- 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
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.
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.
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.