Price Analysis

Price Analysis: Ethereum Classic (ETC), Tron (TRX), NEO

Crypto market seems to be shaken since past 2 days now, as BTC, ETH and XRP have drastically had their price dips. Ethereum Classic, Tron and NEO are one of those coins in the market who have also been affected with this market slump. This has led to a huge negative change in overall market cap and 24h volume of the coins individually.

Overview:

  • ETC, TRX and NEO manifest a bullish crossover in the negative axis.
  • None of the coins has received any rooted support from moving averages.
  • Crypto market shows no sign of recovery today.

ETC/USD:

The below ETC price chart is a data feed from Coinbase as on 30th August at 03:57 UTC.

Ethereum Classic (ETC) Price
ETC Price Chart by TradingView

Ethereum Classic manifests a subtle downtrend that is exhibited from its hourly movement in past 5 days. ETC was trading around $6.86 on 25th August. Gaining 9.76% it was trading at $7.531 on the next day i.e. 26th August. Later, on 28th August when Bitcoin had its unanticipated tumble which probably influenced Ethereum Classic to trade at the lowest of $6.37, having a dip of 15.41%. On the same day, ETC price recorded top steps showing lower high at $7.162 and the lower low at $6.889 by 3.811%. Unfortunately, this turned out to be an extended price dip where the price fell below major support level of $6 to the lowest at $5.673. This dip below $6 was now recorded after 9 days of moderate trading. Whereas currently Ethereum Classic is trading at $5.990. 

ETC is dipped under solid selling pressure, having no support from short-term or long-term moving averages. The coin’s current trading price is notably lower by 7.39%, 11.21% and 1.64% from its 10-day EMA, 10-day SMA and 50-day SMA.

TRX/USD:

The below TRX/USD chart is a data feed from Binance as on 30th August at 03:57 UTC.

Tron (TRX) Price
TRX Price Chart by TradingView

Tracing hourly movement of the coin in past 5-days, TRX coin manifests downward stride in 3 parts, the upper stable region when the coin was rightly around $0.018, second sharp dip that took the Tron price to trade around $0.0152 and currently trading with almost flattish trend at $0.0155. TRX coin fell by 17.39% from highest in the said time frame to lowest around $0.015.

Just as the trading scenario of any other coin, TRX price also hold the selling pressure and is not rooted in any of moving averages. Bears rule and MACD slides in the negative axis but with a slight bullish crossover, RSI above 30 but below 50 showing no extremities at present. 

TRX current value is 27.23%, 26.88% and 43.01% lower than 50-day SMA, 50-day EMA and 100-day SMA.

NEO/USD:

The below NEO/USD chart is a data feed from Binance as on 30th August at 04:09 UTC.

Neo (NEO) Price
NEO Price Chart by TradingView

Neo has no different paradigm, rightly observed from hourly movement of past 5-days. The NEO coin was trading around $10.17 near its 30-day moving average. The downward stride and solid breakdown of market on 28th August took the trading price of NEO price from $9.53 to $8.45. This recorded a 11.33% plunge in the trading price within less than 24 hours.

MACD of the coin gave a bullish crossover but in negative dimension below zero, with RSI still inclined towards 30 or the oversold region.

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Mehak Punjabi

Mehak Punjabi is a post graduate in MBA with specialization in Finance and has joined CryptonewsZ with a skill building view in the world of cryptocurrency and blockchain. She is dynamic and a quick learner with a hold on financial analysis.
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