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Price Analysis

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.

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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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