Compound, Synthetix, Tron Price Movement Analysis for 1st April, 2021

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Tron and Compound have registered substantial losses in recent days, with TRON gaining nearly 40% in 48 hours. Synthetix was selling below a supply zone, but demand was steadily emerging and could push its prices higher.

Compound [COMP]

COMP developed a descending triangle pattern in orange during the month of March. The defending of the $340 area, as well as the recent breakout past the declining trendline, suggested that COMP could hit the triangle’s peak of $525 in the coming days.

The Chaikin Money Flow has been above +0.05 for a few days now, and the ADX (yellow) on the Directional Movement Index has risen above 20 in the last few hours. This suggested that a clear uptrend was underway.

If COMP flips $451 to help, the next stages of resistance are $471 and $526.

Synthetix [SNX]

Tron, Synthetix, Compound Price Analysis: 01 April

Source: SNX/USDT on TradingView

Synthetix was not particularly confident in the stocks, as it was entering a supply zone despite jumping off $16 after a month-long downtrend. In the last few days, there has been more buying than sale, according to the OBV.

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The MACD has risen above zero, signalling that bullish momentum is building. SNX, on the other hand, would need to smash into the $18.5-region of supply to demand before seeking to break through to the $20-region. A retest of this region due to demand would be a reasonable time to buy.

Tron [TRX]

Tron, Synthetix, Compound Price Analysis: 01 April

Source: TRX/USDT on TradingView

TRX showed a bullish difference between price and sentiment on the 4-hour chart a week ago. This was followed by a jump to $0.66, which had previously been a degree of resistance in March. For a few days, the price stayed below this amount, but an influx of heavy demand sent TRX soaring towards $0.097.

TRX was in a pullback at the time of publishing, and the Fibonacci levels of retracement at $0.082 and $0.077 can be expected to act as supports. Also after the $0.082 pullback, the RSI stayed above 70, suggesting that a deeper retracement was likely. A retest of $0.071 will be a perfect place to start a new long spot.

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