Tron [TRX]: Strong Buyers’ Sentiment Remains Intact As The Altcoin Booms

The bulls had found a way back into the crypto market. Justin Sun’s Tron [TRX] was seen spearheading this with a 17% surge in its price in just the last 24-hours. At the time of writing, TRX was trading for $0.064. The asset had a hard time moving past $0.05, however, the last week helped the coin move beyond this number. The market cap of the altcoin witnessed a major downfall over the last couple of months. Just when new coins started emerging with regard to market cap, TRX slumped down to the 25th position. During press time, TRX’s market cap was noted at $4.61 billion.

All the other cryptocurrencies were riding the bulls. Bitcoin [BTC] was seen trying to get back over $60K. The overall market cap of the industry was at a high of $1.83 trillion. Additionally, BTC was raging to a high of $1.10 trillion.

Tron [TRX] One-Hour Price Chart On Binance

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The short-term price chart of TRX was exhibiting signs of bears. The Awesome Oscillator indicator was rolling out red closing bars further instigating the presence of the bears in the TRX market. The Relative Strength Index was seen on a parabolic momentum. The altcoin was being overbought, the Relative Strength Index indicator announced.

While this could stagger the growth of the asset, the long term price chart restored hope in the market.

Tron [TRX] One-Day Price Chart On Binance

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The one-day price chart of Justin Sun’s coin suggested that the bulls were dancing in the market. The Parabolic SAR indicator laid out dotted lines down below the candlesticks exerting a bullish sentiment as these lines stood as a line of support. The Chaikin Money Flow indicator was above zero which again revealed that the bulls were in the TRX market.

The Money Flow Index indicator was noted in the buyers’ arena. These signs could help the altcoin reach a high.

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