Tron, BitTorrent, Ethereum Classic Price Movement Analysis for 3rd May, 2021

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In the event of a break over $1.35, Tron has set a target of $0.18. BitTorrent resumed its stabilisation between $0.0077 and $0.0066, while Ethereum Classic signalling a pullback to $48 or even $42 before the next leg upwards.

Tron [TRX]

While Tron was incredibly bullish in the first couple of weeks of April, a wider market pullback hindered its upward trajectory. After reaching a local high of $0.18, the ‘Ethereum rival’ lost half of its worth and fell as low as $0.09. TRX has been in a turnaround phase since the last week of April, and the market has slowly captured crucial levels on the 4-hour timeline. The bulls’ next goal was between $0.1.35 and $0.148. Although there was some resistance in this area, the market seemed to be bullish enough for a breakout in the coming days. In a positive result, levels to watch for include $0.165 and $0.18.

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On the technological front, the MACD’s Fast-moving line surpassed the Signal line. The ADX was pointing north from 20 as a strong trend was forming.

BitTorrent [BTT]

Source: BTT/USD, TradingView

In the BitTorrent market, there was nothing to say as the price stayed stable between $0.0077 and $0.0066. Sharp movements were prohibited because the Bollinger Bands were constricted and the uncertainty was limited.

The ADX remained stuck at 16, highlighting the absence of a solid pattern. It was conceivable that BTT was accumulating prior to the next swing, and if so, traders could sell at resistance and buy at help. A significant resistance mark was located at $0.0097, and a break beyond this could result in losses all the way to the April ATH.

Ethereum Classic [ETC]

Source: ETC/USD, TradingView

Using the movement of Ethereum Classic from April 14-17 as a reference point, certain Fibonacci levels were highlighted on the 4-hour timeline. The 100 percent extension amount was at $54.7, but a glance at the on-chain indicators indicated a pullback, despite the fact that ETC had been very positive in the previous 24 hours. For the last few days, the RSI indicated that the sector was overbought, and that it was likely to stabilise in the coming days. This could occur at the 78.6 percent Fibonacci level ($48.3), establishing it as a solid support point.

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Another area of funding was found at $42-43, which also coincided with the 50-SMA (blue). Meanwhile, Chainkin Money Flow remained above the half-line, indicating that capital inflows to ETC were stable.

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