Home Coins Cardano (ADA) Tron, Synthetix, VeChain Price Analysis: 19 September

Tron, Synthetix, VeChain Price Analysis: 19 September


Tron was observed to have hit a strong zone of resistance, before being rejected and pushed to the downside, at the time of writing. In fact, such bearish momentum appeared likely to continue for TRX. At a time when Ethereum was increasingly being criticized for high Gas fees and a congested network, it could have been Tron’s moment to shine, but things didn’t pan out that way at all.

Further down the charts, Synthetix continued making lower highs in its downtrend while VeChain broke out upwards after a few days of relative calm.

Tron [TRX]

Tron, Synthetix, VeChain Price Analysis: 19 September

Source: TRX/USDT on TradingView

TRX was seeing oversold conditions a few days ago when its RSI hit a low of 23, before ascending just past 50. However, the RSI was unable to remain above 50, and its drop beneath the level highlighted the fact that TRX’s recent 12% surge from $0.263 to $0.296 was merely a bounce.

TRX found a zone of strong resistance at $0.3 and looked likely to drop towards the support at $0.265.

Interestingly, a recent Reddit post has raised questions about JustSwap’s vetting process, claiming that the Tron Foundation has whitelisted a DeFi project that has since pulled a $2 million exit scam. This, despite DappRadar listing the project as “high-risk.”

Synthetix [SNX]

Tron, Synthetix, VeChain Price Analysis: 19 September

Source: SNX/USD on TradingView

Synthetix underlined the possibility of dropping lower on the charts. The Directional Movement Index did not yet show a strong trend, but ADX (yellow) was inching towards 20 and could move further north. Also, the rising -DMI (pink) denoted a bearish trend.

Over the past week, every SNX bounce off the level of support has been overwhelmed by selling pressure. This can be expected to continue. With the price registering lower highs, the way down remained the path of least resistance for SNX.

The next level of support after $4.23 lay at $3.36, representing a 20% depreciation.

VeChain [VET]

Tron, Synthetix, VeChain Price Analysis: 19 September

Source: VET/USD on TradingView

VeChain showed bullishness in the market after a period of consolidation. The Bollinger Bands expanded to indicate heightened volatility, while the price broke out towards the upper band. At the time of writing, the price was staying above the 20-period moving average, a moving average that could be tested as support as VET steadily climbs toward its resistance around the $0.158 zone.

The breakout was also accompanied by high trading volumes, legitimizing the breakout.



Source link

- Advertisement -
Mr Bitcointe
Mr Bitcointehttps://www.bitcointe.com/
“Fact You Need To Know About Cryptocurrency - The first Bitcoin purchase was for pizza.” ― Mohsin Jameel
474FansLike
76FollowersFollow
4,567FollowersFollow
5,261FollowersFollow
1,553FollowersFollow
2,230SubscribersSubscribe
USD - United States Dollar
EUR
1.18
GBP
1.31
CHF
1.10
NOK
0.11
JPY
0.01
CAD
0.76
AUD
0.71

Most Popular

MicroStrategy’s crypto holdings may be paying off more than its business

Business intelligence firm MicroStrategy’s Bitcoin investment is paying off in a big way, with an estimated $100 million in profit. According to data published Oct....

VC calls Ethereum killers ‘toothless’ based on token allocation to insiders

Mythos Capital founder Ryan Sean Adams called Ethereum killers “toothless” based on initial token allocation schemes that often prioritize insiders:Source: Twitter.Adams was referring to...
bitcoin
Bitcoin (BTC) $ 13,629.42
ethereum
Ethereum (ETH) $ 403.98
ripple
XRP (XRP) $ 0.251029
tether
Tether (USDT) $ 0.999607
bitcoin-cash
Bitcoin Cash (BCH) $ 264.07
bitcoin-cash-sv
Bitcoin SV (BSV) $ 175.26
litecoin
Litecoin (LTC) $ 57.77
eos
EOS (EOS) $ 2.66
binancecoin
Binance Coin (BNB) $ 31.58
okb
OKB (OKB) $ 4.68
tezos
Tezos (XTZ) $ 2.08
leo-token
LEO Token (LEO) $ 1.28
cardano
Cardano (ADA) $ 0.103162
monero
Monero (XMR) $ 133.06
stellar
Stellar (XLM) $ 0.081449
chainlink
Chainlink (LINK) $ 12.02
huobi-token
Huobi Token (HT) $ 4.31
tron
TRON (TRX) $ 0.026890
usd-coin
USD Coin (USDC) $ 0.999722
dash
Dash (DASH) $ 70.21
neo
NEO (NEO) $ 17.04
iota
IOTA (MIOTA) $ 0.277263
nem
NEM (XEM) $ 0.097280
zcash
Zcash (ZEC) $ 60.39
maker
Maker (MKR) $ 580.44
paxos-standard
Paxos Standard (PAX) $ 0.999157
ethereum-classic
Ethereum Classic (ETC) $ 5.44
vechain
VeChain (VET) $ 0.011364
true-usd
TrueUSD (TUSD) $ 0.998879
ftx-token
FTX Token (FTT) $ 4.02
kucoin-shares
KuCoin Shares (KCS) $ 0.838906
waves
Waves (WAVES) $ 3.18