Tron is expected to continue its trajectory over the next few trading sessions as it rises to levels last seen in June 2018. ATOM formed a bearish trend in the MACD and is expected to approach the $ 12.3 support level.
Tron (TRX) price analysis
Tron has gained over 17% in the past 24 hours and is trading at $ 0.044. This is the highest level in the last two and a half years. Trading volumes rose above $ 4 billion, while buying activity also increased. In-chain measurements show that the MACD line rises above the signal line, while On Balance Volume is at its highest point for more than a year and a half and supports the possibility of a long bull run.
The next challenge for the bulls of the market seems to be around the $ 0.05 resistance but considering the recent bullish momentum, a rise above this level is definitely possible. If a sale occurs at this price level, the $ 0.041 and $ 0.036 support levels may come to the fore.
Cosmos (ATOM) price analysis
Although Cosmos is currently trading at record levels, a correction may be very close based on chain metrics. Looking at the cryptocurrency’s 4-hour chart, we see that bullish momentum has weakened over the past few sessions after the bulls failed to reverse the resistance at $ 14.6.
Moreover, the bearish trend in the MACD signals a recession. The Relative Strength Index dropped below the overbought zone and also gave a little more strength to bearish prediction. In the event of a drop, the initial support level will be $ 12.3.