Crypto.com Coin,  Synthetix, Tron Price Movement Analysis for 25th February 2021

Spread the love

Although Bitcoin, the world’s largest cryptocurrency, has an enormous impact on the output of the industry, that influence is not universal or consistent in any way. This has been illustrated by the price fluctuations of alts such as Tron, Synthetix, and Crypto.com Coin over the last 7 days.

Tron [TRX]

For much of the last 3-4 months, Tron [TRX], the cryptocurrency rated 25th in CoinMarketCap’s rankings, has witnessed fairly steady, though sideways movements. However, in February 2021, TRX was on the markets, with altcoin trading at levels last seen in June 2019.

Like other alts, Tron has tended to the south at the back of Bitcoin’s depreciation, with TRX dropping by 26% in 5 days. At the time of writing, however, the crypt had registered a green candle on the charts, an indication that recovery efforts were underway.

 

The Tron indicators presented a more ambivalent picture, as the Parabolic SAR dotted markers were well above the price candles, and the Chaikin Money Flow remained steady at 0.10, a sign of strong capital inflows.

Tron was in the news recently after it had pipped Ethereum to record higher total USDT consumption.

 

Synthetix [SNX]

Source: SNX/USD on TradingView

Synthetix, the sixth-largest DeFi market cap token, has enjoyed price swings quite unlike any other over the past 10 days or so. Although SNX recorded an ATH on the 14th map, the token has been on the downtrend since then. In reality, Bitcoin’s $58,000 breach was also unable to drive the token up the charts.

RECOMMENDED READ:  How Bitcoin shaping the success of Coinbase IPO

It is worth noting, however, that over the past 48 hours or so, the market bulls have regained some traction, with SNX flashing green on the charts as well. In the 7-day cycle before that, it was observed that SNX had dropped by almost 30%.

The mouth of the Bollinger Bands seemed to remain steady after the recovery began, with the same suggestion that some near-term volatility could be predicted. The Amazing Oscillator was eventually displaying a decline in the bearish momentum.

Synthetix has recently raised $12 million in funding from Coinbase Ventures and Paradigm.

 

Crypto.com Coin [CRO]

Source: CRO/USD on TradingView

Crypto.com Coin [CRO], the native token of the Crypto.com Chain, has seen its value oscillate significantly over the last 7 days. Though CRO has risen by a stunning 165 percent over the course of four days, corrections have come quickly as the value of Bitcoin, the world’s largest cryptocurrency, has fallen below the $50,000 mark on the charts.

At the time of writing, CRO was trading at the level last seen in September 2020.

RECOMMENDED READ:  XRP Selloff Intensifies as Industry Leaders Lament Ripple Demise

The size of the above-mentioned hike was such, however, that CRO’s indicators continued to flash buzzing signals. While the MACD line was floating over the Signal line, the Relative Strength Index skirted the overcrowded region of the charts.

 

 277 Interactions,  4 today

READ ALSO:
Elrond, Tron, Waves Price Movement Analysis for 17th April, 2021

The crypto market has seen a lot of uncertainty in the last week, with Bitcoin, the world's biggest cryptocurrency, reaching Read more

Tron Price Movement Analysis for 16th April, 2021

After a quick rally this week, the Tron price has withdrawn. TRX is currently priced at $0.1538, which is marginally Read more

Enjin, Huobi Token, Tron Price Movement Analysis for 16th April, 2021

Enjin was set to fall below $3 once more. Huobi Token also attempted to break out of a short-term downtrend Read more

IOST, Neo, Tron Price Movement Analysis for 14th April, 2021

With Bitcoin trading over $64,000 and Ethereum trading over $2,300, the larger altcoin market has rallied alongside the top leaders, Read more

Binance Coin, Decred, Tron Price Movement Analysis for 11th April, 2021

Binance Coin ate up all of the technological goals that were recently given to it, reaching a peak of $487 Read more

Algorand, Hedera Hashgraph,Tron Price Movement Analysis for 10th April, 2021

Tron's breakout from an ascending triangle was stymied by the $0.12 resistance level. Algorand's bearish technicals were expected to exceed Read more

Tron, BAT, VeChain Price Movement Analysis for 8th April, 2021

Bitcoin was trading near the $57k mark, but a decline down to $55k was not ruled out. As a result, Read more

Aave, Compound, Ontology, Tron Price Movement Analysis for 6th April, 2021 April

Aave was expected to stay below its $422.7 resistance level. Compound was found to need more momentum before smashing through Read more

Tron Price Movement Analysis for 4th April, 2021

In the cryptocurrency industry, excessive uncertainty has had a long-term effect on the price of the digital commodity. This uncertainty Read more

Algorand, Nano, Tron Price Movement Analysis for 2nd April, 2021

In the short term, Algorand expected neutral traction, while Nano bulls aimed to turn the $5 stage from opposition to Read more

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

Tron and Compound have registered substantial losses in recent days, with TRON gaining nearly 40% in 48 hours. Synthetix was Read more

Leave a Reply

Contact Us