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The bear market has consistently held most cryptocurrencies in the last days, which bleed red through the spectrum. Many cryptocurrencies like Bitcoin [BTC], Ethereum [ETH] and Tron [TRX], Justin Sun brought the cryptocurrency that everyone saw their price supports collapse under the pressure of the bear.
1 hour:
The Tron chart of an hour saw a sharp downtrend that brought cryptocurrency prices from $ 0.0189 to $ 0.0139. Immediate resistance reached $ 0.0222 while support is at $ 0.0133.
The Bollinger band it began to show a parallel movement between the bands, a sign of a lack of trend change. The movement comes on the heels of a bearish break indicated by the Bollinger cloud.
The Awesome Oscillator [AO] shows that the market momentum has slowed relatively significantly after a sudden surge in dynamics.
1 day:
The one-day Tron graph indicates the value of emptying the cryptocurrency over time. The decline in recent months has taken the price from $ 0.0391 to $ 0.0248. The recent bearish trend saw Tron fall to $ 0.0138. Tron's support has been maintained at $ 0.0138, recently formed.
The Relative strength index [RSI] shows that the chart has crashed below the oversold zone. This is an indication of the increase in sales pressure compared to the purchase pressure in the cryptocurrency market.
The Chaikin cash flow [CMF] the indicator was about to crash below the zero line, but for now, it's precariously balanced in the middle. This shows that the money entering the market and those leaving the market are in balance.
Conclusion:
Multiple analysis shows that the cryptocurrency market will continue to be a prisoner in the bear cell. The Bollinger, AO, CMF and RSI bands all point to this fact because the bull seems to be completely missing from the picture.
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