Ethereum [ETH] and Tron [TRX] struggle to get out of the coin market’s bear hug

Ethereum, the largest altcoin, stood firm in the face of a turbulent coin market, whereas Tron [TRX] moved a notch up from its 12th position to the 11th position, on cryptocurrency charts.

1 Day ETH chart

Source: TradingView

Ethereum [ETH] recorded a 24 hour trading volume of over $9 billion, with its market cap around $26 billion, at press time.

An uptrend from $150.16 to $266.57 and a downtrend from $204.15 to $159.72 was noted. Resistance stood at $272.19, with support at $82.08.

Parabolic SAR depicted a bearish market as the dotted markers were seen above the candles.

MACD suggested a bearish crossover on the cryptocurrency charts.

Relative Strength Index projected equilibrium in buying, selling pressures in the market.

1 Day TRX chart

Source: TradingView

TRX registered a 24 hour trading volume of $1.31 billion, while it had a market cap of $2.3 billion.

An uptrend was noted from $0.0130 to $0.0227 on the charts. Resistance was found at $0.0384, while supports were found at $0.0222 and $0.0117.

Klinger Oscillator demonstrated a bearish market for TRX.

Awesome Oscillator indicated a small phase of bearish selling opportunity.

Chaikin Money Flow pointed towards growing money inflow into the market.

Conclusion

Both ETH and TRX remained firmly on the bears’ side.

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