Tron [TRX/USD] Technical analysis: Bear looms over the coins as the imminent fate approaches

Since last weeks, the cryptocurrency market has shown signs of recovery from the barbarism of the bear, with most of the coins that recovered faster than the others while rising to double digits. One of the coins was Tron [TRX], the tenth largest cryptocurrency by market capitalization. However, the currency could once again face the bear in the market in this new year.

According to CoinMarketCap, at the time of the press, Tron was trading at $ 0.0198, with a market capitalization of $ 1.32 billion. The cryptocurrency showed a trading volume of $ 97.23 million.

1 hour

Tron hourly price chart | Source: trading view

The graph of an hour shows a downtrend starting at $ 0.0239 and ending at $ 0.0209. The cryptocurrency recorded more uptrend trends, with the first set from $ 0.803 to $ 0.0191 and the last from $ 0.0192 to $ 0.0202. The immediate resistance for the currency is set at $ 0.0209 and the strong resistance is at $ 0.02149. Immediate support can be found at $ 0.0191 and strong support at $ 0.0182.

The Parabolic SAR is pointing to a strong bearish presence as the points are lined up above the candlesticks.

Chaikin cash flow it is also on the same page where he is showing that money is coming out of the market.

Bollinger bands it is expecting a less volatile market while the gangs are closing in on the other.

1 day

Tron day price chart | Source: trading view

In the one-day chart, the coin shows a downtrend from $ 0.0725 to $ 0.0208. On the other side, the upward trend is marked by $ 0.0119 to $ 0.0129. The chart also records another upward movement from $ 0.0132 to $ 0.0193. The immediate resistance to cryptocurrency is $ 0.0217 and the strong resistance is $ 0.0498. The coin will first be supported at $ 0.0186 and then the land will be $ 0.0118.

Klinger Oscillator it is already showing a bearish market because the reading line has done a crossover only to seek shelter in the rabbit hole.

MACD he is currently trying to keep the bull on the market. However, the moving average line provides for a crossover.

RSI is showing that the buying pressure and sales pressure for cryptocurrency are currently leveled on the market.

Conclusion

The good days of cryptocurrency in the market seem to be coming to an end because the indicators show the bear's return to the market. I am Klinger Oscillator from the one-day chart, the flow of Chaikin money and the parabolic SAR from the chart of an hour.

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Priya is a full-time member of the AMBCrypto reporting team. He is a finance specialist with a one-year writing experience. You had no value in Bitcoin or other currencies.