TRON’s Intraday Remains Bearish Below $0.025
TRON—the most developing blockchain in the crypto ecosystem is marking staggering week-by-week milestones and has already surpassed a total of 8 million accounts on the network. It was just in the previous week when JustSwap was launched on TRON with a trading volume of around 10.5 million on the 1st day of its launch. The achievement of the network is commendable and is ranked in the 6th position in the world.
#TRONchievement Aug 17- Aug 21
✅#JustSwap launched on #TRON
✅Total number of accounts on TRON has surpassed 8M
✅Trading volume of #JUSTSwap is 10.5M in the 1st day of launch, No.6 in the world#TRX $TRX #JUST $JST pic.twitter.com/CuBsiIrtzM— Justin Sun (@justinsuntron) August 25, 2020
The weekly milestones are drawing a clear picture towards the goal of the network, and the native token TRX has been an illustrious performer amongst the top 15 cryptos of the market.
TRON Price Analysis
TRX/USD breaks a 2-year long downtrend on the weekly chart as it trades above $0.030. Can this be the beginning of a fresh bullish era for TRX coin after trading sideways over the past two years? Over the said period, TRON has hit the lowest at $0.0064 during the major sell-off in March due to the ongoing Pandemic. In this regard, TRX has startlingly strengthened by approximately 400% in 5 months from March 2020.
TRON has drawn a clear uptrend against the US Dollar after marking the lowest at $0.0064, while a steep rise from 50.0% Fib level i.e., $0.195, has taken the price trend to breach the major resistance above $0.030. It was just in the ongoing month when TRX coin hit a yearly high at $0.032, but due to intraday pullback, it is consolidated below $0.025 at $0.023 on the above 24-hour chart.
With this, the other two technicals laid are drawing a bearish crossover as the signal line crosses above the MACD line after correction below $0.030. The RSI of the TRON has also pulled back from above to 70 to currently at 49.51 due to a shift in demand. According to TRX price prediction an the current momentum, the coin might face donside correction in the upcoming days. According to TRX price prediction an the current momentum, the coin might face donside correction in the upcoming days.
