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The bear market has been a consistent phenomenon with the majority of cryptocurrencies in the rankings subjected to severe drought. Bitcoin [BTC], which started the market crash about two weeks ago, led to several coins like Tron [TRX] collapsing in value.
1 hour:
The chart at a Tron hour shows a significant decline in value, with a point that sees the price drop from $ 0.0189 to $ 0.01375. Support for cryptocurrency reached $ 0.01332 while immediate resistance is $ 0.01942.
The Bollinger bands they set out to move in parallel, indicating a lateral shift in prices.
The Awesome Oscillator underlines the significant slowdown in the market, due to the stagnant price movement.
The Relative strength index he showed similarities with other cryptocurrencies on the charts, going down to the oversold region. This shows that the selling pressure is more than the buying pressure.
1 day:
Daily charts show the gradual lateral movement in the price movement of Tron after suffering more drops. The first significant fall saw the fall of Tron from $ 0.039 to $ 0.0248. The second downward trend brought prices even lower, with the value plummeting to $ 0.0132.
The Chaikin cash flow [CMF] the indicator has just fallen below the zero line, a reflection of the bear market. The fall also means the outflow of money that has exceeded the inflow.
The MACD the line and the signal line have both started to move in tandem towards the bear area. The MACD histogram was also predominantly bearish.
The Parabolic SAR constantly held above the price candles, a clear indication of the bear market.
Conclusion:
The company led by Justin Sun has made progress on the development front but has not managed to escape the bear's wrath. The indicators all point to the current atmosphere of the market, continuing without major changes of trend in sight.
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