Most coins were trading in the red at press time, with the bears still in control of the cryptocurrency market. While Bitcoin had fallen by 6.5 percent in the previous 24 hours, most altcoins in the top ten had experienced drops of 5-7 percent.
TRON (TRX)
TRON was down 6.3 percent, Ethereum Classic was down 8 percent, and SUSHI was down 4.7 percent during the same time period. TRX was ranked 23rd on CoinGecko, with a market capitalization of approximately $4 billion. It was trading at $0.06 at the time of writing, down 10% in the previous seven days.
TRX has been realigning within the $0.068 resistance and $0.064 buying pressure for the past two days, following a price drop on June 21.TRX’s price volatility was decreasing, and the Bollinger Bands were beginning to converge. The Awesome Oscillator showed bearish momentum increasing, while the Parabolic SAR showed a bearish trend.
Ethereum Classic (ETC)
ETC returned to a rangebound movement between the $38.95 support and the aforementioned resistance after briefly holding its breath above the $42.84 resistance on June 25.
The token has been trading in this range since 21 June, when it was acting as support in the $42.48 range. Since mid-June, the 4-hour chart has depicted ETC’s southbound price movement, with resistance levels falling from $60.4.
At the time, the Average Directional Index was over 20 and indicated a strong trend. However, its declining movement indicated a less directional market and a weakening trend in the future.
The upwardly trending Relative Strength Index indicated an increase in buying pressure following a visit to the oversold zone on June 21 and 22. Finally, the Chaikin Money Flow surpassed zero as capital inflows increased.
In recent news, Mantis, an IOHK project for the Ethereum Classic network, added simple web protocol access to the blockchain.
SUSHI (SUSHI)
SUSHI’s price fell from $7.2 to $6.5 yesterday and then remained sideways. If this trend continues, the resistance level may fall to $6.5 from the press time level of $7.5.
With a market cap of around $700 million, the token was ranked 65th on CoinGecko. SUSHI was trading at $6.28 at the time of writing, down 16.5 percent in the previous seven days.
The MACD and Signal lines both showed a bearish crossover, and the histogram also showed a bearish trend. Bullish momentum was building, according to the Awesome Oscillator. The diverging Bollinger Bands signaled increased volatility and the possibility of price swings.
The sale of Yield Guild Games (YGG) tokens will begin tomorrow on MISO, Sushiswap’s new token launchpad. YGG is a DAO that invests in NFTs for virtual worlds and blockchain-based games.
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