Tron (TRX) and Binance Coin (BNB) are back at it again. Which has the most profitable trade setup?
A look at current short- and long-term trading patterns alongside an analysis of technical indicators may give us an answer.
If you need to catch up, you can read our previous analysis here.
Tron (TRX) vs. Binance Coin (BNB): Price Outlook
On Dec 17, 2018, the price of TRX began a rapid upward movement. It reached a high of $0.035 on Jan 10, 2019. A gradual decrease followed.
A horizontal support line is traced at $0.217 and while a horizontal resistance line is traced at $0.315. Together, these generate the horizontal channel outlined in the graph below:
The price has touched the resistance and the support lines of the channel three and four times respectively.
The price of BNB is trading in a different pattern. After reaching a low of $6.03 on Jan 10, Binance Coin began an upward movement.
It has since been trading inside a broadening ascending wedge: