Volatility has been strongly exposed in the cryptocurrency market in the month of August, which has resulted into large-cryptos surging and dumping slightly on the charts. During such high volatile period, coins were contributing to sideways movement and at the time of writing, many of these assets were unsure of the trend to follow. mentioned below the Bitcoin SV, Ethereum Tron hourly charts
Ethereum hourly chart
Second only to Bitcoin, Ehtereum is currently reporting 1.63 percent of the chart gains, which is accompanied by a market cap of $44.38 billion. Noting the price of $395 at the moment, Ethereum ‘s movement has remained strictly between $385-$400 since its collapse on 2 August.
Ethereum’s Relative Strength Index is currently indicating higher buying pressure but it was not definite. There is a possibility for the sellers to take charge as well. However, Parabolic SAR suggested that a bearish trend is currently active for the largest altcoin as the dotted indicator is hovering over the candlesticks.
Bitcoin SV hourly chart
Bitcoin SV recently lost its 6th place in the chart to rising Chainlink token as the BTC hard-fork coin registered gains of 1.25%. For Bitcoin SV, a downtrend can be observed as the price continued to decline from resistance at $242, towards support line $218. In the meantime, Bollinger Bands for BSV suggested a reduced volatile period in the future.
With a market capitalization of $4.19 billion, Bitcoin SV incorporated a strong trading volume of $1.31 billion but Parabolic SAR suggested a bearish trend for the token.
However, Chaikin Money Flow is currently hovering over the zero-line, making sure that the capital coming in is outperforming the capital going out in the charts.
TRON hourly chart
Lastly, For Tron, the market is more bullish than the rest of the aforementioned altcoins. At first glance, a strong uptrend can be pictured in the charts for TRX as the asset surged by 5.74% over the last 24-hours. Market Capitalization of the 16th ranked asset is $1.55 billion with an average trading activity of $550 million.
All the market indicators are currently positive for Tron’s short-term future. Starting with MACD, the blue line was pictured above the orange line suggestive of a bullish rally in the charts.
Awesome Oscillator also indicated strong bullish momentum for the token and Parabolic SAR remains under the candlesticks completing the array of green-lighting buy signals.
Disclaimer: The presented information is subjected to market conditions and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (www.tronweekly.com) holds any responsibility for your financial loss.
