Ethereum [ETH] vs Tron [TRX] Price Analysis: ETH moves sideways while TRX sees the bull

Ethereum [ETH], the second largest altcoin in the market, continued to post significant gains in the wake of Bitcoin’s rally. ETH’s 24-hour trading volume stood at $11.87 billion and the market cap was $28.59 billion, at press time. Tron on the other hand, surged to the tenth position on CoinMarketCap. TRX’s 24-hour trading volume was $1.59 billion, and its market cap was $2.29 billion, at press time.

1-Day ETH chart

Source: TradingView

Resistance 1: $538.22

Support 1: $80.33

Uptrends: $83.11 to $103.23, $103.23 to $132.84.

Bollinger Bands indicated a squeeze in the market’s volatility.

Aroon indicator signified a sideways movement in the market.

Awesome Oscillator indicated a bullish buying opportunity in the market, following a brief phase of bearish momentum.

1-Day TRX chart

Source: TradingView

Resistance 1: $0.039928

Support 1: $0.01934

Parabolic SAR markers were seen below the candlesticks, signifying a bullish market for TRX.

MACD line was seen having a bullish crossover.

Chaikin Money Flow’s indicator was seen above the zero line. This suggested that the capital flowing into the TRX market was greater than the money flowing out of it.

Conclusion

After days of bullish prosperity, ETH was seen moving sideways. However, TRX remained bullish, at press time.

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