Key HighlightsETH price is gaining momentum and it could break the $304 resistance for more upsides against the US Dollar.There was a break above a key bearish trend line with resistance at $295 on the hourly chart of ETH/USD (data feed via Kraken).The pair might decline a few points towards $290 and $288 before climbing higher in the near term.Ethereum price is placed nicely in a bullish zone against the US Dollar, but it is struggling versus bitcoin. ETH/USD may soon break $304 to gain momentum.Ethereum Price TrendThere were mostly range moves above the $277 level in ETH price during the past few sessions against the US Dollar. The ETH/USD pair formed a decent support near $277 and later started an upside move. It traded above the 50% Fib retracement level of the last drop from the $331 high to $250 low. There were a couple of bullish candles formed above $280, but bulls failed to gain momentum.More importantly, there was a break above a key bearish trend line with resistance at $295 on the hourly chart of ETH/USD. The pair is now trading above the $290 level and the 100 hourly simple moving average. If the recent break is true and buyers gain traction, the price may well move past the $304 resistance. Above this, the next resistance is near the 76.4% Fib retracement level of the last drop from the $331 high to $250 low. Finally, the price might aim to test the last swing high at $331-332.Looking at the chart, ETH price is trading with a positive bias above $277-280. In the short term, there could be a tiny bearish reaction, but the price is likely to find support near the $282 and $277 levels.Hourly MACD – The MACD is showing positive signs in the bullish zone.Hourly RSI – The RSI is now placed well above the 50 level with a bullish angle.Major Support Level – $277Major Resistance Level – $304
Key HighlightsRipple price corrected higher recently and broke the $0.2660 and $0.2800 resistances against the US dollar.There is a new connecting bearish trend line formed with resistance at $0.3010 on the hourly chart of the XRP/USD pair (data source from Kraken).The pair is currently below the 100 hourly SMA, but it remains supported near $0.2660.Ripple price is showing a few positive signs against the US Dollar and Bitcoin. XRP/USD must stay above $0.2660 to recover further above $0.3000 in the near term.Ripple Price SupportYesterday, a decent upside move kicked off and Ripple price moved above the $0.2660 resistance against the US Dollar. The XRP/USD pair even broke the $0.2800 and $0.2850 resistance levels to set the pace for more gains. However, the $0.3000 resistance acted as a major hurdle for buyers. The price failed to settle above $0.3000 and formed a high at $0.3029. Later, it corrected lower below the 23.6% Fib retracement level of the last wave from the $0.2472 low to $0.3029 high.Moreover, there was a close below $0.2900 and the 100 hourly simple moving average. On the downside, an initial support is near the $0.2751 level. It represents the 50% Fib retracement level of the last wave from the $0.2472 low to $0.3029 high. However, the most important support is near the $0.2660 level, which is a pivot zone. As long as the price is above $0.2660, it could move higher. On the upside, an initial resistance is near $0.2880 and the 100 hourly SMA. Moreover, there is a new connecting bearish trend line formed with resistance at $0.3010 on the hourly chart of the XRP/USD pair.Looking at the chart, ripple is still supported and it may perhaps make another attempt to move past $0.2900 and $0.3000 in the near term.Looking at the technical indicators:Hourly MACD – The MACD for XRP/USD is about to move back in the bullish zone.Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is flat around the 50 level.Major Support Level – $0.2660Major Resistance Level – $0.3000
As one of the major players in the cryptocurrency industry, Tron (TRX) continues to capture the attention of the audience by either securing strategic partnerships with major players in the financial market or by making enhancements to its blockchain. Recently, Tron (TRX) launched its new mainnet accompanied by a series of developments.
In regards to the market price valuation, the virtual currency market is showing downward progress in response to Bitcoin’s dismal performance exchanging slightly over the 7,000 US dollar mark. Bitcoin’s decline has affected the whole cryptocurrency market and many virtual currencies. Tron (TRX) is one of the cryptos that has suffered the negative depreciation although the virtual token is on its way to recovery.
At present, the price of Tron (TRX) has appreciated by 4% over the past 24-hours to exchange at 0.03026 US dollars. Tron’s current market cap stands at $1.98 billion with a trading volume of around $127 million over the past 24-hours.
Tron (TRX) continues to fight for its space in the market by making advances positioning it to become a stronger currency against the US dollar. In the past few days, the market has not been recording a lot of progress regarding price appreciation, but Tron is proving to be unique.
According to information gathered from Bitfinex, the last few days have seen the price value of Tron (TRX) make significant progress. Tron (TRX) has managed to gunner a price increment of more than 8 percent against the US dollar, while other digital coins including Bitcoin have failed to show any positive progress.
Technically, TRX/USD is performing better than most pairs at the moment, exceeding its moving averages before time. However, some sources claim that it’s possible that extra advances might surface.
According to crypto charts, Tron (TRX) is showing steady rise believed by many crypto pundits that this trend might be here with us for some time. The current price trend has initiated a viral interest among many crypto enthusiasts, and Tron (TRX) fans trying to find out the real reason behind the price surge.
Initially, the value change was believed to be technical, but following other things, it now looks like the value change might have been building up. In the end, there are many reasons why Tron is performing the way it is currently.
Tron’s Starting to Reap Fruits From its Hard Works
The better part of last and this year, Tron (TRX) led by its visionary leader, Justin Sun, has certainly been busy closing deals with major industry players. The recent launch of Tron’s Virtual Machine is also attributed to be one of the reasons behind its price surge.
Tron Price Analysis
For about a week, Tron’s value has been enjoying a strong and steady position showing signs of surging over the resistance level of 0.020150 US dollars. However, the recent price decline has caused the price of TRX to test its major support level.
Nevertheless, Tron (TRX) continues to soldier on in the crypto market majestically showing positive signs ahead of it.
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