Ethereum, MATIC, Tron Price Movement Analysis for 6th September, 2021

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After a brief pause, Ethereum’s ascent resumed, and it is now trading around its overhead price ceiling of $4033.45. Tron has gained 2.2 percent in the previous 24 hours and is closing in on a multi-month high. MATIC fell 2.7 percent, although its characteristics indicated a bullish trend.

Ethereum (ETH)

Ethereum noted an uptick of 1.7%, over the last 24 hours. The altcoin was priced at $3930.65 and has been oscillating between $4033.45 and $3855.11 price levels, over the last three days. Technicals for the coin indicated mixed trading signs.

MACD’s histogram displayed red bars. Awesome Oscillator also suggested that bearish price movement had not yet peaked. In the event of a decline, the immediate support level was $3855.11, with additional levels at $3387.05 and $2946.43. The latter price level marked ETH’s four-week low.

On the plus side, ETH maintained above the 4-hour 20-SMA line, implying that the market was in favour of buyers. In parallel, the Relative Strength Index was over the 60-point line. With a bullish surge, ETH might trade near its all-time high of $4033.45.

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Polygon (MATIC)

Ethereum, MATIC and Tron Price Analysis: 06 September

MATIC/USD, TradingView

MATIC fell 2.7 percent after reaching a multi-month high in the previous 24 hours. It was now trading at $1.70. The coin’s nearest support level was $1.53. The other two support lines were waiting at $1.38 and $1.28, respectively.

MACD histograms continued to flash green, however they were receding during the previous trading sessions. The Relative Strength Index, on the other hand, has remained positive above the 60-point level.

Chaikin Money Flow surged, moving north of its midline, following an uptick indicating greater capital inflows. If MATIC experiences an upsurge, the overhead resistance is $1.76.

In a latest development, Polygon completed its integration with Dharma, an Ethereum-based wallet that helps connect bank accounts to DeFi platforms. This announcement could interest investors as users could now buy DeFi tokens without having to worry about network fees.

Tron (TRX)

Ethereum, MATIC and Tron Price Analysis: 06 September

TRX/USD, TradingView

Tron has gained 2.2 percent in the last 24 hours and is now trading at $0.104. It was seen trading near its four-month high price level, and if the rising trend continues, it might retest $0.107.

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The Relative Vigor Index was above 60, indicating that there was purchasing strength in the market. The Bollinger Bands were constricted, indicating exceptionally little price volatility.

MACD, on the other hand, displayed red bars on its histogram. If the bears seize control, prices might fall to $0.095. If TRX fails to trade above the same, it will trade near its weekly low of $0.088.

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