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Tron, the tenth largest coin on the CoinMarketCap list, gained its position on the top 10 list only last week and has been seen fighting hard to keep it. While Justin Sun of the Tron foundation has introduced new activities and planned investments, the currency is going through a red zone in the market.
According to CoinMarketCap, the currency was valued at $ 0.0134, with a market capitalization of $ 889 million. The volume of 24-hour exchanges of the currency was recorded at $ 54 million, while a minimum growth of 0.34% in the last hour was observed at the time of printing.
1 hour
Source: trading view
According to the diagram of an hour, the currency has experienced a downtrend from $ 0.0147 to $ 0.0142. The trend extends further from $ 0.0140 to $ 0.0136. The currency also showed an uptrend from $ 0.0122 to $ 0.0133. The currency recorded resistance at $ 0.0136, while immediate support was seen at $ 0.0133 and another at $ 0.0122.
Awesome Oscillator marks a bullish market but with a faded momentum.
Relative strength index indicates that buying and selling pressures give each other night.
Chaikin cash flow it is above zero marking a bull market. Money is flowing into the market, however, the current may seem short-term.
1 day
Source: trading view
The one-day chart shows a downtrend from $ 0.0338 to $ 0.0247, which continued up to $ 0.0137. The currency showed an uptrend from $ 0.0183 to $ 0.0219 and after a fall, showed minimal growth from $ 0.0119 to $ 0.0128. The currency recorded immediate resistance at $ 0.0158 and strong support at $ 0.0119.
Bollinger bands indicates a bearish market as the moving average line appears to be above the candle. The bands seem to be in a convergent point, but they can diverge according to previous trends.
Parabolic SAR note a bearish market, as the markers are above the candles.
MACD the line is below the signal line, indicating a bearish market.
Conclusion
The market seems to be sideways and is stagnated. There are no clear indications of a bearish or bullish market, but a bearish momentum could take over the market.
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