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The past few days have been nothing short of erratic for Trons and the rest of the cryptocurrency market. This week’s market crash got triggered by the Chinese government’s anti-crypto stance reiteration coupled with the bearish undertone from last week’s Tesla announcement.
The bearish market condition worsened on Wednesday following overleveraged trading positions.
That said, the crypto market selloff appears to remain unabated. At press time, the total cryptocurrency market valuation is down by 7.46%, while TRX trades at -10% on the day. Over seven days, the twenty-third-largest cryptocurrency is down by -39%.
Meanwhile, Bitcoin also traded without any bullish luck, as the benchmark cryptocurrency resumed a descent to the $36k mark today and bottomed at $30k on Wednesday’s crash.
Other large-cap cryptos suffered significant losses as well, with Ethereum and Binance Coin slumping to multi-week lows on Wednesday at $1,850 and $230, respectively.
At press time, Ethereum, Binance Coin, Cardano, Ripple, Dogecoin, Polkadot, and Internet Computer all have double-digit declines with -10%, -14%, -13%, -12%, -11%, -18%, and -13%, respectively.
That said, mid-and-low-cap cryptocurrencies are not faring any better either.
Conclusively, the cumulative market cap of the cryptocurrency market stands at $1.61 trillion, after bottoming at $1.45 trillion on Wednesday.
Galvenie noskatāmie tronu līmeņi - 21. maijs
After consolidating below the $0.0900 resistance for most of today, Tron has fallen below the $0.0800 line as bears remain relentless. The cryptocurrency is currently trading along a descending channel towards the $0.0700 low.
Given that the path of least resistance is downward, we should expect additional declines in the price of TRX over the coming hours.
That said, a fall to the $0.0700 support would help Tron rebound sharply to the $0.1000 level.
Tikmēr mūsu pretestības līmenis ir USD 0.09000, USD 0.1000 un USD 0.1100, un mūsu atbalsta līmenis ir USD 0.0700, USD 0.0600 un USD 0.0566.
Kopējā tirgus kapitalizācija: $ 1.54 triljoni
Tron tirgus kapitalizācija: $ 5.4 miljardus
Trona dominance: 0.35%
Tirgus rangs: #21
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