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Crypto market weekly: Tron (TRX) holders joyful, while Stellar (XLM) is slowly sinking into a full-fledged crisis

Sarah Wurfel

January 28, 2019

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Is this already the end of the sideways movement? For the most part, that would be a pity, since prices have not moved in the direction desired by long-term investors. As expected last week, there were negative price developments. In any case, the majority of crypto currencies within the top 10 had to record price losses. After all, Tron was able to rise by fourteen percent. The Bittorrent Token Airdrop will certainly play a role here.

Market capitalisation fell accordingly from 119 billion US dollars to 114 billion US dollars.

Last week’s assessment can be translated into this: Most of the assessments are bearish, so that one could think of a short position after falling below the indicated supports at the latest. For Tron and with a few exceptions Litecoin and EOS, the situation is somewhat more benevolent: Tron is currently formally offering itself for a long position, while investors at EOS and Litecoin should wait for a rise above the resistance or a fall below the support.

Best price performance: Tron (TRX)

Trons Bull Run hardly knows a pause: Since December 2018 the crypto currency of Justin Sun has defied the bear market and at the end of 2018 was even able to overcome the moving average value of the last 20 weeks (marked in red). This led to a price gain of almost 14 percent last week. Currently, the Tron price is fighting against the resistance at 0.03 US dollars, but so far nothing looks like an end to the rally. The BTT-Token-Airdrop is currently attracting too much interest.

A positive and rising MACD as well as a slightly rising RSI at 61 lead to a bullish impression, which is confirmed by the Aroon indicator. So why not try a long position? Targets are described via the two resistances at 0.037 US dollars and 0.045 US dollars, while a possible stop loss is 0.024 US dollars. Should the price actually fall under the support at 0.020 US dollars, a short position would be the obvious choice, with a target at the level of the second support of 0.015 US dollars and a stop loss of 0.024 US dollars.

Worst price development: Stellar (XLM)

What the Tron course was able to gain, Stellar almost had to give up: The Stellar course had to give up a total of 13 percent. At the beginning of 2019 he still tried to break through the resistance described by the moving average of the last 20 days, but the price could not rise above it.

A negative, slightly falling MACD and an RSI at 30 speak bearish language. While the almost oversold RSI may give hope, the late November to mid-December trend shows very well that an oversold RSI does not have to be immediately followed by a bull run. The Aroon indicator confirms bearish sentiment with a strong Aroon down signal. A short position is therefore the obvious choice. Entry Point would be the support at 0.084 US dollars and at 0.065 US dollars the target. The stop loss would be a tight one at 0.097 US dollars. If the price can rise above the moving average of the last 20 days, a long position would be the obvious choice. As targets, the resistances at 0.124 US dollars and 0.166 US dollars are suitable, while as a stop loss, as with the short position, 0.097 US dollars can be used.

Stability of the Top 10

The sale resulted in a change of order within the Top 10: Tether is now in 5th place and Tron was able to lift himself over Stellar, at times even over Litecoin. Furthermore we have a neck-and-neck race on the middle places: The market capitalizations of EOS, Tether, Bitcoin Cash, Litecoin, TRON and Stellar follow closely one after the other. At a good six percent, the largest gap lies between Stellar and Tron. Even at the top, the battle for second place has not yet been fought out: Only nine percent separate the market capitalizations of XRP and Ethereum.

Winners and losers of the week

On average, the crypto currencies of the top 100 fell by five percent and thus performed significantly better than Bitcoin. The week’s winners were Holo and Pundit X, whose prices gained more than 40 percent. The losers of the week were Aurora, Power Ledger, Steem and Augur, who each suffered 20 percent price losses.

70 percent of the top 100 crypto currencies performed worse than BTC. However, the market share remained at 53 percent.