Tron (TRX) price, like many other coins and altcoins, is seeking refuge in the lower levels following the recent surge. TRX/USD is down over 7% in the last 24 hours as we close the week’s trading. Tron caught the attention of the investors and crypto enthusiasts towards the end of April, first with its spiking price and second, due to the upcoming mainnet release coupled with the much-anticipated migration from Ethereum blockchain to Tron own blockchain.
Tron (TRX) price is currently testing the key support area at $0.050, although it is exchanging hands at $0.081. The price rejected the key support zone highlighted by the 61.8% Fib retracement level with the previous swing high of $0.10 and a low $0.078. Moreover, the price broke below other key areas at $0.084 and $0.082 respectively.
On the upside, TRX/USD will encounter resistance at $ 0.082, besides, above this, the next targets are at $0.084 and $0.085. The MACD is in the negative levels signalling that the bearish momentum will dominate as we move into the weekend. Moreover, the moving averages on the 15’ timeframe chart show that the bears have the influence in the near-term. On the downside, as mentioned, TRX/USD will be supported by $0.080, but below this $0.075 and $0.070 will provide stronger support.
Ethereum (ETH) Price Analysis
Ethereum (ETH) price briefly traded above $800 level on Friday before encountering selling pressure. ETH is up more than 6% in the last 24 hours after the upside breakout that broke above some key resistance areas at $780 and $800 respectively. The market is ignoring the ongoing probe into Ethereum to ascertain if it is a security token. The US regulators are yet to take a stand when it comes to the matter. In the meantime, Ethereum price is having a field day exploring new highs in the month of May.
Technically, Ethereum (ETH) price rejected the short-term support at $800 and is currently trading dancing with $796. Another short-term support has been formed at $790, however, below this level $780 will hold the price.
On the upside, ETH/USD will encounter resistance at $800. Further up, the bulls are targeting $805 and $820 respectively. Indicators point towards a short-term bear momentum, although higher consolidation is expected. The MACD is still in the positive, however, it is pointing downwards.
IOTA (MIOTA) Price Analysis
IOTA (MIOTA) price spiked during the trading on Thursday 3 in the wake of the announcing that IOTA was now part of MOBI Alliance. MIOTA/USD tested $2.7 but lacked enough momentum to break above the resistance. Consequently, lower corrections ensued as IOTA price rejected the short-term support at $2.5.
The cryptocurrency is down over 7% in the last 24 hour, although IOTA (MIOTA) price could consolidate above $2.2 as the weekend trading sessions approach. MIOTA/USD is trading at $2.35, moreover, the moving averages on the 15’ intraday chart are pointing towards a near-term bullish breakout. Besides, the MACD is starting to point upwards signalling more buying entries.
At the moment, both the sellers and the buyers are battling to control the price. On the upside, MIOTA/USD will face resistance at $2.4, but the bulls are targeting $2.5 (100 SMA). On the downside, $2.3 is supporting the price, but below this other support, areas are at $2.2, $2.0 and $1.9 (but this is an overstretch for IOTA price).