Polkadot is expected to continue its movement between $19.6 and $25 in the coming days. Tron, on the other hand, is in danger of breaking towards $0.056 as volatility increases.
Polkadot (DOT) price analysis
Polkadot’s previous targets were fulfilled when its price broke below its ascending channel. Calculated from the lower trendline of a down channel to support at $19.6, losses have accumulated up to 17%. When Bitcoin reclaimed $38,000 and buyers returned to the altcoin market, DOT saw an increase of over 20%, but its price was capped by the $25 resistance. Although there has been some bearish price action in the last few sessions, the bulls seem to be losing momentum to cushion the losses.
According to the histogram of the MACD, the bullish momentum is also bearish as the index closes in a downtrend. The RSI has hit its second low and may move into the bearish zone. The DOT is stuck between strong resistance at $25 and strong support near $19.6 and the price will likely oscillate between this channel in the short term.
Tron (TRX) price analysis
Tron’s price has not seen any significant movement in the past three weeks and has kept its channel between $0.0841 and $0.068 intact. Bollinger Bands narrowed during this time frame, underlining the low volatility in the market. RSI’s downward trajectory offered several warning signs for the ‘Ethereum Killer’.
With a gradual decline towards the oversold zone, we could see TRX returning to the demand zone at $0.056, especially if the volatility also increases. A breakout to the contrary will push TRX higher, but further upside moves could be rejected by the 200-SMA (green) and $0.093 resistance.