158 Interactions, 2 Today
Tron, Algorand, and VeChain have all consolidated in the last 24 hours. Although the coins showed signs of recovery, this had yet to be reflected on their respective charts. Tron rose and was aiming for its next price resistance level. VeChain rose by 1.3 percent, while Algorand fell slightly.
Tron has been consolidating in recent trading sessions. It has increased by 1.3 percent in the last 24 hours. The altcoin was trading at $0.0906, and it may return to the $0.0958 resistance level. Tron could retry to trade near $0.1062 if the uptrend continues.
However, key technical indicators pointed to a bearish trend. The Relative Strength Index remained below the half-line, indicating that buying pressure remained low. After a bearish crossover, MACD displayed red bars on its histogram.
Bollinger Bands remained parallel, implying that price volatility will likely remain low in the coming trading sessions. In case of buying pressure remaining in the bearish zone for long, the altcoin could trade near its support line of $0.0888 and then to $0.0816.
Algorand was priced at $1.75 and fell by 0.5 percent while indicating consolidation. The nearest support level was $1.51. The technical indicators pointed to a downward price movement.
The Relative Strength Index was below the half-line, indicating that selling pressure was increasing. On its histogram, MACD displayed ref] bars. Red signal bars were depicted by Awesome Oscillator.
On the other hand, if buying pressure returned, the coin’s resistance level would be $1.90. Above that level, ALGO can trade near its one-week high of $2.20.
VeChain was trading sideways and was priced at $0.091. It has risen by 1.3 percent in the last 24 hours. The resistance level for VET was $0.099, followed by $0.109.
If it rises above $0.109, it may trade above the $0.124 level, which is the coin’s one-week high.
The Relative Strength Index was below the midpoint, indicating that there was less buying pressure. MACD’s histogram displayed red bars.
Chaikin Money Flow was lower than the midpoint, indicating that capital inflows were negative.
The support level for VET was $0.085.