Tron Price Analysis: Tron (TRX) Coin Slips Below the Baseline with an Upsetting Downtrend

Just when Tron coin was slightly improving with the intraday movement yesterday, it has again reflected a downtrend today. Important to note that TRX price needs to have an upper swing in the oscillation in order to trade beyond $0.020 persistently. Tron continues to remain around $0.017; the similar price mark just as yesterday. With no major difference in the trading price, we expect to have a flat movement throughout the day.

Yesterday the coin had a slight change of 1.12% as the coin opened at $0.0178 and closed at $0.0180.

TRX to USD Price Chart by TradingView:

The below chart is a data feed from Bittrex as on 20th August at 09:48 UTC.

Tron Price Prediction
TRX Price Chart by TradingView

TRX Price Comparison:

As observed from the above chart, it is well observant that the coin is exhibiting a slow downtrend since the start of the day, today. The Tron coin has slipped by 2.77% from $0.0180 and is currently trading at $0.01750. The coin has been trading in the range of $0.0176 to $0.0181 since the past 24 hours. With a slight variation in the range of 1.2% to 2.7%, the coin is currently ranked at the 14th position in the global market. The TRX coin has reached as high as $0.040 in the past 90 days and has enough potential to perform superficially in the upcoming duration as well.

Technical Indicators:

The TRX coin’s current trading price is 4.89% and 5.14% less than its 10-day EMA ($0.018431) and 10-day SMA ($0.018449) respectively. The Simple Moving Average (SMA) of the Tron price lies slightly above its EMA which shows a short-term bearish crossover.

The MACD of the coin also exhibits a bearish nature as the signal line crosses the MACD line.

The RSI of the TRON price has slightly rose from its oversold region and is fairly above 30 at present. Therefore, according to our TRON TRX Price Prediction, it seems that the coin might be in the same condition for few days.

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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