Tron (TRX), Ethereum (ETH) and XRP(XRP) Medium Term Outlook Suggests Bearish Trend

cryptocurrency

The biggest cryptocurrency by market cap, Bitcoin has shedded $20 off its price since yesterday. Altcoins have also seen a decline in price in the last day. At press time, close to 75% of the top cryptocurrencies were in the red.

Ethereum (ETH) Price Today – ETH / USD

#NamePrice24H %
2
ethereum
Ethereum(ETH)
$150.05
2.02%

The total market cap of digital currencies has also declined in the last 24 hours. It moved to $139 billion from $140 billion.

Litecoin suffered the most in the lineup. EOS was the second biggest loser, followed by Ethereum and XRP.

Ethereum price analysis – will ETH recover?

ETH price has not been able to push through the $140-141 resistance level. This led to a decline against the dollar. ETH price also broke the $137 support area, trading at $135, a new weekly low. This implies a bearish trend with a resistance of about $140 on the hourly chart.

The ETH/USD pair may continue to move in a downward slope if it does not surge above the $140 resistance level. The price is entering the bearish zone against bitcoin and the USD. The coin is at risk of bear movements if it doesn’t surge above $140.

From the chart, the price of Ethereum is correcting the gains from last week for the swing low of $135. Ethereum price is approaching important support levels such as $136 and $137. This coin must climb above the $140 level to avoid a downside correction below the $135 level.

XRP Price Live

Yesterday, the cryptocurrency price was hovering around the $0.31 level. Two days earlier, the bulls pushed for $0.32 but was met with resistance. The bearish trend broke below the EMAs and reached the $0.31 low. The bulls are still attempting to break the EMAs.

XRP (XRP) Price Today – XRP / USD

#NamePrice24H %
3
ripple
XRP(XRP)
$0.228
1.26%

XRP price has been fighting in a tight range for days now. On the upside, where the $0.31 price stands, the bulls will find it easier to break above the EMAs and reach the $0.33 level.

On the other hand, if this price level doesn’t hold, the bears may step in and test a lower price range of $0.30. The price of XRP is below the EMAs, and this indicates that it has entered the bearish trend zone. The signal line and MACD line are above zero, and it indicates a buy signal for traders.

XRP price will appreciate if the bulls break above the EMAs. The price is still in the bearish trend zone as shown by the MACD line and the signal line.

Tron price analysis

TRX price has failed to break the resistance level of $0.0240 resistance. It has also declined against the USD. There was also a break below the key bullish trend line and support was pegged at $0.0232. Its price is now at risk of suffering more losses if it falls below the $0.0225 and $0.0222 support areas.

The digital currency price is trading in the bearish zone against the USD and bitcoin. TRX may accelerate losses towards the $0.0220 level.

TRX price is moving further into the bearish zone, and if the sellers gain strength, its price could decline. Another scenario is a swing low of $0.0215 after which buyers may emerge.

 

Princess Ogono is a writer, lawyer and fitness enthusiast. She believes cryptocurrencies are the future. When she's not writing, she spends time with her adorable cat, Ginger and works out often.

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