Price Analysis

TRON Exhibits Intraday Corrections; Gains Pace & Trades at $0.022

  • TRON (TRX), at the time of writing the article, was trading at $0.0224, after having bottomed out at $0.0201, yesterday
  • TRX/USD broke below the 90-day high price as there happens to be a “death crossover” and 200-day MA crosses above 50-day MA, on a half-hourly chart
  • The 20-day Bollinger Bands project no volatility in the upcoming days
  • However, we see a steep fall if looked collectively over the past 18 days, which has led the price to fall below 38.20% Fib Retracement Level

TRON price is on a continual downswing after hitting a fresh 90-day high at $0.0268 to marking a regression of over 24% in just three days and hitting bottom at $0.0201.

TRON Price Analysis

Tron (TRX) Price News
TRX/USD Chart By TradingView

Analyzing the 2-hourly movement, we see that the TRX coin had a rising trend until the mid of the ongoing month, just when the bears became stronger. The free fall experienced in the past 5 days has led the TRON price to test support at $0.0201. Currently, the coin is seen trading with a slight momentum as it makes an intraday positive correction at $0.0224.

Tron News

Taking a more emphasized view of the price trend over the past 4 days, since when the TRX coin is experiencing a fall and has also drawn a bearish crossover as the 200-day, MA crosses above 50-day MA. Also, the 20-day Bollinger Bands laid show a moderate opening and therefore, we do not project any unpredictable volatility in the upcoming days.

The MACD of Tron is holding a slight bullish divergence as it corrects upwards above the weekly bottom marked at $0.020.

Similarly, the RSI of the coin is seen rising at 56.14 towards the overbought zone, as the intraday positive corrections have led the price of TRX to gain pace.

Tags

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.
Back to top button
Close