There are many people in the cryptocurrency space who have investments in Bitcoin and altcoins. They especially prefer leading cryptocurrencies. Altcoin TRON and Cardano are among them. So what kind of outlook do the two altcoins present at this point? Let’s have a look at the details.
Altcoin TRON
As of June 17, 2023, altcoin TRX price is trading at $0.07129 on Binance. Accordingly, the rise is at the level of 1.7%. On the other hand, the volume of altcoin TRX traded in the last 24 hours is 192,360,189. We are looking at a detailed breakdown of technical indicators for altcoin TRX at cryptokoin.com. Accordingly, the following situations arise:
- RSI(14): The Relative Strength Index (RSI) compares the magnitude of recent gains with recent losses to identify overbought and oversold conditions for an asset. An RSI of 60.440 indicates a buy position.
- STOCH(9,6): The Stochastic Oscillator compares a security’s closing price to its price range over a period of time. A value of 61,836 indicates a buy status.
- STOCHRSI(14): The Stochastic RSI combines two popular indicators, the Stochastic Oscillator and the Relative Strength Index. A value of 51,387 indicates that the asset is in a neutral state.
- MACD(12,26): The MACD is a trend-following momentum indicator that shows the relationship between two moving averages of a security’s price. A value of 0.000 indicates a buy position.
- ADX(14): The Average Directional Index (ADX) is used to measure the strength or weakness of a trend, not the actual direction. A value of 15.290 indicates a neutral position.
Other indicators
- Williams %R: The Williams %R is a momentum indicator that measures overbought and oversold levels. A value of 18,000 indicates that the asset is in an overbought condition.
- CCI(14): The Commodity Channel Index (CCI) is a momentum-based oscillator used to help determine when an investment instrument has reached an overbought or oversold condition. A value of 100.4792 indicates a buy position.
- ATR(14): Average True Range (ATR) is a market volatility indicator. A value of 0.0003 indicates less volatility.
- Highs/Lows(14): This value represents the highest and lowest prices in the last 14 days. A value of 0.0000 indicates a buy position.
- Ultimate Oscillator: The Ultimate Oscillator is a technical indicator used to identify potential price reversals. A value of 55,351 indicates a buy position.
- ROC: The Rate of Change (ROC) is a momentum oscillator that measures the percentage change between the current price and the n-period past price. A value of 0.834 indicates a buy position.
- Bull/Bear Power(13): Dr. Developed by Alexander Elder, the Elder-Ray Index is an oscillator that measures the strength of bulls and bears in the market. A value of 0.0007 indicates a buy position.
In summary, technical indicators point to a strong bullish sentiment for altcoin TRX. Because there are eight buy signals, zero sell signals and two neutral signals. The overall summary is STRONG BUY.
cardano
As of June 17, 2023, the altcoin ADA price on Binance is at $0.2671. Compared to the previous day, the increase is at the level of 2%. ADA volume traded in the last 24 hours is 104,159,185. Here is a detailed breakdown of technical indicators for ADA:
- RSI(14): RSI value of 54,343 indicates a neutral position.
- STOCH(9,6): A value of 34.110 indicates a sell status.
- STOCHRSI(14): A value of 17,843 indicates that the asset is in an oversold condition.
- MACD(12.26): 0.001 indicates a buy position.
- ADX(14): A value of 32,571 indicates a sell position.
- Williams %R: 55,652 indicates the asset is in a sell state.
- CCI(14): A value of 34.4691 indicates a neutral position.
- ATR(14): 0.0025 indicates less volatility.
- Highs/Lows(14): A value of 0.0000 indicates a neutral position.
- Ultimate Oscillator: A value of 47,467 indicates a sell position.
- ROC: A value of 1.792 indicates a buy position.
- Bullish/Bearish Strength(13): 0.0017 value indicates a sell position.
In summary, technical indicators point to mixed sentiment for ADA as there are two buy signals, five sell signals and three neutral signals. The general summary is in the SAT direction. Finally, June seems to be more positive for altcoin TRON as technical indicators give a buy signal for altcoin TRON and a sell signal for Cardano. Let’s also mention that the SEC has a security effect on the altcoin Cardano’s data giving a sell signal.
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