Monero, Tron, Synthetix Price Analysis: 11 September – AMBCrypto EnglishSeptember 11, 2020
For all the talk about an incoming altseason, the last few weeks have seen Bitcoin’s influence on the crypto-market become more and more apparent. Defying expectations, the world’s largest cryptocurrency fell incredibly on the charts, falling under $10K even.Soon, contrary to decoupling claims, most of the market’s alts followed suit, with many of them registering double-digit depreciation on the charts. At the time of writing, however, some of these altcoins, including the likes of Monero, Tron, and Synthetix, were on their way to register some form of recovery.
Tron [TRX], the 14th-ranked cryptocurrency on CoinMarketCap, has been noting topsy-turvy price movement on the charts over the past 45 days. This was the case in September too, with TRX’s uptrend reversed by Bitcoin’s depreciation on the charts, a reversal that pulled down the crypto’s price by over 25%. However, at press time, TRX seemed to be noting some recovery, with the crypto up by 13% since hitting a low on the 3rd of September.
Despite the aforementioned recovery, TRX’s technical indicators remained unconvinced as while the Parabolic SAR’s dotted markers continued to highlight a bearish market, the Awesome Oscillator pictured bearish momentum, with shades of green.
Justin Sun, CEO of the TRON Foundation, was in the news recently after he informed the community that the first mining rewards for SUN Genesis Mining had already been issued.