Aave, DigiByte, Tron Price Movement Analysis for 16th March, 2021

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Aave climbed north from the 23.6 percent Fibonacci mark, while DGB was sandwiched between its 200-SMA and 50-SMA. Tron was trading rangebound between $0.053 and $0.08, with low uncertainty discouraging large price fluctuations in the future.

Aave [AAVE]

Source: AAVE/USD, TradingView

Aave dropped below the 38.2 percent Fibonacci retracement level on the 4-hour timeline due to a pullback in the wider market, as sellers dominated the price. However, the 23.6 percent mark has traditionally served as a base for investors, as demonstrated by the market shifting north from its immediate support at the time of publishing.

The Awesome Oscillator showed bullish momentum, but the OBV showed a small drop in purchasing activity. With the mixed messages from market leaders Bitcoin and Ethereum, it remains to be seen if AAVE will reclaim its overhead resistance in the coming sessions.

 

DigiByte [DGB]

Source: DGB/USD, TradingView

At the time of publication, DigiByte was traded in the pink, up more than 9% in the previous 24 hours. The market oscillation in the channel between $0.064 and $0.059 was solid, but it was an important level to reclaim for a bullish rebound towards a local high of $0.086. However, the bulls would face an uphill struggle in the short term, as the 200-SMA had jumped beyond the 50-SMA, and would need to overturn a bearish sector.

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Gains are generally difficult to come by in this case, and the candlesticks typically trade below their long-term moving average. Green bars on the Awesome Oscillator and a possible bullish crossover in the MACD, on the other hand, were a jump in the right direction for the buying side.

 

Tron [TRX]

Source: TRX/USD, TradingView

Tron‘s ADX Indicator was pointed lower from the 20-mark, indicating a slow trend as the market traded between $0.053 and $0.048. The Bollinger Bands remained constrained as equity uncertainty remained minimal. The press time channel kept buyers and sellers in balance, but the market could tip heavily in favour of the side that forces a breakout.

A breakout to the north would offer a target of $0.056, while a collapse would see TRX shift closer to the $0.045-support. A rise in 24-hour trading volumes was a positive indicator that could drive a bullish result in the short term.

 

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