Bitcoin, currently the world’s largest cryptocurrency, is still struggling to recover its position on the price charts after falling below $ 60,000. The altcoins of the crypto market are diverging. Welcome to our analysis of Tron and Neo.
Tron (TRX) price analysis
Once one of the top 10 pillars of the crypto market, TRX ranked 18th on CoinMarketCap’s charts at the time of this writing. While the altcoin has been in an upward trend for the past few months, just like the rest of the market, the price action has not been as steep as the alts movements like VeChain, Chainlink, and UNI. April is going well for TRX, which has seen an increase of over 45% in a week.
At the moment, however, TRX has not yet recovered from the corrections that appeared later, especially with the trading volumes giving bad signals, the landscape has gotten worse.
The dotted signs of the Parabolic SAR highlighted the market’s downward trend by placing it above price candles, while the Relative Strength Index kept it solid between oversold and overbought zones.
Neo (NEO) price analysis
Crypto Neo, ranked 21st on CoinMarketCap’s charts, is one of many altcoins behind the altcoin market’s rise in April. NEO rose almost 100% in less than 10 days and likewise touched $ 120. While corrections were made in the past few days, the crypto was still trading at a level not seen in months.
However, the valuation of the altcoin is still 50% below its $ 198.38 ATH.
The widening mouth of the Bollinger Bands showed that some price volatility is inevitable in the short term. The MACD line climbed well above the Signal line, highlighting the rise in the market despite its recent depreciation.