Tron [TRX/USD] Technical analysis: the savings boom takes a break fighting the bears

Tron, the ninth largest cryptocurrency has performed better than any other cryptocurrency even in the brutal bear market. The price of TRX at the time of writing was $ 0.0252 with a market capitalization of $ 1.68 billion.

The 24 hour trading volume for Tron is $ 313 million and most of it is provided by the Korean exchange, Upbit via the TRX / KRW commercial pair. The margin contributes a total of 13.17%. Below is Binance which contributes a total of about 24% through the exchange pairs TRX / USDT and TRX / BTC.

1 hour

Source: TradingView

The diagram of an hour shows an upward trend going from $ 0.0215 to $ 0.0254 while the downward trend extends from $ 0.0328 to $ 0.02566. TRX rebounded on the support at $ 0.0212 which was created by falling prices on January 13, 2019. The strength points for TRX in the shortest period of time can be seen at $ 0.0267 and $ 0.0328.

The Parabolic SAR markers created above the price candles, indicating a downward pressure for prices.

The MACD indicator it also indicates the same tendency, ie a downward downward crossover. The histogram has moved to the red bars below the zero line.

The Awesome Oscillator shows by decreasing the red bars approaching the zero line indicating that prices are falling steadily.

1 day

Source: TradingView

The uptrend in one day shows that it ranges from $ 0.0132 to $ 0.0215 while the downtrend ranges from $ 0.0725 to $ 0.0287. Prices are supported at $ 0.0120 but resistance points are seen at $ 0.0268 and $ 0.0496. The former resistance point was violated on January 8, 2019.

The Aroon the indicator shows a prevalent upward trend as indicated by the Aroon green line. The red line Aroon reached the zero line indicating that the downward trend has been exhausted.

The Chaikin cash flow shows that the money is coming out of the market and that the sellers are dominating the Tron market.

The Relative strength index shows the same CMF of how much the RSI seems to be stuck in the middle, indicating that the momentum of purchase and the sales momentum for the markets of Tron are balanced.

Conclusion

The graph of an hour for TRX is nothing but bearish indicated by SAR, MACD and AO indicators. The one-day interval also shows a downward trend, with the Aroon, RSI and CMF indicators.

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Akash is your usual Mechie with an unusual interest in encryption and day trading, ergo, a full-time AMBCrypto journalist. He holds XRP because of peer pressure, but otherwise he found the day of trading with what little capital he owns.