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.
