THETA, PancakeSwap, Tron Price Movement Analysis for 4th May, 2021

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THETA was trading below all three moving averages, and bulls wanted to counter bearish momentum before breaking through $12. PancakeSwap sought support at its 50-day moving average, and a further decline could be cushioned at $34. Finally, Tron may experience some sideways movement before breaking through $0.136.


Losses in the THETA market were kept at $10.6-support, but the candlesticks on the 4-hour timeframe were below the 50-SMA, 100-SMA, and 200-SMA. In such a case, the bulls faced an uphill battle to reclaim the area above $12. The bears refused a breakout over the 200-SMA on the charts, and the market returned to a horizontal channel.

A bearish crossover in MACD added weight to an unfortunate result, and a break below the lower trendline might send THETA down to $10. A increase above $13 will, on the other hand, result in a bullish convergence between the 20-SMA and the 200-SMA, which would certainly prompt some stock buying. Meanwhile, the Stochastic RSI is trading in a reversal zone, and the bulls could be able to hold $10.6-support.

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PancakeSwap [CAKE]

Source: CAKE/USD, TradingView

Buyers flocked to PancakeSwap around the $22-mark, propelling the market all the way to a new all-time high of $44. Following a pullback, investors jumped in at $37 but were unable to drive CAKE to a newer ATH. CAKE was trading around $40 at the time of publication, and it was backed by the 50-SMA (blue) on a 4-hour timeline. The RSI exhibited choppy rotation and oscillated around the neutral region.

The Awesome Oscillator appeared to sink below the half-line, but given the recent rebound, this could be quickly reversed by the bulls. In the case of a failure below $37, there was another support field at $34, but this had yet to establish itself as a reliable defensive line.

Tron [TRX]

Source: TRX/USD, TradingView

Tron received a rejection at $0.136 but finding support at $0.123. Also after accounting for losses in the previous 24 hours, the forecast was for a bullish breakout over $0.136 in the coming days. The on-chain indicators indicated a reasonably neutral market, with some sideways activity possible prior to the northbound drive.

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The RSI was pointing north from neutral-50, while the MACD line was moving just below the Signal line. Meanwhile, keep an eye on $0.123, as a step below this level could lead to more losses towards $0.101.

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