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Tron [TRX] has held its mantle on the tenth position on the CoinMarketCap list. Even though December 7 changed the trends of the major coins. Currently, the coin appears to be nearing green pastures.
According to CoinMarketCap, the coin was valued at $ 0.013, with a market cap of $ 873 million. However, the coin plunged by 4.5%, registering at 24-hour trade volume of $ 101 million. Miniscual growth of 0.7% in the past one hour.
1-hour
Source: Trading View
The one-hour chart for TRX shows a downtrend from $ 0.0145 to $ 0.0122. After which an uptrend is observed till $ 0.01284. It has a strong support at $ 0.01229.
Parabolic SAR bullish market as the markers is under the candle.
Awesome Oscillator too marks a bullish market, with a reducing momentum.
Chaikin Money Flow, on the other hand, points towards the market.
1-day
Source: Trading view
The one-day chart of TRX marks a downtrend from $ 0.0390 to $ 0.0247, which goes further down $ 0.0226 to $ 0.0144. The coin saw a negligible uptrend from $ 0.0119 to $ 0.0138. There was an immediate resistance registered at $ 0.0158 and a strong support at $ 0.0119.
Bollinger bands appear to be converging with the moving line above the candlesticks.
MACD unlike the previous indicator points towards a bullish market with the MACD line over the signal line. However, there is a possibility for a crossover making the market bearish.
RSI that the buying and selling pressure is the evening out of the oversold zone.
Conclusion
The aforementioned indicators point towards a bullish market. However, according to MACD and Bollinger bands, please indicate that the market may turn on the bull and side by the bear.
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