Tron [TRX/USD] Technical analysis: Cryptocurrency sinks into the bear reserve

The volatility of the cryptocurrency market seems to have calmed down in the last 24 hours as the prices of digital assets have shown only insignificant variations. The best gainer in the list remains Stellar [XLM], with an increase of 4% since yesterday, 11 November. Bitcoin Cash [BCH], which dominated the market in the last two weeks, was surprisingly the biggest loser in the top 10 coins with a decline rate of 6.87%.

Tron [TRX] has maintained its eleventh position for a month, without many variations in its price. At the time of writing, TRX was trading at $ 0.022, with a market capitalization of $ 1.46 billion.

1 hour:

Source: trading view

The table of a Tron time [TRX] shows a downward trend from $ 0.024 to $ 0.023. Furthermore, we can see that there is a resistance level at $ 0.022 and a support level set at $ 0.024.

The Impressive indicator describes that the short-term momentum is falling faster than the long-term momentum, representing a downward sales opportunity.

The Klinger Oscillator he also took a bearish crossover and continues to move down along with the signal line.

The Chaikin cash flow indicates a continuous sales price in this timeline, however, it seems that it is moving towards the zero line gradually.

1 day:

Source: trading view

Tron's one-day chart [TRX] shows a downward trend extending from $ 0.038 to $ 0.023. It also has a long-term support point set at $ 0.018.

The RSI the index was reported to the oversold territory on 7 November and is currently below the neutral level, which represents a bearish market.

The MACD showed a slight bearish crossover in the last 24 hours. The MACD line has begun to move below the flattened histogram, which represents the potential for a fall in prices in the future.

The Aroon indicator it also shows a downward trend in this timeline. The Aroon Up and Aroon Down lines are moving towards the lowest point and the trend is in favor of a stronger downtrend.

Conclusion

The price of cryptocurrency should be high towards the bearish end, with most indicators showing the same. Under all times, the indicators are showing a fall in the market value of TRX.

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Laira is a full-time writer at AMBCrypto. She is a degree in Computer Science and has about 1 year of writing experience. His enthusiasm and his keen interest in the development of his knowledge on blockchain and cryptocurrency have led her to become part of AMBCrypto. At the moment it has no value in cryptocurrency or in its projects.