Home / Coin Payment / Tron [TRX] Technical analysis: Coin rides pastures with the bull

Tron [TRX] Technical analysis: Coin rides pastures with the bull

All the major cryptocurrencies of the CoinMarketCap list have suffered from the bear's attack in the last days. Coins, at the time of printing, are trying to recover, but with the current growth, it seems a slow recovery, similar is the case of Tron [TRX]. The ninth largest cryptocurrency has put a strain on the bear and has been hurt a lot of times.

At the time of printing, the cryptocurrency was valued at $ 0.0240, with a market capitalization of $ 1.6 billion. The currency recorded a 24-hour trading volume of $ 148 million, down 1.68% over the last day. The currency has recovered by 1.02% in the last hour and by 74.4% in the last week.

1 hour

Source: trading view

Source: trading view

The hourly chart of the currency indicates a massive increase in the price of the coin from $ 0.0215 to $ 0.0235. However, the currency also saw a downtrend from $ 0.0251 to $ 0.0242. The currency recorded resistance at $ 0.0250 with support tagged at $ 0.0235.

Awesome oscillator points to a weakening of the bull market.

Bollinger Bands seem to diverge after close convergence, increasing market volatility. The average mobile line is under the candelabras, marking a bull market.

Chaikin money flow it also indicates a bull market, with the marker above zero.

1 day

Source: view of trading

Source: view of trading

The chart of a coin day tells a different story. The currency reported a massive downtrend from $ 0.0338 to $ 0.0213. The currency also recorded a recent uptrend from $ 0.0132 to $ 0.0215, which extends further to $ 0.0237. The resistance was marked at $ 0.0287 with support noted at $ 0.0237.

Parabolic SAR indicates a bearish market, as the markers lined up above the candlesticks.

MACD the line is below the signal line, indicating a downward trend.

Relative strength index indicates that buying and selling pressures give each other night.

Conclusion

According to the indicators, Awesome Oscillator, Bollinger Bands and Chaikin Money Flow provide a bullish market. However, the indicators, Parabolic SAR and MACD have predicted a race to the bottom. In line with the majority, an upward trend could approach.


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