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The cryptocurrency market that has seen significant gains in the last week of 2018 has fallen victim to the pursuit of the bear and is bleeding. Tron [TRX], the only coin that has previously resisted the bear is also injured in the bear's attack. He had noticed a growth of over 20% in the past day, but this changed when the bear hit. It has beaten the eighth largest currency by over 10% in one hour. However, at the time of printing, the currency seems to be recovering.
According to CoinMarketCap, the currency was valued at $ 0.0296 with a market capitalization of $ 1.9 billion. The currency recorded a 24-hour trading volume of $ 696 million and fell 4.09% in the last hour. The currency reflects growth of 9.20% in the last 24 hours, with a 484% growth over a week.
1 hour
Source: trading view
The chart at one hour of the coin reflects a massive growth of $ 0.0209 to $ 0.0328, after which the currency fell to $ 0.0299. The currency started shooting immediately. The currency has a resistance marked at $ 0.0328, while the support seems strong at $ 0.0287.
Parabolic SAR indicates a bearish market as the markers lined up above the candles.
Awesome Oscillator too much indicates a bearish market that loses momentum.
Chaikin cash flow indicates a bearish market as the marker is below zero.
1 day
Source: trading view
According to the one-day currency chart, a downtrend from $ 0.0186 to $ 0.0119 was found, after which it started to rise from $ 0.0158 to $ 0.0287. The coin did not mark a new resistance at the time of printing, as it broke its previous resistance to $ 0.0287. The currency scored strong support for $ 0.0119.
Bollinger bands it is at a point of convergence, but we slowly see it diverge, increasing market volatility. It is noted that the moving average line is located under the candelabrum marking an upward trend.
MACD the line is above the signal line pointing towards a bullish market.
Relative strength index he is in the overbought zone.
Conclusion
According to the indicators, Parabolic SAR, Awesome Oscillator and Chaikin Money Flow the market is bearish by the bear on 10 December but is slowly recovering. The indicators The Bollinger bands and the MACD predict that an upward trend may be taking place.
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