Tron, Synthetix, STEEM, FTX Token Price Analysis

Featured Story

By Saif Naqvi

As market leaders Bitcoin and Ethereum moved deeper into the bearish zone, other altcoins registered losses and scrambled to find support at various levels. Tron hovered just above the $0.058-support, while FTT moved towards the $35-level. SNX continued its descent within a down channel, while STEEM cooled 0ff from its local high.

Tron [TRX]

Source: TRX/USD, TradingView

An upwards breakout from a consolidation phase allowed Tron to snap a fresher local high at $0.684, but a saturated market reversed trajectory and the price formed a new base at $0.0588. Stabilization around the press time level would be healthy in the long-run, but TRX would need to overcome bearish technicals and maintain its support level first.

The Awesome Oscillator formed a bearish twin peak, a setup that usually sees a sharp shift of momentum towards the selling side. The MACD line moved well below the Signal line as well. The 50-SMA (blue) and 200-SMA (green) could act as a buffer against further price drops if needed.

STEEM

Source: STEEM/USD, TradingView

Year-to-date gains of over 367% highlighted a strong start to the year for STEEM. The altcoin’s price registered rangebound behavior between $0.49 and $0.39, before breaking north of the 4-hour timeframe and resuming its most recent uptrend. What was more impressive was the fact that gains over the last 2 days touched nearly 50% and came at a time when most altcoins were moving sideways along with BTC and ETH.

Trading volumes clocked in at over $408 million, while the OBV showed strong buying pressure. The RSI settled under the overbought zone and pictured a high concentration of buyers. The price would likely hold on to its press time level in the short-term, with $0.702 being the first line of defense in case of a reversal.

Synthetix [SNX]

Source: SNX/USD, TradingView

A pullback from above the $23-price level saw the price snap lower highs and lower lows, both of which led to the emergence of a down channel on Synthetix‘s charts. While gains in the first three months of 2021 were healthy at over 100%, weekly losses of 4.6% underlined some short-term weakness in price. The momentum was strong on the selling side, according to the Awesome Oscillator, as SNX tested the $17.7-support at the time of writing.

The bulls did manage to defend this level over the last week and a fightback can be expected once again. A bullish crossover in the Stochastic RSI added some optimism to the mix. Since SNX showed an uptrend prior to the pattern, a breakout from the upper trendline looked likely over the medium-term.

FTX Token [FTT]

Source: FTT/USD, TradingView

A bearish broader market was reflected by FTX Token’s price, with the cryptocurrency dropping below the channel of $41.6 and $38.7. The OBV showed that sellers outmatched the buyers as the index moved south over the last few sessions. It did flatten at the time of writing, however, which indicated some buying activity as FTT held steady above its press-time support.

The RSI reversed from the oversold zone and disallowed an extended bearish-scenario.

StevieRay Hansen
Editor, BankstersCrime

One of the signs of ruling class collapse is when they can no longer enforce the rules that maintain them as a ruling class. When the Romans started making exceptions to republican governance, it was a matter of time before someone simply decided the rules no longer applied to them. Perhaps the robot historians will consider Obama our Marius or Sulla. Maybe that person is in the near future. Either way, the rule of law is over and what comes next is the rule of men.

“Don’t piss down my back and tell me it’s raining.” Outlaw Josey Wales

WE NOW LIVE IN A WORLD THAT IS PURE FABRICATION

BanksterCrime

Don't Miss

Keeley Teton Advisors LLC trimmed its position in Bancorpsouth Bank (NYSE:BXS) by 7.3% during the first quarter

By StevieRay Hansen

When one knows the truth and refuses to obey it, he is subject to any lie, any deception, any untruth that man can conjure up.…

Read More

Will Bancorpsouth Bank (NYSE:BXS) Run Out of Steam Soon? Short Interest Is Down

By StevieRay Hansen

The dictionary defines capitalism as “an economic system characterized by private or corporate ownership of capital goods, by investments that are determined by private decision, and by…

Read More

BancorpSouth Bank (BXS): Watch List Financial Stock,UP-Date 4/22/19

By StevieRay Hansen

If materialism was ever to satisfy anyone, it would have been Solomon, the richest king the world has ever known. He had absolutely everything and…

Read More

What Ever Happened to Antitrust?

By StevieRay Hansen

The May 20 settlement between the Justice Department and five giant banks reveals the appalling weakness of modern antitrust. The banks had engaged in the…

Read More

Equity Focus: Investors Taking a Second Look at BancorpSouth Bank (NYSE:BXS) After Recent Market Moves,Money Flow Indicator Has Ducked Below The Zero Line

By StevieRay Hansen

Wealth-creating capitalism requires more than just competition and trading. Beneficial capitalism is founded on the “rule of law and virtues like cooperation, stable families, self-sacrifice,…

Read More

Chevron New (CVX) Shareholder Fort Point Capital Partners Cut Its Stake

By StevieRay Hansen

JUST BECAUSE WE CAN’T SPECIFY THE EXACT REASON FOR PAIN, THAT DOESN’T MEAN THERE ISN’T ONE. Bank are bad for society as a whole, Christians…

Read More

MetLife Investment Advisors LLC lessened its position in shares of Bancorpsouth Bank (NYSE:BXS) by 19.9% in the 4th quarter

By StevieRay Hansen

Why doesn’t God cause Christians to win the lottery so the money can be given to good causes? God doesn’t need the lottery to fund…

Read More

Technical Investor Update for Bancorpsouth Inc (BXS)

By StevieRay Hansen

I have a confession to make. Every once in a while, when the lottery jackpot is worth at least a few hundred million dollars, I…

Read More

Criminals got good service at Nordic banks

By StevieRay Hansen

Being “good” can get you far in our world. Good behavior wins praise, commuted jail terms, and tangible rewards. Good deeds net accolades and often…

Read More

He is a no stranger to the readers of business and corporate crime.

By StevieRay Hansen

God did not overlook the corruption in Noah’s day: “Then the Lord saw that the wickedness of man was great in the earth, and that every…

Read More
Posted in

StevieRay Hansen

Leave a Comment