Tron [TRX/USD] Technical analysis: Coin enjoys the presence of the bull

Tron [TRX], the tenth largest cryptocurrency by market capitalization, the bull run is being enjoyed, while most cryptocurrencies have begun to feel the looming presence of the bear. The currency has been in the limelight in the last days, with the last reason being Binance's support for the Foundation's Project Atlas.

According to CoinMarketCap, at the time of the press, Tron was trading at $ 0.0221 with a market capitalization of $ 1.47 billion. The cryptocurrency has a trading volume of $ 187.87 million and has increased by more than 9% in the last 24 hours.

1 hour

Tron hourly price chart | Source: trading view

In the one-hour chart, cryptocurrency shows a downtrend from $ 0.0239 to $ 0.0228. The currency records three main uptrend trends, from $ 0.0183 to $ 0.0191, from $ 0.0192 to $ 0.0204, and a steep final climb from $ 0.0207 to $ 0.0224.

The immediate resistance for the currency is $ 0.0228 and the strong resistance is $ 0.0239. The cryptocurrency found immediate support at $ 0.0204 and its strong support at $ 0.0182.

Bollinger bands is proving that bullfighting will intensify as the bands have begun to make room for a volatile market.

Parabolic SAR It is positioned to also enjoy the race, as the dots are lined up under the candelabras.

Chaikin cash flow is showing its support for an ecological market when money has started to flow into the market.

1 day

Tron day price chart | Source: trading view

The one-day chart shows a downtrend from $ 0.0390 to $ 0.0219. The first uptrend is recorded from $ 0.0119 to $ 0.0129 and the second from $ 0.0133 and ends at $ 0.0193. The cryptocurrency shows that the point of immediate resistance for the bull is at $ 0.0247 and the strong resistance is at $ 0.0270. The immediate support level for the currency is $ 0.0186 and the strong support is $ 0.0118.

MACD he is predicting that the bull race will last longer while the moving average line has made a crossover to take the upward direction.

Klinger Oscillator is currently showing a bullish wave. However, the reading line and the signal line are on the edge of another crossover at the time of printing.

RSI is showing that buying pressure and selling pressure are uniform in the market.

Conclusion

The cryptocurrency is ready for an upward run and is supported by most of the indicators. This includes Parabolic SAR and CMF from an hourly chart and MACD and Klinger Oscillator from the one day chart.

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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.