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While the entire cryptocurrency market is enjoying the upward trend showing a slight increase in their values, Tron, the ninth largest cryptocurrency for market capitalization, is seen to participate in the race. Cryptocurrency has assumed the highest earnings position in the last 24 hours and seven days, among the top ten coins.
According to CoinMarketCap, at the time of the press, Tron was trading at $ 0.0260, with a market capitalization of $ 1.73 billion. The currency has a trading volume of $ 276.18 billion and has increased by more than 6% in the last one day and by more than 33% in the last seven days.
1 hour
Tron hourly price chart | Source: trading view
In the one-day chart, cryptocurrency shows a strong uptrend from $ 0.0205 to $ 0.0238. It also records another uptrend from $ 0.0240 to $ 0.0265. The resistance for the coin is set at $ 0.0270. However, support levels are illustrated at $ 0.60 and $ 0.0204.
Chaikin cash flow is currently showing a bearish wave while the money is out of business. However, the CMF line has begun to take the upward direction
Bollinger bands it is expecting a less volatile market as the gangs are contracting on the market.
Parabolic SAR he is pointing to a bear market as the points lined up above the candlesticks.
1 day
Tron day price chart | Source: trading view
In the one-day chart, the coin shows a downtrend from $ 0.0617 to $ 0.0268. The upward trend for cryptocurrency is recorded from $ 0.0119 to $ 0.0129 and $ 0.0132 to $ 0.0193. Immediate currency support is $ 0.0270 and strong resistance is $ 0.0498. The currency found its immediate support for $ 0.0186 and strong support for $ 0.0118.
RSI is indicating that the purchase pressure for cryptocurrency is higher than the selling pressure.
MACD is forecasting a bullish market as the moving average line has positioned itself above the signal line after a crossover.
Klinger Oscillator it also predicts a bullish market as the reading line is well above the signal line, after the duo had a crossover.
Conclusion
The indicators predict a short-term victory for the bear. However, the bull will end up defeating the bear and ending its short rule. The indicators on the bear side are the Parabolic SAR and the CMF of the chart at one hour and the indicators on the bull's side are MACD and Klinger Oscillator of the one-day chart.
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