Tron faced the danger of falling below the 50-SMA as indicators signaled red on price charts. Further down the crypto ladder, VET moves in a horizontal channel, but a breakout doesn’t seem very close in the short term.
Tron (TRX) price analysis
Bollinger Bands on Tron’s charts show that the period of high volatility has continued since the cryptocurrency passed $ 0.035. Despite the recent strengthening in prices, TRX bulls may be in danger of losing to the 50-SMA (blue), which could lead to further sales. The Awesome Oscillator went below zero as it slid in the direction of the fall.
A fall below the 50-SMA could lead to a short and medium term downtrend. The increase in trading volumes and purchasing activity can cause TRX to rise above the $ 0.05 resistance.
Vechain (VET) price analysis
The formation of a horizontal channel on VeChain’s 4-hour chart showed almost equal buying and selling pressure as the price reached ATH at $ 0.06. However, the indicators pointed out some declines at the time of this writing. The stochastic RSI marks the oversold zone, while the MACD line has continued to move below the signal line.
Despite the flashing red signals, the bulls have a chance to hold onto the lower trend line given the bullish rally in the last 30 days. If the price breaks the lower trend line, a strong selling period could result in VET moving towards the support level at $ 0.037.