Tron [TRX/USD] Technical analysis: the race to the bull will be held soon

Tron [TRX], the eleventh largest cryptocurrency by market capitalization, continues to be in the spotlight because of its progress. Recently he has attracted the attention of the community, overcoming Monero for the second time in terms of market capitalization. Moreover, Tron has recently exceeded 2 million marks in terms of daily transactions, confirming its claim to overcome Ethereum [ETH] the future.

According to CoinMarketCap, at the time of the press, Tron traded at $ 0.0144 with a market capitalization of $ 956.03 million. The currency has a volume of trade and has seen an increase of 25.28% over the last seven days.

A & # 39; now:

Tron [TRX] price chart of a & # 39; hour | Source: trading view

In the one-hour chart, cryptocurrency shows a downtrend from $ 0.0166 to $ 0.0156. Also show another fall from $ 0.0146 to $ 0.0139. The currency records an uptrend from $ 0.0116 to $ 0.0137. The immediate resistance for the twelfth largest cryptocurrency is set at $ 0.0140 and strong resistance has found its base at $ 0.0156. The currency found its support level at $ 0.0114.

Parabolic SAR He began to move away from the company of the bull and took his steps to make amends with the bear, as the points began to line up over the chandeliers.

Bollinger bands they are expecting a less volatile cryptocurrency market as the bands started to contract.

Chaikin cash flow is proving that money has started to pour into the money market, indicating an upward trend.

One day:

Tron [TRX] price chart of a day | Source: trading view

In the one-day chart, the currency has a downward trend from $ 0.0498 to $ 0.0247. Imagine also another steep fall from $ 0.0185 to $ 0.0119. The currency has immediate resistance at $ 0.0158 and a strong resistance at $ 0.0247. Support for the currency is set at $ 0.0118.

Klinger Oscillator It is on the bull's side of the market as the reading line has made a crossover just to take the direction north.

MACD also has on the same path as the moving average line has done a bullish crossover.

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

Conclusion:

The bull is ready for the race with the support of Klinger Oscillator and MACD from the one-day chart and CMF from the chart of an hour. The bear also in the field with the support of Parabolic SAR from the chart of an hour.

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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.