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The bear attack was quite evident on the cryptocurrency market with several coins that lost value. Bitcoin [BTC], Ethereum [ETH] and Tron [TRX] all have broken their price supports leaving many fans and owners in a state of despair.
1 hour:
The Tron chart of an hour shows an acute downtrend, lowering the price from $ 0.022 to $ 0.0149. Cryptocurrency support reached $ 0.0132 while immediate resistance was maintained at $ 0.0227.
The Chaikin cash flow [CMF] indicator held below the axis line which is a bearish mark. The constant movement under the axis shows that the flow of money is higher than the inflow.
The Relative strength index [RSI] is currently maintained between the chart, a sign of the balance between the purchase pressure and the selling pressure.
1 day:
The one-day chart does not depict an image for Tron because the downward trend is also persistent. One day support is at $ 0.0139, which was recently formed.
The Bollinger band shows a rapid divergence with the upper band and the lower band moving away from each other. The size of the Bollinger cloud also indicates that the bear epidemic will be larger than the cloud formed during the lateral price movement.
The Awesome Oscillator shows the downward momentum of the market after the absence of any movement.
Conclusion:
The Justin Sun brought cryptocurrency does not seem able to escape the bear's grip anytime soon. The CMF, the RSI, the Bollinger and AO bands all take the part of the bear without any bullish truce to be seen.
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