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The honeymoon seems to be over for cryptocurrencies while the Mini Bull Run ended abruptly today. The markets were painted in red, with very few coins showing the green on the analysis charts of the daily cryptocurrency. After an upward rally, Bitcoin tested and exceeded the $ 4000 limit on which it had found support. Tron and EOS also followed the example, recording significant losses in the last 24 hours.
Tron (TRX / USD)
Tron has been down 7.45% in the last 24 hours and is currently selling at $ 0.026. The TRX / USD pair enjoyed a large stroke as can be seen from the relative Relative Strength Index (marked as A). It has shifted predominantly to the "undersecretary" area (above 70), indicating how investor sentiment was high in this currency. In addition, Bull Run's momentum has had the effect of pushing prices upwards, testing and surpassing the previously held Resistance Zones.
The EMA (C) for 7 days was in any case above the 21 days of the moving average (B), which reported a strong bull run. Today, however, the RSI has abruptly dropped from the "undersecretary" area and is currently at 40 (closer to "oversold" than to "undersecretary"). This shows a drastic decline in investor sentiments.
Unless the Bulls improve their momentum, the Bears will probably further push the price in the short term.
EOS (EOS / USD)
After going through a strong bull run, EOS is again directed downwards. After the fork in the last year, EOS took a beating and was only starting the upward trend at the start of 2019. Today, however, the tables have reversed and the bearish momentum has resumed. Eos has been down 9.50% in the last 24 hours and is currently selling at $ 2.57 compared to $ 2,839 yesterday.
In addition, the 7-day moving average (B) is going through the 21-day EMA (C), which shows the strong downtrend that hit the markets. This can also be seen in the Relative Strength Index (RSI) marked C is headed down and close to the "oversold" area, signaling the negative feelings of investors in EOS.
Bitcoin (BTC / USD)
The largest currency by market capitalization was also painted red today after the Bears swallowed the markets. This saw the BTC fall below the $ 4000 mark and currently fluctuates around $ 3820. The previous support set up on the same figure has been tested and passed.
Furthermore, there is a reduced confidence in BTC investors as the RSI (A) has crossed the oversold area. EMAs (B and C) are also heading downwards, indicating that the downward trend may be here for a long time.
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