As Bitcoin moved closer to the $ 37,000 mark, the altcoin market seemed to evolve in alliance with the King’s Coin. Likewise, altcoins like TRX, XEM, and ZEC all flashed green during press time. While the momentum is on the bullish market, indicators on TRX and XEM have registered the possibility of a bearish pullback to their respective support levels.
The price of Tron rose with the wider market and traded at $ 0.031, up 4.75% in the past 24 hours. Price could target $ 0.033 if the uptrend continues over the next few trading sessions. On the flip side, a broader market pullback could see the price move towards the support level of $ 0.030.
The Stochastic RSI peaked in the overbought region and suggested a bearish pullback was to be expected.
However, the Awesome oscillator showed that the momentum rested on the bulls, as the green bars rose above the balance mark.
XEM was bullish, at press time, and was trading at $ 0.24, up 8.7% in the past 24 hours. These gains were supported by healthy volumes and helped the cryptocurrency’s market cap to surpass the $ 2 billion mark. However, the indicators were pointing to a correction and the support at $ 0.23 could be the focus for the next few trading sessions.
The Stochastic RSI Heavily traded in the overbought region and a reversal to the oversold area could see XEM challenge the $ 0.23 support level.
The Chaikin Money Flow was moving south, indicating that money was leaking from the cryptoasset.
Since hitting the $ 120 mark, Zcash has not been able to maintain its upward trajectory on the charts. In fact, the price had fallen over 12% since reaching the aforementioned level. However, gains in the broader market had a positive effect on the ZEC late with the price observing the resistance level of $ 109.76. A bullish cycle could see the price reverse the upper cap. The relative strength index pointed upwards from the neutral zone, a sign that the price could stay bullish until the index moves lower.
The MACD was on the edge of a bullish cross as the fast line appeared to move above the Signal line.
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