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Tron [TRX] was one of the largest cryptocurrencies that has not seen a sharp increase in recent days even though many of the top ten cryptocurrencies have seen red in the market. Tron's founder and CEO, Justin Sun, has been at the forefront of the company's development announcements that have come in the wake of sideways prices.
1 hour:
The Tron chart of an hour shows the prices that fall from a peak reached a few days ago. The visible rise that led to the formation of the peak saw prices rise from $ 0.0232 to $ 0.0247. The downward trend that followed after led prices to fall from $ 0.0248 to $ 0.0229. Support for cryptocurrency reached $ 0.0223 while immediate resistance was $ 0.0248.
The Bollinger bands I am at the beginning of a divergence, which indicates an immediate break. The Bollinger clouds were also sporadic due to the lack of major price movements.
The Chaikin cash flow [CMF] it rebounded on the axis, which is a bullish signal. The rebound also indicates that the money started to return to the market after the chart crashed recently.
1 day:
Tron's race in recent months has seen cryptocurrency prices fall from peak in the summer. The downward trend of cryptocurrency has led to a fall in prices from $ 0.0390 to $ 0.0247. Tron's support reached $ 0.018.
The Parabolic SAR it was predominantly bearish, with most of the markers remaining above the price candles. The month of November was not good with the cryptocurrency, with the fall in prices that surpassed price increases.
The Relative strength index [RSI] it is tending to the oversold area. This shows that the selling pressure is more than the buying pressure. The decline also coincides with the number of buy-in reduction.
Conclusion
The price movement sustained by Tron seems destined to continue, with the market that is not yet preparing for a price rise. The RSI, Parabolic SAR and Bollinger bands indicate that prices will continue to move sideways, interspersed with price drops.
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