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The cryptocurrency market has restarted its sideways movement after experiencing a fair level of volatility in the last week. At the time of writing, Tron [TRX] it was trading at $ 0.0228, with a market capitalization of $ 1.5 billion. It increased by 1.03%, with a 24-hour trading volume of $ 70.8 million.
1 hour:
TRXUSD 1 hour candelabras | Source: tradingview
In this scenario of the TRX candlesticks, the downward trend goes from $ 0.0235 to $ 0.0232 while it is observed that the upward trend is extended from $ 0.0223 to $ 0.0228. A possible trend breakout is not visible in the short term.
The Parabolic SAR is bearish on the Tron market as of now. The points are floating above the candles, suppressing an upward trend in the market.
The Awesome Oscillator a warning signal also flashes. The indicator is painted red, predicting a negative price trend.
The Chaikin cash flow the indicator has just turned his head to follow a bearish path after reaching the main road.
1 day:
TRXUSD 1 day candlesticks | Source: tradingview
Trend lines in one-day candlesticks are observed from $ 0.0389 to $ 0.023 [downtrend] and $ 0.0183 to $ 0.0221 [uptrend]. The two lines are close to the intersection point one with the other, so a breakout in the trend could occur in the near future.
The Bollinger bands they are contracting a narrower path, supporting a less volatile market for Tron.
The RSI it was quite neutral about the TRX price forecast. However, he is currently heading down alongside the bear.
The Klinger Oscillator he nodded to the aforementioned indicator. He made a bearish move in his last crossover from the signal line to suggest a lower price for the token.
Conclusion
In technical analysis, none of the indicators aligns with healthy price dynamics for Tron. All indicators are approaching or are already in the bearish zone.
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