Currently, Tron holds the eighth rank in terms of market cap and is just below the stable coin Tether [USDT]. The 24-hour trade volume of Tron is at $127 million and 13.34% of the trading volume comes from HitBTC exchange through the trade pair TRX/USDT.
1-hour
There is no uptrend being formed yet as the trend is heading down, so the downtrend for Tron extends from $0.0287 to $0.0245, with prices breaching the support at $0.02544. The resistance point is at $0.0283 since the first week of February but the prices have since moved away from it.
The Parabolic SAR markers are seen forming above the price candles, indicating a bearish trend for the prices on Tron.
The MACD indicator also indicates a bearish trend as there is the formation of bearish crossover, which is below the zero-line and is headed straight downwards.
The Awesome Oscillator shows a decreasing momentum for prices as the bars formed are in red and are below the zero-line.
1-day
The uptrend for Tron in the one-day extends from $0.0129 to $0.02539 while the downtrend ranges from $0.0498 to $0.00284. The support at $0.0119 has been holding the Tron prices pretty solid since late November 2018. The resistance line at $0.0267 was breached briefly for a few weeks, but the prices have dipped below it again. The subsequent resistance point at $0.0396 is holding alright.
The MACD line, in the larger time-frame, is also undergoing a bearish crossover towards the downside. The histogram accurately represents the same with red bars that have developed over the zero-line.
The Stochastic indicator has dipped below the oversold range, indicating a bearish downtrend here as well.
The Chaikin Money Flow indicates that money ]flowing into Tron is very less, indicating that the sellers are dominating the market.
Conclusion
The one-hour chart for Tron shows a bearish downtrend as indicated by SAR, MACD, and Awesome Oscillator. The one-day chart shows a bearish overall trend as indicated by MACD, Stochastic and CMF indicators.
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