While Bitcoin, the world’s largest cryptocurrency, has an overwhelming effect on the performance of altcoins, the effect is by no means uniform or consistent. This discrepancy has been proven by the price movements of altcoins such as Tron and Crypto.com Coin over the past 7 days.
Tron (TRX) price analysis
The cryptocurrency Tron, ranked 25th in the CoinMarketCap ranking, has witnessed fairly stable, horizontal movements for the past 3-4 months. However, February 2021 saw TRX surge in levels last seen in June 2019.
Like most altcoins, Tron dropped after Bitcoin fell in value, and TRX fell 26% in 5 days. But at the time of this writing, the crypto has recorded a green candle on the charts, a sign that recovery efforts are underway.
Tron’s indicators presented a more unstable picture, as the dotted signs of the Parabolic SAR were well above the price candles and the Chaikin Money Flow remained stable at 0.10, a sign of strong capital inflows.
Crypto.com Coin (CRO) price analysis
Crypto.com Coin (CRO), the local token of Crypto.com Chain, has seen its value fluctuate significantly in the past 7 days. While the CRO experienced a significant 165% increase over a 4-day period, corrections came quickly as the value of Bitcoin, the world’s largest cryptocurrency, dropped below the $ 50,000 mark on the charts.
At the time of writing, CRO is trading at levels last seen in September 2020.
The scale of the increase mentioned above was so great that CRO’s indicators continued to burn bullish signals. As the MACD line hovers above the Signal line, the Relative Strength Index is sweeping the overbought zone on the charts.