Top 5 Crypto Performers Overview: TRON, Bitcoin, Litecoin, EOS, Cardano

The first news that pushed prices higher was the tweet from Justin Sun, CEO of TRON on October 08.

The second news that led to higher prices was the tweet on October 12 that hinted at a partnership with an industry giant.

Each lower high shows that the sellers are in a hurry to short or liquidate their positions and are not waiting for higher levels.

Previous attempts to stabilize and start a new uptrend have failed at higher levels.

A new uptrend will be confirmed only after the virtual currency successfully defends the breakout of the range and makes a series of higher highs and higher lows.

Though the bulls broke out of the range in end-April, they could not sustain the highs and prices crashed back into the range.

On the downside, the bulls have been defending the bottom of the range but have failed to rally higher.

It has fallen about 94 percent from the highs of $1.396281, reached on January 05.

Various attempts to start a new uptrend have failed as higher levels attract selling.

A sequence of higher highs and higher lows will herald the start of a new uptrend.