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The cryptocurrency market has seen new peaks during the holiday season, but the lurking bear will not let it last. The tenth cryptocurrency, Tron [TRX] he has maintained his position. However, it seems to be ruminated by the bear. The currency recorded an overall decline of 0.12% over the last seven days.
According to CoinMarketCap, the currency was valued at $ 0.0207, with a market capitalization of $ 1 billion. TRX recorded a 24-hour trading volume of $ 122 million with a 6.65% growth over the previous day. However, the price of money is seen to be crushed, with a percentage decrease of 2.27%.
1 hour
Source: trading view
According to the trading point of view, the currency rose from $ 0.0213 to $ 0.0236, after which it dropped from $ 0.0239 to $ 0.0212. The currency met resistance at $ 0.0214, while strong support was provided at $ 0.0182.
Awesome Oscillator points to a bear market, however, losing its momentum.
MACD the line is below the orange line, which indicates a bearish market, immediately after a crossover.
Relative strength index indicates that buying and selling pressures give each other night.
1 day
Source: trading view
As per Trading View, the currency has experienced a massive downtrend without a significant uptrend. The downward trend extends from $ 0.0338 to $ 0.0213. The currency recorded immediate resistance at $ 0.0216, while strong support was seen at $ 0.0119.
Bollinger bands they seem to have diverged, increasing market volatility. The moving average line is under the candelabras that point towards a bullish presence.
Parabolic SAR indicates a bullish market, with the markers lined up under the candles.
Chaikin cash flow it is below zero, marking a bearish market with money coming out of the market.
Conclusion
According to the indicators in the chart of an hour, Awesome Oscillator and MACD point towards a bear market. The indicators of the one-day chart Bollinger Bands and Chaikin Money Flow predicts a bearish market, however, the Parabolic SAR indicates a possible uptrend.
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