Price Analysis

ERD Resumes Uptrend With 47%, TRX Follows At 20% and BNB With 8%

Author: Dare Shonubi

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Certified cryptocurrency expert and Blockchain journalist covering crypto market analysis and general Blockchain adoption and development.

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The crypto markets today seem to have fallen into a bearish pattern. This is the remnant of the last 24 hours since when the bulls retired slightly and intense selling pressure set in.

Today’s market watch features top gainers which have driven the bear markets in the opposite direction. While Bitcoin and many other cryptocurrencies dived into a seemingly bottomless pit, few cryptos like TRX and BNB are seen making gains. ERD is seen to be leading these set of gainers.

#1. Elrond (ERD 48% Gain):

ERD trading

Elrond comes second on today’s list with a moderate gain of 48% in the last 24 hours.

The coin’s market impression is entirely bullish with 97% of market players guessing that a bullish spread into the ripe of the trading day is very possible.

The price history of Elrond within the last one year looks outstanding. Since last year till date, ERD has earned 1,398% and nearly 48% since last month. 62% in the last two weeks and 3.2% in the last hour. 

Technical Indicators

  • Next major resistance at $0.035
  • Next major support level at $0.026
  • Resistance Strength Index withdrew form the 80.0 overbought condition
  • Bullish ride trends on top of Bollinger indicator.

ERD is currently trading at $0.030 amid a 24-hour market capitalization of $409 million. Within various exchanges, additional $890,961 ERD was exchanged in the last 24 hours. 

#2. TRON (TRX 20.7% Gain):

TRX trading

Tron blockchain’s native crypto, TRX spots the limelight for the first time since the onset of the alt season. As the top crypto makes waves towards higher heights, it gains roughly 20.7% in the past 24 hours.

TRX’s market emotion is conveniently bullish with roughly 90% market optimism, according to stats on Coingecko.

Within the past 24 hours, TRX experienced two major price swings, altogether striding it towards greater optimism. Major support is established at $0.29 but prices are now playing around the $0.35 level.

Technical Points

  • Next key support at $0.30
  • Next resistance level at $0.35
  • RSI horizontal at 50.0

Also Read : Tron Price Prediction – Could 2020 Be the Year of the TRX?

#3. Binance Coin (BNB 7.5% Gain):

bnb trading

coming third on this list, BNB joins the calibre of top gainers with roughly 8% gain within the last 24 hours.

BNB jas a quite impressive market sentiment and many market observers believe on the short term possibility of a bullish run. With round 89% market positiveness, BNB imbibes confidence and long term prospects.

Technical Points

  • A major support is building at the $25.0 level
  • Next level of key resistance lies at $25.50
  • RSI swings into a horizontal pattern at the 50.0 level.

As of present, BNB is changing hands at $25.11 amid a market cap of around $3.7 billion.

Also Read : Crash or Rise – Binance Coin Price Prediction 2020

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Dare Shonubi

Certified cryptocurrency expert and Blockchain journalist covering crypto market analysis and general Blockchain adoption and development.

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