Tron Price Analysis

Tron Price Analysis: TRX Crypto Consolidation Still Consolidating as It Stumbles to Maintain Bullish Race!

  • Tron price is trying to maintain above $0.060 after a bullish rally on the daily price chart.
  • TRX crypto is trading above the 20 EMA but has fallen below the 50, 100 and 200 day daily moving average.
  • TRX/BTC pair at 0.000003197 BTC with an intraday gain of 0.19%.

Over the course of a day, there were several major changes to the price of the Tron. The cryptocurrency initially entered a bearish channel on the daily chart before attempting to change its course within an adjacent ascending channel. Then, when TRX entered a pattern known as a round bottom, another correction occurred. The token experienced a great rollercoaster ride at this time. TRX coin is currently trying to hold its upper band as the token is looking for support at a higher level during the consolidation phase.

Tron’s market capitalization is up 0.07% from yesterday, reaching $0.06242 (CMP). Over the course of the day, there were 21.73% fewer transactions. This shows that the bears are making an effort to rally to watch the token collapse. The volume to market capitalization ratio is 0.03978.

TRX coin price is struggling to break out of the range bound area on the daily price chart. With the aim of violating the growing trend of the value of the token, the token. A single TRX unit always costs between $0.058 and $0.065 on average. To move TRX out of range, the scaling needs to be larger than usual. Bears may reject direction, which may cause the token to go in a different direction.

What do technical indicators suggest about TRX?

On the daily price chart, TRX is rising near the upper trend line of the consolidation phase. To break out of the range bound area, the cryptocurrency must move aggressively to the upside. Technical signs show that the currency is moving sideways.

The RSI shows how strong the sideways TRX movement is. At 55, the RSI is neutral and heading towards the overbought territory. On the MACD, the positive momentum of TRX is clear. The MACD line is rising above the signal line after a positive crossover. TRX investors should monitor the daily chart for any changes in trend.

conclusion

Over the course of a day, there were several major changes to the price of the Tron. The cryptocurrency initially entered a bearish channel on the daily chart before attempting to change its course within an adjacent ascending channel. Then, when TRX entered a pattern known as a round bottom, another correction occurred. The token experienced a great rollercoaster ride at this time. To move TRX out of range, the scaling needs to be larger than usual. Bears may reject direction, which may cause the token to go in a different direction. Technical signs show that the currency is moving sideways.

technical levels

Support Levels: $0.058 and $0.055

Resistance Levels: $0.062 and $0.065

disclaimer

The views and opinions expressed by the author, or anyone named in this article, are for informational ideas only, and do not constitute financial, investment or other advice. Investing or trading in crypto assets carries the risk of financial loss.

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#Tron #Price #Analysis #TRX #Crypto #Consolidation #Consolidating #Stumbles #Maintain #Bullish #Race

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