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Price Analysis

Tron Price Analysis: Tron Coin Attempts to Pull Out of the Selling Pressure With its Intraday Movement

  • Tron tries to take giant leaps and therefore trades with a slight uptrend today.
  • TRX tries to grow from the tough time it had in the past five days.
  • TRX price drops by 20% from $0.020 to $0.016 in a week.

Tron coin tries to near $0.020 after trading as low as $0.016. Although, the weekly, 1 month and YTD time frame appears to be bearish. It is just the intraday movement that looks a bit appealing and may help gain the traders. But Tron has a lot of potential as the founder and CEO Justin Sun has been constantly giving out details of his grand plans. With this Tron price is expected to retain its position back in the market.

TRX to USD Price Chart by TradingView:

The below chart is a data feed from Bitfinex as on 19th August at 06:29 UTC.

Tron Price Prediction
TRX Price Chart by TradingView

TRX to USD Price Comparison:

Tron coin is currently ranked amongst the top 15 cryptocurrencies in the global market. Although, Tron has slipped from its ranking on the 10th position and since then the TRX coin and the foundation is making sincere efforts to retain the same soon.

As observed from the above 1-day chart, Tron price is currently exhibiting efforts to position in the better trading zone pulling out of the selling pressure. But the weekly, monthly and YTD trading scenario remains bearish overall. When compared, yesterday Tron coin was trading at $0.016 around 04:30 UTC. On the same day, around 16:30 UTC the TRX coin grew by 9.23%, trading at $0.01833. Today, the coin has been exhibiting a flattening trend and currently trades at $0.01787, which is midway value as compared to the lowest and the highest in the said time frame. The current price is 6.49% more and 2.50% less than the respective low and high price.

Technical Indicators:

The current trading price is 4.47% and 16.71% less than the 10-day SMA ($0.018708) and 30-day SMA ($0.021456) of the coin. The TRX coin remains under the selling pressure as per the said movement.

The MACD of the coin appears to be bearish as well as the coin had a bearish divergence with signal line crossing the MACD line.

The RSI of the coin is below 50 but remains within the range and does not exhibit any extremity as to being overbought or oversold.

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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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