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The new year brought with it a new dawn on the cryptocurrency market and a green market seems to welcome it. Tron welcomed the new year with a summit and a good market.
At the time of printing, the currency was valued at $ 0.0194, with a market capitalization of $ 1.2 billion. TRX reported a 24-hour trading volume of $ 79 million, with a slight loss of 0.20% in the last hour. The currency was traded on Bit-z with a trading volume of $ 16 million on the TRX / BTC pair, followed by Binance and Huobi.
1 hour
Source: trading view
The currency recorded an uptrend from $ 0.0192 to $ 0.0203, followed by a downtrend from $ 0.0212 to $ 0.0201. The currency was reached with a resistance of $ 0.0201, while strong support was offered at $ 0.0191. The currency was growing at a value of 0.76% in the last 24 hours at the time of printing.
Parabolic SAR points towards a bear market, with indicators aligned over the candles.
Awesome Oscillator indicates an uptrend that is gaining momentum.
Chaikin cash flow under the zero point, indicating a bearish realm.
1 day
Source: trading view
According to the one-day currency chart, it showed a downtrend from $ 0.0325 to $ 0.0247, which further extended to $ 0.0159. The currency also reported an uptrend from $ 0.0129 to $ 0.0193. TRX also saw resistance at $ 0.0215, while support was noted at $ 0.0132.
Bollinger bands seem to diverge, increasing market volatility. However, the moving average line is under the candelabras, marking a bull market.
MACD the line is above the signal line but is in the middle of a crossover that makes the market bearish.
Relative strength index indicates that buying and selling pressures give each other night.
Conclusion
According to Parabolic SAR and Chaikin Money Flow the market seems to be taken over by the bear. However, Awesome Oscillator, Bollinger Bands and MACD predict the bull's victory on the market.
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