The bitcoin price is trading in a descending channel on the 1-hour chart.
Bitcoin price is at the lower end of a range, so far the floor has not been breached at $6,500
Technical indicators Signals
The 100 SMA is below the longer-term 200 SMA to indicate that the path of least resistance is downwards. The sales pressure could therefore not yet be over. The BTC is floating in a bearish channel on the 1-hour chart with a resistance at $7,300, the yellow highlighted area being the range in which the bitcoin price has been floating since May 23. Previously, the price was close to the resistance level of $7,800, but could not overcome this important hurdle, so that a slump was foreseeable. A low was formed at $6,602, so the most important support level continued to hold steady at $6,500. The $6,500 level has already held several times in 2018 as an important support zone (February 6, 2018 / March 30, 2018 / April 6, 2018).

Bitcoin Chart from TradingView

Bitcoin Price Analysis

The RSI is currently at 51 and reflects a relatively balanced relationship between buyer and seller. The MACD is rising towards a neutral zone and recovering from the rapid fall in the share price. Both oscillators show that buyers are not yet exhausted and could push the price further towards $7,000. It is important to monitor the Bitcoin price within the range. If Bitcoin breaches the support level at $6,500, then a price loss towards $5,800 is quite possible. On the other hand, the $7,800 resistance for weeks has been preventing another outbreak of bitcoin prices.

Tron Price Highlights

The Tron price has formed lower highs and lows and the price is in a descending channel
Tron could resume its downward trend
Technical indicators Signals


The 100 SMA is below the longer-term 200 SMA to confirm that the path of least resistance is down. This suggests that the sellout will resume rather than reverse. The RSI is on the rise to signal that sellers are taking a break and buyers are taking over. The Stochastic Oscillator behaves similar to the RSI and shows an upward dynamic of the buyers. It is important to keep an eye on the descending channel. The highest support level is $0.04, while the resistance is $0.06.

Tron Chart from TradingView


market factors
Tron is still waiting for further updates on the Mainnet launch and the investors seem nervous at the moment. The big media reports about the CoinRail hack and that it should be responsible for the price drop. However, compared to larger crypto exchanges, the stock exchange had almost no volume, so that the hack could not cause such damage. Read more in this article.

Ethereum Prize Highlights
The Ether price is currently correcting after a sharp decline
The bearish trend line that was highlighted yesterday with a resistance of $545 on the hourly chart remains intact.
ETH could continue to move towards resistance levels of $540 and $545 in the near future
The Ethereum price is currently recovering against the US dollar and bitcoin. ETH will probably face sellers near the $540-545 zone.

Technical indicators Signals
After a sharp decline, the ETH Prize found support at the $500 mark. The price was traded to $503.04 before finding short-term support. As a result, the price began an upward correction and is currently traded above $530. However, there are many barriers on the upside near the $540 mark. More importantly, the bearish trend line that was highlighted yesterday has a resistance of $545 on the intact hourly chart.

Ethereum Chart from TradingView

Ethereum price analysis
Looking at the chart, the price is showing signs of recovery above $510. However, the current rally could be confronted with strong selling interest close to $560. On the other hand, a break below the $500 level could accelerate the short-term fall towards $450. The MACD is slowly moving into the bullish zone. The RSI continues to move up and exceeds the 50 mark. The highest level of support is currently $500, while the widget