TRON (TRX) Accumulates and Draws a Flat Trend; Trades at $0.0267
At the time of writing this analysis, TRON price was seen trading around $0.0268 after a slight bullish crossover seen in the intraday yet fails to breach 61.80% fib level. TRX, just like any other lucrative altcoin of the market, was seen rising from the YTD bottom marked at $0.0085 and was seen drawing a subtle uptrend right after. However, the volatile crossover in the global crypto market has led to an accumulative and flattish trend with intermittent dips and rise.
TRON Price Analysis
Today, at the press time, TRX price was seen trading at $0.0268 with a brief bullish candlewick that is yet to breach 61.80% fib retracement level on a 5-hourly chart against the US Dollar. Although drawing an uptrend and hitting a fresh YTD high at $0.0495, TRON has lost a substantial amount from the high to the current trading price. On the daily chart, the currency fails to hold 200-day MA while still retains 50-day MA daily support at $0.0202.
The Bollinger Bands are seen squeezing. Therefore, as per TRON prediction, we predict breakout soon with a near-term positive sentiment as the market’s largest cryptocurrency is certainly drawing a bullish sentiment.
The MACD indicator holds a slight bullish divergence due to the intraday price rise of TRX against the greenback but is away from drawing a complete bullish crossover due to lack of steep or notable price rise in the short-term. The RSI lies at 51.54 and holds no trading extremities.