Ethereum [ETH] and Tron [TRX] Price Analysis: ETH and TRX witness steady growth

After the recent pullback of Bitcoin, the market was forced to fall drastically, Ethereum saw a steady recovery post the fall. Ethereum ranked number 2 overall and was priced at $259.12, with a market cap of $27.5 billion. The 24-hour trade volume came up to $23.62 billion out of which, BitMEX contributed 13.94% via XBT/USD. ETH saw a price surge of 9.85% in the last 24 hours, at press time.

Tron, ranked eleventh overall was priced at $0.0294, with a market cap of $1.96 billion. The 24-hour trade volume came up to $683 million, out of which, BW.com contributed 8.09% via the TRX/USDT pair. A price surge of 9.64% was seen by TRX in the last 24 hours.

1-Day – ETH

Source: TradingView

The one-day chart of ETH showed an uptrend from $150.8046 to $264.1566. The support points were seen at $84.4047, $104.1055 and $153.1049. The point of correction was seen at $264.7427.

The Chaikin Money Flow indicated that the inflow of capital into the ETH market was more that the outflow.

The MACD indicator showed a bullish crossover.

The Relative Strength Index put the coin in the overbought zone.

1-Day – TRX

Source: TradingView

The one-day chart of TRX showed an uptrend from $0.0132 to $0.0236. The support points stood at $0.0126, $0.0225 and $0.0255. The resistance was seen at $0.0307.

The Parabolic SAR indicated a bullish trend as the dotted markers were under the candles.

The Bollinger Bands indicated volatility in price as the band expanded.

The Relative Strength Index indicated a bullish trend as the graph was closer to the overbought zone.

Conclusion

The one-day charts of ETH and TRX are in a bullish market if the indicators are to be believed.

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