Home / Cryptocurrency / Tron [TRX/USD] Technical analysis: bears' aggression continues even after the extended reign

Tron [TRX/USD] Technical analysis: bears' aggression continues even after the extended reign

The cryptocurrency market continues its sideways movement, causing investor sentiment. Almost all the major cryptocurrencies and altcoins have suffered a price stagnation, indicating that the bear is gaining the supreme force.

1 hour:

The trend line indicates an acute downtrend from $ 0.025 to $ 0.023, with Tron [TRX] prices slowly and steadily falling. The TRX support reached $ 0.0232, while the resistance at $ 0.0255 was not exceeded in quite some time.

The Relative strength index[RSI[RSI[RSI[RSI]shows a repeated pattern of Tron rising for a while and then crashing into the oversold zone. At present, the cryptocurrency has moved sideways between the overbought zone and the oversold zone, indicating the equilibrium between the purchase pressure and the selling pressure.

The Parabolic SAR it is predominantly bearish, with only a mix of bullish peaks. Bearish drops are indicated by markers above the candles. Currently, the points are lined up under the candelabras, indicating a slightly bullish market.

The Chaikin cash flow [CMF] indicator is going to violate the axis and enter the bear territory. The graph down on the Tron CMF chart is indicative of the money that is coming out of the market. The outflow can be attributed to investor sentiment that is damaged after a lack of price increases.

1 day:

Even the one-day chart for Tron does not take the bull's side, with trend lines indicating a downtrend where prices have fallen from $ 0.050 to $ 0.023. According to the chart, the daily support kept $ 0.018 while the cryptocurrency fluctuated near that point.

The Bollinger bands indicates an elongated tubular formation which is typical of a lateral movement of prices. At the time of writing, the upper Bollinger bands, as well as the lower Bollinger bands, both converged, indicating a further fall in prices.

The Awesome Oscillator indicates the momentum of the Tron market that slowly takes on a diminishing tone. The lack of market momentum goes hand in hand with the stationary cryptocurrency market.

The MACD the line and the signal line moved together because of the lack of breakout. At the time of printing, the signal line slowly began its downward trajectory, which is a bearish signal.

Conclusion

The elongated lateral movement of the cryptocurrency market appears to continue with most of the indicators that project the realm of the bear. All the above-mentioned indicators project a largely bearish market with only the CMF indicator showing an uptrend.


Subscribe to the AMBCrypto newsletter


Source link