- TRON (TRX) is currently trading at $0.074002 with a decline of 0.94% in the last 24 hours.
- The TRON price is observing an increase of 6.55% in the last 7 days.
- The TRX market capitalization is $6710081643.
By evaluating the price data of the TRX coin, it is in a downtrend currently. The price inclined by 6.55% in the last seven days and we can say that TRON performed well last week. From its peak price of $0.231673, it fell -68.04% in the last 2 years. The coin demolished the investor’s wealth majorly. The current market sentiments are not good about the coin. No huge volume is present in TRON. As of now, there are no buyers interested in buying the coin. There is bearish dominance in the market.
TRON (TRX) Technical Analysis
The price of TRON (TRX) has slipped above 50 and 200 EMA, which suggests that the price is entering a bullish trend. If the buyers continue to push the price up, the coin’s value may grow even further in the upcoming week. A golden cross has also noticed in the chart between 50-day and 200-day EMA.
The technical indicator MACD is also in negative territory. The MACD line at -0.00029533 and signal line at -0.00059063 is below the zero line, suggesting that the MACD is giving bearish signals.
The current value of RSI is 54.21 points. The 14 SMA line is currently below the median line, around 45.87 points which show bearish sentiment in the market. The bearish trend is indicated by the 14-day SMA line below the median line. As the price is in oversold territory, the price is currently heading toward the overbought territory.
The price has respected its significant trendline support, and is heading for resistance. As soon as the price breaks the trendline, then it will rise to the next resistance and if it gets rejected by the resistance, then it will fall back to the current support.
TRON (TRX)’s trading volume of 24 hours is $247218290, with a -1.60% increase in volume in the last 24 hours. There is a significant boost in the volume of the coin.
- Support – The current support level of TRX is $0.057.
- Resistance –The current resistance level of TRX is $0.073.
TRX is facing consolidation between a range. The price action suggests that the price may fall more in the upcoming days if it breaks its primary trendline support level. TRX price shows a neutral scenario at the moment. Major reliable indicators like RSI, and MACD give negative signals about the TRON coin while EMA gives positive signals. Fear is developed around the investors because of the adverse performance of the coin. TRON is trying to recover right now.
The analysis given in this article is for informational and educational use only. Do not take this information as financial or trading advice. Trading and investing contain financial risk. Before making any investment or trading decision, please consider your risk profile and circumstances.