Price Analysis

TRON Exhibits an Intraday Hike of Over 20%; Hits a Fresh 90-day High

  • TRX coin exhibits an up-trending momentum since the start of the year as it gains the required pace and support
  • Moreover, the intraday movement has helped the TRON coin to gain over 20% as it currently trades at $0.0233
  • The steep rise that happened yesterday is projecting towards near-term volatility which confirmed by the 20-day Bollinger Bands
  • The utmost support awaits at $0.0219 by the 10-day daily Moving Average
  • Selling pressure disappears, and the RSI of the coin lies at 79.13

TRX, just like Bitcoin and other altcoins, is seen making a powerful comeback after having a despairing end to the previous year. The current pace is likely to stay, and as we foresee a growing trend over a certain period due to real-time support.

TRON Price Analysis

Tron Price News
TRX/USD chart by TradingView

Taking a glance at 4-hourly TRX/USD price movement on Binance, we see that the currency is hitting above the upper 20-day Bollinger Band with an expanded width of bands, hinting towards upcoming volatility. TRON cryptocurrency is on a continual upswing as it is rightly supported by the daily moving averages, and the 200-day MA is lying below the lower Bollinger Band, providing support at $0.0169. The intraday positive crossover has been quite a need of the hour which has rightly hit all the resistances and manifests a fresh 90-day high.

Tron News

Aligning the cumulative growth with the intraday growth, we see a steep rise and an uptrend forming as the coin trades from the low of $0.0196 to an intraday high at $0.0237 and beyond.

Technicals

The MACD of TRON is overriding the signal line as it cuts the signal when the price hit a fresh 90-day high and exhibited over 20% intraday growth.

The RSI of TRX coin is at 79.13 and is fluctuating in the overbought region due to an intraday hike.

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Mehak Punjabi

Mehak Punjabi is a post graduate in MBA with specialization in Finance and has joined CryptonewsZ with a skill building view in the world of cryptocurrency and blockchain. She is dynamic and a quick learner with a hold on financial analysis.

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