Solana, LUNA, Tron Price Analysis: March 10

While the past 24 hours have turned out to be quite menacing for the bulls, Crypto Fear and Greed Index showed minor improvements in general sentiment. The short-term technical data from Solana, LUNA and Tron showed a bearish tendency, but the CMF held the prospects for a rebound in the coming days rosy.

Solana (SOL)

Source: TradingView, SOL/USD

SOL saw a loss of nearly 47% (as of January 20) and hit its lowest point in six months on February 24. It has since seen a more than 40% jump towards its $102 resistance.

Wanting to maintain their lead, SOL quickly fell to test the $80 floor, while the EMA ribbons undertook a bearish flip. Despite its recent down-channel breakout, the alt struggled to find closure above the ribbons. Any further retracements should find proving grounds near the $80 mark.

As of going to press, SOL was trading at $82.65. After losing its centerline support, the bearish RSI intended to test the 40 support. Also, while the -DI (of the DMI) looking north, it confirmed short-term bearish moves for the alt. But the ADX remained weak and projected a fragile directional trend.

Terra (LUNA)

Source: TradingView, LUNA/USDT

After breaking out of the up channel from $86, LUNA lost half its value and plunged to its two-month low on January 31. This level coincided with the 61.8% Fibonacci support. This put the alt in a recovery phase.

It doubled its value over the next few days before facing a $101 barrier. A strong pullback from here would continue to find test support at the 23.6% Fibonacci level.

As of going to press, LUNA was trading at $94.7. The RSI hovered above the midline, but showed diminishing buying influence. After a bearish divergence (white trendline), it showed slowing signs and reversed from the overbought sign. Nevertheless, the CMF continuously revealed a bullish edge after securing its 0.13 support.

Tron (TRX)

Source: TradingView, TRX/USDT

As TRX recovered from its six-month low on January 24, TRX grew in a bullish channel (yellow) on its 4-hour chart.

It posted nearly 40% gains to retest the 61.8% Fibonacci resistance on Feb. 10. Since testing this level, the altcoin has fallen sharply while the 23.6% level provided support. From here, any bullish comeback could find resistance at the USD 0.06 level.

At the time of writing, TRX was trading at $0.05854. the bearish RSI failed to maintain its trendline support as the bears took over. Now the 33-36 range would be vital for the buyers to step in and trigger a pullback. Although the MACD reconfirmed bearish strength by falling below the zero line, the CMF kept the hopes of a revival alive.

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