Ethereum [ETH] and Tron [TRX] Price Analysis: Coins ride the bull as prices surge


On April 7, Tron [TRX] and Ethereum [ETH] soared even as the collective market was undergoing correction following the rally last week. Tron noted a massive rise of 8% in an hour and Ethereum too was climbing up the price ladder. Tron did not see a massive hike over the past week, but it has now rallied following the announcement of the USDT-Tron launch date, which is scheduled for April 9, Tuesday. Ethereum [ETH] has also been observing a gradual rise.

Ethereum [ETH]

At press time, ETH was valued at $168.79 with a market cap of $17.81 billion. It noted a 24-hour trading volume of $7.66 billion as it rose by 3.07% within the past hour. Over the past seven days, the second largest coin reported a surge of 19.45% and continued to grow by 0.38%.

Source: Trading view

Source: Trading View

According to the long-term chart of ETH, a downtrend was seen from $218.66 to $142.83, followed by an uptrend from $82.92 to $140.91. Due to the ongoing uptrend, ETH couldn’t mark an immediate resistance, however, a strong support was noted at $103.22.

Bollinger Bands appeared to be diverging, increasing the volatility of the market. The moving average line was under the candlesticks, marking a bullish trend for ETH.

Awesome Oscillator also indicated a strong bullish momentum.

Chaikin Money Flow pointed towards a bullish rule as the marker stayed above the zero-mark.

Tron [TRX]

Source: Trading view

Source: Trading View

According to the long-term chart of TRX, a downtrend was observed from $0.0208 to $0.0119 and an uptrend was traced from $0.0132 to $0.0226. TRX marked a support at $$0.0225, but no immediate resistance was noted on the chart.

Parabolic SAR marked a bearish trend as the markers aligned over the candlesticks.

MACD line was over the signal line, indicating a bullish market.

Relative Strength Index indicated that the token was in the overbought zone.

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