Connect with us

Altcoins

Huobi Token, Enjin, Tron Price: Altcoins struggle as market momentum falters

Biraajmaan Tamuly

Published

on

Source: Pixabay

Over the past week, volatility levels in the crypto-asset industry have been relatively stable, amidst quick price movements. This has perhaps allowed some altcoins in the market to consolidate their positions and maybe, attempt to recover some of their lost gains.

Source: TRX/USD on Trading View

Once one of the top altcoins in the market, TRON, was continuing to register a market cap of $772 million, at press time. Although its trading volume was healthy with $793 million, it continued to rank 15th on the charts. Its price hiked by 3.97 percent over the past 24-hours.

Short-term indicators remained bullish for the TRX token as the Parabolic SAR line hovered under the candles. RSI also registered an increase in buying pressure on the charts.

The popular altcoin was in the news recently after reports suggested that TRON had entered into a partnership with Metal Pay to enable instantaneous transactions across the United States.

Source: HT/USD on Trading View

Huobi Token registered a similar spike of 3.28 percent on the charts as its price stretched from $3.22 to $3.33. HT Token had a market cap of $746 million, at press time, but a consistently below-average trading volume of $115 million.

The MACD indicator suggested that the token was bearish in the short-term, but the Bollinger Bands converged on the charts, exhibiting a reduced volatile period.

Source: ENJ/USD on Trading View

Finally, Enjin token recorded a significant hike of 8.79 percent over the past 24-hours. Its price went on an incline from $0.088 to $0.096, but at press time, corrections had brought it back to $0.090. ENJ token’s market cap was under $80 million with a 24-hour trading volume of $15 million.

Indicators were particularly bullish as the MACD line indicated a bullish trend reversal in the short-term. The Parabolic SAR registered a bullish trend as well, with the dotted line under the candles, at the time of writing.

Enjin, a blockchain-based game platform, had recently announced the launch of its multiverse program, with the platform currently on the lookout for developers in the space.

Did you like this article?

Biraajmaan is a full-time journalist at AMBCrypto covering the US market. A graduate in Automobile engineering, he writes mainly about regulations and its impact with a focus on technological advancements in the crypto space.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Subscribe to our newsletter