The cryptocurrency market has seen a roller-coaster price movement over the past week and no token has been immune to the phenomenon. Also, cryptocurrencies in the lower rungs have seen changes that are typically unheard of in the virtual asset world.
One of the smaller cryptocurrencies that made a name for itself was the Tron based TERC, which has been on the bullish ramp for the past 24 hours. This performance has reinvigorated the ecosystem while, at the same time, bringing in new investors.
At press time, TERC was trading for $0.0175 with a total market cap of $3.58 million. A 16 percent price hike over the previous week had also elevated the daily trading volume to $6469. While the circulating supply maintained above 200 million, fans of the cryptocurrency were expecting another massive surge soon. This positive attitude could also be linked to the number of updates and developments coming out from the TERC holdings.
Technical analysis of the cryptocurrency showed varying degrees of movements over the past week. Looking at the chart, it was pretty evident that the latest climb was making a massive impact on the overall performance of the cryptocurrency, The Bollinger bands had diverged away from each other with the current route expected to generate a large Bollinger cloud. This was the first time since the start of October that the Bollinger cloud had expanded to such a large magnitude.
The Relative Strength Index displayed a really strong performance that lifted the chart closer to the overbought zone. This was a sign that the buying pressure had increased because of more people holding onto their TERC assets. The other indicator that sided with the bull was the Chaikin Money Flow.
According to the CMF, the capital coming into the TERC market had reduced a bit over the past week. Although the graph was still above the zero line, the cryptocurrency would find it good if investors channeled in more towards TERC. Fans of the cryptocurrency need not worry as TERC was on its way to make October its best performing month yet.