[ad_1]
The bear market seems to have gone into overdrive with several very popular cryptocurrency prices, as if there were no tomorrow. Bitcoin [BTC], the largest cryptocurrency in the market, has a fall below the $ 5,000 barrier, its lowest price in more than a year. The fall of Bitcoin has been reflected throughout the market, with coins like Tron [TRX] crumbling on the price charts.
1 hour
The chat of an hour shows the serious portrait of the cryptocurrency that undergoes a massive movement towards the bear area. The downtrend has taken the price from $ 0.0189 to $ 0.0165. The resistance reached $ 0.0230 while TRX fell to a new support of $ 0.0147.
The Relative strength index [RSI] shows the graph that breaks under the oversold zone, indicating the increasing selling pressure compared to the miniscule purchase pressure.
The Bollinger band indicates the beginning of a massive breakout tending towards the bear area. The price drop was so significant that the candles fell from the Bollinger cloud.
1 day
The one-day Tron chart drops to one of its lowest prices over a long period. There were no trend changes with the downward trend that led to the cryptocurrency falling from $ 0.0391 to $ 0.02475. The new support, at the moment, is at $ 0.0148.
The Awesome Oscillator [AO] shows the progression of the market gradually decreasing, with a sudden increase in the bearish momentum. This is in sync with the market crash.
The Chaikin cash flow [CMF] the indicator has just reached the axis, which shows a balance between the money that enters the market and the outflow.
Conclusion
The market crash does not seem to end soon, with all the indicators pointing to a prolonged bear run. The RSI, AO, CMF and Bollinger bands have all prevailed.
Subscribe to the AMBCrypto newsletter
