Market Analysis

Tron [TRX/USD] Technical Analysis: Bulls seem to take over the bear’s red pastures

from Amb Crypto 5 years ago 0 0 655

The market has been changing the sides, putting the crypto investors in dilemma. One of the coins suffering the burn of the market’s volatility is Tron [TRX]. However, at the time of press the coin is seen to be shifting to the bull’s side.

According to CoinMarketCap, at press time, Tron was trading at $0.0143, with a market cap of $951 million. The coin has a trading volume of $61 million and has plunged by 4.07% in the past 24 hours.

The coin has shown a downtrend from $0.0166 to $0.0156 and it further goes down to $0.0153. The coin also shows an uptrend from $0.0118 to $0.0141. It has an immediate resistance at $0.0153. Another strong resistance point for the coin was seen at $0.0156. The coin had an immediate support at $0.0141 and another strong support at 0.0139.

Bollinger Band are seen to be moving away from each other, indicating an increase in the volatility in the prices. The candle sticks appear to be under the moving average forecasting a bearish market.

Awesome Oscillator is appearing to be green, hinting towards a bullish market.