had revealed that Dogecoin [DOGE] was his favorite cryptocurrency. Things seemed to have changed as Musk recently went on to change his Twitter bio to “#bitcoin”. This wasn’t all, Forbes recently reported that the king coin wasn’t very far off from being widely accepted.

In an interview on the Clubhouse application, Musk revealed his stance on BTC as well as other cryptocurrencies. He stated,

“I do at this point think bitcoin is a good thing. […] “I am a supporter of bitcoin. I am late to the party but a supporter. I think BTC is on the verge of getting broad acceptance by conventional finance people.”

Furthermore, Musk stressed the fact that he did not have a strong opinion on other cryptocurrencies.

Previously, Musk has been the reason behind the pump of coins like DOGE. Therefore, he added, “I have to be careful what I say, it can affect the market”. However, the latest addition of BTC to his Twitter price had urged the price of BTC to move past $35K. While this didn’t persist, Bitcoin was back at $34,898 during the time of writing. As almost all the other assets were on a surge, BTC was bagging dainty gains. Despite this, BTC was on top with a market cap of $646.4 billion.

Elon Musk’s latest remarks sparked up an array of tweets. From Tyler Winklevoss to Sawyer Merritt, an array of people acknowledged Musk’s latest comment on Bitcoin. One such tweet read,

Binance Coin [BNB] Retraces To $50 As Bears Make A Brief Stop In Its Market

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The crypto market was back in business with its market cap hitting $1 trillion again. Binance Coin [BNB], Cardano [ADA] as well as Ethereum [ETH] were seen on the top in terms of price change. Ethereum was seen trying to push past its all-time high once again, while ADA seemed to be aiming for $1 with its 17% surge in the last 24-hours. XRP and Dogecoin [DOGE] were seen stepping down from the top as both these assets were enduring major losses, especially in the last 24-hours. Bitcoin [BTC] was seen on the sidelines with a dainty price change of 1%. The price of the king coin, at press time, was noted at $34,207.47.

Binance Coin [BNB], during press time, was priced at $50.75 with an 11.39% surge over the past 24-hours. Earlier today, BNB hit an all-time high of $52.14. The altcoin was seen finding its way back into the top ten. BNB was standing as the tenth-largest coin with a market cap of $7.7 billion.

Binance Coin [BNB] One-Hour Price Chart

Binance Coin
Binance Coin [BNB] Retraces To $50 As Bears Make A Brief Stop In Its Market 19

BNB was on a roll. The asset hit its all-time high and was seen retracing. In the one-hour price chart of BNB, the bears were seen stopping for a bit. The Parabolic SAR indicator formed dotted lines above the candlesticks and restricted any short term surges in the upward direction. The Awesome Oscillator also exhibited a similar notion as it laid out strong red closing bars. The MACD line had undergone a bearish crossover.

All the indicators used in the coin’s short term chart suggested that BNB was bound to fall.

Binance Coin [BNB] Short Term Price Chart

Binance Coin
Binance Coin [BNB] Retraces To $50 As Bears Make A Brief Stop In Its Market 20

The volume on BNB’s one hour price chart had subsided over time. The asset was seen depleting from the overbought zone. Despite this fall, a buyers’ sentiment was intact in the BNB market, the Relative Strength Index indicator suggested,

Ethereum [ETH] To Take It Slow After Its Recent ATH

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All the assets including Ethereum, Bitcoin and an array of cryptocurrencies were seen slumping, surprisingly, XRP was the only asset riding the bull. XRP had finally pushed past a major line of resistance and was noted at $0.31 with a 11.69% rise in the last 24-hours. Bitcoin, however, took a hit today and dropped by over 8% in the last 24-hours. The king coin was priced at $33K during the time of writing. Dogecoin [DOGE] had soared and even broke the internet. However, the asset was getting of its throne as it endured a daily dip of 19%.

During press time, Ethereum [ETH] was trading for $1,338.73 with a 2.20% drop in the last 24-hours. ETH did not give up on its position as the second largest coin. Its market cap was at $153.7 billion. Despite its downfall, ETH managed to secure gains of over 8% throughout the week.

Ethereum [ETH] One-Hour Price Chart

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Ethereum [ETH] To Take It Slow After Its Recent ATH 23

The bulls were still in the ETH market. The daily moving average indicator formed a bullish crossover and the asset seemed to have prolonged this crossover. The 50 daily moving average [Blue] was seen above the 100 daily moving average [Red]. This revealed that the bulls were still reigning the market.

However, the other indicators revealed a different notion.

Ethereum [ETH] Price Chart With Key Indicators

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Ethereum [ETH] To Take It Slow After Its Recent ATH 24

While the daily moving average indicator was revealing a bullish sentiment, indicators like Chaikin Money Flow was suggesting another story. The Bollinger Bands indicator was quite close to each other which suggested that ETH wouldn’t experience major fluctuations. The Relative Strength Index indicator revealed that there was no significant activity in the ETH market. However, the emotion was towards the sellers’ sentiment. The Chaikin Money Flow was clear about its notion. The CMF marker was down below zero which suggested that bears were dancing in the ETH market.

If this trend persists, ETH could have a tough time surpassing its recent all-time high.

Monero [XMR] Tries To Fend Off Bears As Bulls Try To Enter Its Market Despite Bittrex Delisting

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Bitcoin finally broke $30K. Several assets followed the trail of this unstoppable coin. However, it was a bad day for Monero [XMR] and other privacy coins. While XRP continued its journey downhill, Monero [XMR], Zcash [ZEC], and Dash [DASH] accompanied the asset. Prominent cryptocurrency exchange, Bittrex waved goodbye to the aforementioned assets which led to the plummet of these assets. Dash was dipping by over 12% while Zcash was nosediving by 10%. Dogecoin [DOGE] was seen catching up with Bitcoin as the asset was rising up by over 43%.

At the time of writing, privacy coin Monero [XMR] was trading for $138.75 with a 15.55% drop over the last 24-hours. Back in the day, XMR was one of the top ten coins, however, several coins prevailed and XMR was left trying to most past the tenth place. The market cap of XMR was at $2.6 billion which helped the asset retain a place as the sixteenth largest coin. 

Monero [XMR] One Hour Price Chart

Monero

The one-hour chart of XMR revealed that the altcoin was still dwelling in the bearish region. The volume during the recent downward breakout was seen notably high. The 50 daily moving average [blue] was above the 100 daily moving average [red] was is a bullish crossover. However, the 50 daily moving average was above the candlesticks which are considered a bearish sign.

Monero [XMR] Price Chart With Indicators

Monero

Certain indicators restored hope in the XMR market as the Bittrex announcement had caused great damage to the privacy coin. The Parabolic SAR indicator welcomed the bulls after laying out dotted lines below the candlesticks. These lines are bound to act as a barrier to any possible downward breakout. The Chaikin Money Flow indicator was seen swimming towards zero away from the bearish realm. The Awesome Oscillator yelled bulls by forming strong green closing bars. XMR could possibly reverse its downtrend and bag gains in the ongoing bull run.

XRP, Bitcoin Cash, Cardano Technical Analysis On 12th October 2020

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The global cryptocurrency market cap was found to be at $360.4 billion after a minor surge of 0.36% over the past day. As several have outperformed throughout the weekend and have continued to climb higher. Bitcoin’s, dominance, on the other hand, took yet another slump and currently stood at 58.43%.

XRP:

XRP 2 e1602487249932

XRP broke the resistance level and was currently priced at $0.254 despite a minor decline of 0.07% over the last day. At the time of writing, XRP registered a market cap of $11.5 billion and a 24-hour trading volume of $1.84 billion.

XRP’s attempt to reclaim the previous glory was evidenced by the rising bullish momentum in the coin’s price. The dotted markers of Parabolic SAR below the price candles depicted the much-awaited bullish uprising. RSI also headed above the 50-median neutral zone depicting a sentiment of increasing buying pressure among the traders of the coin market.

If this trend persists, XRP could potentially target its overhead resistance of resistance $0.292 while its support remained untested at $0.220

Bitcoin Cash [BCH]:

BCH 1 e1602487453542

Bitcoin Cash [BCH] too broke a crucial resistance after a month-long stint with the bears despite a minor pullback which caused a decline of 0.14% over the past 24-hours driving its price to $239.1. The coin held a market cap of $4.43 billion and a 24-hour trading volume of $1.819 billion, at the time of writing.

The green closing lines of Awesome Oscillator depicted a bullish momentum in the coin’s price which coincided with the latest surge in the market. Chaikin Money Flow was also in the bullish territory indicating inflow of money into the coin market.

If bulls manage to defend the current level, BCH could climb to its immediate resistance of $289. Besides, the coin found significant support at $207.

Cardano [ADA]:

ADA 2 e1602487617593

Cardano [ADA] was being traded at $0.105 after a minor slump of 0.98% over the past day. At the time of writing, the coin stood at a market cap of $3.27 billion and a trading volume of $763 million over the last 24-hours.

Following the latest price rally, ADA soared to its overhead resistance subsequent;y breaching the level. This prompted Klinger Oscillator as well as MACD to undergo a bullish crossover as the signal line continued to hover below. Bulls have resumed an uptrend if it manages to retain an upper hand, it could push the price of ADA to its next level of resistance at $0.125 as its support stood at $0.0904

Bitcoin, Tron, DASH Technical Analysis on 18th September 2020

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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

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

tron technical analysis

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

dash technical analysis

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.