Home / Cryptocurrency / Tron [TRX/USD] Technical analysis: Bull on the edge of the loss of coins to support

Tron [TRX/USD] Technical analysis: Bull on the edge of the loss of coins to support

The cryptocurrency market has been painted with red and green this month, with most days becoming green. The holiday season also chose to hold off the brutality of the bear while the bull took the oath to protect the coins from a huge dip. However, as the month nears its end, the market seems to be on the verge of losing its bear power again.

According to CoinMarketCap, at the time of the press, Tron was trading at $ 0.0197 with a market capitalization of $ 1.31 billion. The cryptocurrency has a trading volume of $ 68.26 million and has shrunk by more than 12% over the last seven days.

1 hour

Tron hourly price chart | Source: trading view

Tron hourly price chart | Source: trading view

The graph of an hour shows a downtrend from $ 0.0239 to $ 0.0212 and further to $ 0.0205. It is also showing a further slight downtrend, ranging from $ 0.0205 to $ 0.0202. The uptrend has found its starting point at $ 0.0183 and its final point $ 0.0201.

The immediate resistance for the currency is recorded to be positioned at $ 0.0208 and the strong resistance at $ 0.0218. The cryptocurrency price level of $ 0.0182 has come forward to help the currency in case the bear attempts to break down the currency.

Parabolic SAR is indicating that the bull is currently consumed, giving the bear the advantage of regaining its position in the market. This is because the points have begun to align over the candlesticks.

Bollinger bands is proving that the two players in the market will not clash early, as it provides for a less volatile market.

Chaikin cash flow is showing that money is coming out of the market, indicating that the bull is badly hurt due to the constant battle.

1 day

Tron day price chart | Source: trading view

Tron day price chart | Source: trading view

In the one-day chart, cryptocurrency shows a downtrend from $ 0.0498 to $ 0.0213. The graph also shows the progress of the coins this month as it records two bullish trends, the first from $ 0.0119 to $ 0.0129 and the second from $ 0.0132 to $ 0.0186.

The currency is going to face immediate resistance at $ 0.0217 and the strong resistance at $ 0.0398. Immediate support for cryptocurrency is currently $ 0.0186 and strong support for $ 0.0118.

Klinger Oscillator shows that the bear managed to demolish a wall in the market, as the indicator is showing that the reading line has only crossed a crossover to go south.

RSI is showing that the buying pressure and selling pressure for the currency are currently leveled on the market.

MACD he is still strong beside the bull, however, he imagines there is an imminent crossover in the pipeline.

Conclusion

The bull is showing signs of fatigue because he has lost several indicators for the bear. This includes the Klinger Oscillator from the one-day chart, the Parabolic SAR and the Chaikin Cash Flow from the one-day chart.


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