Prices provided herein may be provided by market makers and not by exchanges.Any trading or other financial decision you make shall be at your full responsibility, and you must not rely on any information provided through the website. The content of the website is not personally directed to you, and we does not take into account your financial situation or needs.The information contained in this website is not necessarily provided in real-time nor is it necessarily accurate. When making any financial decision, you should perform your own due diligence checks, apply your own discretion and consult your competent advisors.
It does not constitute, and should not be read as, any recommendation or advice to take any action whatsoever, including to make any investment or buy any product. The content provided on the website includes general news and publications, our personal analysis and opinions, and contents provided by third parties, which are intended for educational and research purposes only. TRX’s price jumped by almost 47% since May 1 amid heightened positive social sentiment for the ecosystem and its native token. Notably, TRX’s price has rallied in tandem with the ecosystem-centric announcements. On Saturday, after Tron founder Justin Sun revealed that the team behind the project had purchased 504,600,250 TRX at an average price of 0.07727 per unit, the same led to TRX’s price rise. Tron’s algorithmic stablecoin USDD went live last week and has since been listed on several platforms for decentralized finance (DeFi) protocols. Tron (TRX)ĪS highlighted in a recent FXEmpire article, Tron’s ecosystem-centric updates have ensured a bullish narrative for TRX even as the larger crypto market falls in heavy losses. indicating that the selling pressure could be reducing.įurthermore, the coin’s rise above $1.10 in the near term could see the token rally to $1.25 ensuring gains for ALGO holders.
If bulls can hold ALGO price above the 20-day EMA at $0.69 then ALGO’s price could see some decent gains in the coming days. In the near future, if the price falls below $32,900, the same would mark a new low for BTC. Notably, the top coin was unable to hold the $34,500 support. As BTC breaks the lower trendline with the price falling further downwards the same could indicate a new bearish trend taking over the market.Īt the time of writing, a majority of indicators were leaning towards the bearish side with bitcoin’s price breaking below the three-month rising trend line. BTC’s price last reached $33,000 at the end of January this year.ĭuring the past couple months, bitcoin mainly had traded between $35,000 and $46,000. On May 9, the king coin of the crypto market, BTC, slid to as low as $33,710 on some exchanges. So, as another bear market takes off, let us look at some of the top coins to watch closely over the coming week. That said, a larger market downtrend for indices, stocks, and cryptocurrencies indicated that market participants were being cautious of their exposure to risky assets. Notably, the S&P 500 and the Nasdaq have also continued declining for five straight weeks.Ī significant correlation in bitcoin’s price with United States equity markets has resulted in BTC price continuing the downtrend. While the crypto market’s outlook was grim, the traditional markets didn’t glimmer either.