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Tron [TRX/USD] Technical Analysis: Cryptocurrency struggles to escape red zone

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Tron [TRX], now the tenth-largest cryptocurrency after taking over IOHK’s Cardano [ADA] is currently running the tough miles to escape the red capes.

At press time, the token had slumped by 5.9%, trading at $0.013 with a market cap of $903.9 million. The total trading volume in the past 24 hours is observed at $70.3 million.

1-hour:

TRXUSD 1-hour candlesticks | Source: tradingview

TRXUSD 1-hour candlesticks | Source: tradingview

In the 1-hour time frame, the TRX candlesticks are experiencing a slight downtrend that ranges from $0.016 to $0.015. Here, the uptrend is steeper than the downtrend and is extending from $0.018 to $0.013. There is no major possibility of a trend breakout at this point.

The Parabolic SAR has turned its back on a positive price prediction as the dots have switched sides to lay above the candlesticks, pushing the price down.

The Relative Vigor Index is also bearish on the case as the RVGI continues to slump after making a bearish crossover by the signal.

The Aroon indicator has denied suggesting the fate of Tron as the uptrend and the downtrend continue to move in sync on the graph.

1-day:

TRXUSD 1-day candlesticks | Source: tradingview

TRXUSD 1-day candlesticks | Source: tradingview

In the longer timeline of 1-day, the price candles are witnessing a downtrend that is suspended from $0.039 to $0.024. Here, the support level is set at $0.018. Similar to the above case, there is no possibility of a trend breakout here as well.

The Bollinger Bands are showing a lower volatility in the TRX price, narrowing down the tunnel path that was being followed earlier.

The RSI crashed to the oversold zone in the last week of November. However, it managed to pick itself up but is again approaching the same road to predict a bearish presence in Tron’s quest.

The Klinger Oscillator made a bullish crossover in its last run by the signal. However, the indicator is moving below the 0-line to side with the bear. However, the stance cannot be confirmed as the reading line has not made a bearish crossover as of now.

Conclusion:

Most of the indicators in this technical analysis have turned bearish on the Tron market with downward crossovers and slumped graphs. Furthermore, the Bollinger Bands have predicted a lowered volatility in the market, strengthening the bear’s foot in the space.

Source.ambcrypto

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Tron Price Begins Moving up yet Traders Expected More

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With the weekend almost upon the cryptocurrency industry, bullish momentum is in high demand. Not all of the currencies in the top 50 will be able to mount any noteworthy surge right away. As far as the Tron price is concerned, it would appear there is some upward pressure brewing. Although these gains are not massive by any means, it would appear things are heading in the right direction.

Tron Price Tries to Turn Bullish

It is only normal most alternative markets will try to mimic Bitcoin’s momentum when the overall sentiment resumes a minor bullish trend. In the case of Tron, the reliance on Bitcoin has been less apparent as of late, which is a promising first and foremost. Although Tron is also gaining on Bitcoin itself, it would appear the USD value of TRX may continue to improve for quite some time to come.

Over the past 24 hours, there has been a notable 3.4% increase in Tron’s USD and BTC value alike. Because of this minor change, the Tron price currently sits at $0.0244, or 674 Satoshi. There is a long way to go before reclaiming the 800 Satoshi level, but the coming days may offer some promising sentiment in this regard. Combined with a rather healthy overall trading volume, it would appear the Tron price is in a very good place as of right now.

Although there haven’t been any major developments in terms of Tron, there is a new YouTube video which can effectively educate the masses on why Tron could be a project worth keeping an eye on. As is usually the case, videos trying to get more people to invest in a specific cryptocurrency need to be taken with a grain of salt. However, there appears to be some good information in the video.

An absolute MUST WATCH for anyone interested or wants to know more about #TRON.@justinsuntron @Tronfoundation @beatzcoin@mishalederman@MrGordon_UK #IAmDecentralizedhttps://www.youtube.com/watch?v=8-ay1tNBvbE&feature=youtu.be 

For those who are wondering what the actual price chart has to offer, it is quite evident the market can easily head north or south from here on out. That in itself can make some speculators a bit uneasy first and foremost, although one has to keep in mind a lot of people seemingly expect a bullish breakout. Even a 1% gain over the weekend can be considered somewhat bullish, though.

View image on Twitter

View image on Twitter

Paul W Baldwin would like to see the Tron community put in a bit more effort when it comes to helping the price move along. A call to arms usually backfires in the crypto world, which makes this message all the more interesting. It appears some holders are desperate for an uptrend, even though long-term growth needs to be the number one priority at all times.  Short-term profits are not in the best interest of most TRX holders.

Hey Tron community,,#TRX Need’s some help getting Past this resistance, how about giving it a little Push

All of these factors seem to indicate the current TRX momentum is firmly in place, although it may not necessarily yield any further gains from here on out. However, with the weekend just around the corner, it would appear some interesting momentum might be shaping up across the industry as a whole. Fridays are never a genuine trading indicator for the coming days, though.

Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.

 

Source:nulltx

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Tron

Tron [TRX/USD] Price Analysis: Token fails to climb the price ladder as updates increase

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The cryptocurrency market’s rollercoaster has been going on for some time now, with users and investors bracing for an attack by the bear. These price downtrends have not been exclusive to just some cryptocurrencies but, have had a widespread effect across the entire market. Popular coins like Bitcoin [BTC], Ethereum [ETH] and Tron [TRX] have all succumbed to the bear’s prowess with emphasis on the support breaks.

1-hour

Source: Trading View

Source: TradingView

After starting the year off with price hikes, Tron has fallen prey to the bear, with the downtrend becoming more and more significant. The visible downtrend resulted in the prices dropping from $0.0277 to $0.0242 while the support has been holding at $0.0236. The immediate resistance is at $0.0277.

The Parabolic SAR has been a mix of bearish and bullish signals, with the bear having a slight edge over the bull. This is evidenced by the markers staying above the price candles.

The Awesome Oscillator for Tron has fared better than other cryptocurrencies, with the amplitude still remaining significant. The AO still points to the fact that the market momentum has decreased considerably over time.

1-day

Tron’s one-day graph paints the opposite picture to that of the one-hour graph, with the uptrend standing out. The rise lifted the prices from $0.0126 to $0.0236 while the long-term support is at $0.0117.

The Relative Strength Index has started falling towards the oversold zone after staying closer to the overbought zone earlier. The hold near the oversold zone is a sign of the selling pressure being more than the buying pressure.

The Chaikin Money Flow indicator has crashed way below the zero-line. This suggests that more capital is leaving the market, than coming in.

Conclusion

The above-mentioned indicators all point to the rampant pressure by the bear on the cryptocurrency market. Tron’s user base has been vying for a ‘moon’ spike on the back of several updates and developments, something that the cryptocurrency market’s behavior is yet to provide.

Source. ambcrypto

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Tron

Tron Price Begins Moving up yet Traders Expected More

Published

on

With the weekend almost upon the cryptocurrency industry, bullish momentum is in high demand. Not all of the currencies in the top 50 will be able to mount any noteworthy surge right away. As far as the Tron price is concerned, it would appear there is some upward pressure brewing. Although these gains are not massive by any means, it would appear things are heading in the right direction.

TRON PRICE TRIES TO TURN BULLISH

It is only normal most alternative markets will try to mimic Bitcoin’s momentum when the overall sentiment resumes a minor bullish trend. In the case of Tron, the reliance on Bitcoin has been less apparent as of late, which is a promising first and foremost. Although Tron is also gaining on Bitcoin itself, it would appear the USD value of TRX may continue to improve for quite some time to come.

Over the past 24 hours, there has been a notable 3.4% increase in Tron’s USD and BTC value alike. Because of this minor change, the Tron price currently sits at $0.0244, or 674 Satoshi. There is a long way to go before reclaiming the 800 Satoshi level, but the coming days may offer some promising sentiment in this regard. Combined with a rather healthy overall trading volume, it would appear the Tron price is in a very good place as of right now.

Although there haven’t been any major developments in terms of Tron, there is a new YouTube video which can effectively educate the masses on why Tron could be a project worth keeping an eye on. As is usually the case, videos trying to get more people to invest in a specific cryptocurrency need to be taken with a grain of salt. However, there appears to be some good information in the video.

For those who are wondering what the actual price chart has to offer, it is quite evident the market can easily head north or south from here on out. That in itself can make some speculators a bit uneasy first and foremost, although one has to keep in mind a lot of people seemingly expect a bullish breakout. Even a 1% gain over the weekend can be considered somewhat bullish, though.

Paul W Baldwin would like to see the Tron community put in a bit more effort when it comes to helping the price move along. A call to arms usually backfires in the crypto world, which makes this message all the more interesting. It appears some holders are desperate for an uptrend, even though long-term growth needs to be the number one priority at all times.  Short-term profits are not in the best interest of most TRX holders.

All of these factors seem to indicate the current TRX momentum is firmly in place, although it may not necessarily yield any further gains from here on out. However, with the weekend just around the corner, it would appear some interesting momentum might be shaping up across the industry as a whole. Fridays are never a genuine trading indicator for the coming days, though.

Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.

 

News Source: themerkle

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