The past week has been quite tumultuous for the cryptocurrency market with the focus shifting onto the industry from the mainstream spectrum. After a massive Twitter security breach asked users to donate Bitcoin to see their funds double, all eyes have been on the cryptocurrency’s price.
While the Bitcoin’s price actually dipped, other altcoins witnessed significant changes in their price points, with Tron and Monero cryptocurrency acting as prime examples. Over the last 24 hours, the altcoins have undergone some bearish changes that would set the tone for growth next week.
Monero cryptocurrency
Monero cryptocurrency, the privacy-oriented cryptocurrency had dropped a couple of positions on the charts and traded from the 15th place. At the time of writing, Monero cryptocurrency was worth $67.91 with a total market cap of $1.197 billion. A 3.38 percent price fall in the last 24-hours caused the daily trading volume to clock in at $81.984 million.
The Parabolic SAR for Monero cryptocurrency was below the price candles which meant that the cryptocurrency was heading into a bullish realm. This was a complete trend reversal from June when the PSAR markers stayed above the candles. The Chaikin Money Flow indicator had climbed above the zero line, a sign that the capital coming into the Monero cryptocurrency market was much higher than that leaving it.
Tron
Next on the list of influential altcoin performers was Tron, as the Jcryptocurrencys struggled to bear the backlash from founder Justin Sun’s Twitter account hack. Despite the negative news, Tron had only lost 0.56 percent over the previous day to trade at $0.017. Tron’s market cap was $1.143 billion while the 24-hour market volume maintained a healthy $391.53 million.
Just like Monero cryptocurrency, Tron’s CMF had also risen above the zero line., As the company announces more and more developments, the capital coming into the Tron market is only going to increase. The Parabolic SAR for TRX also sided with the bull as the markers stayed below the price candles. It is quite heartening to see a change in the way people perceive altcoins as evidenced by the growing interest around the field.