TRON (TRX) Price Analysis: TRX Struggling To Maintain Sustainable Prices

Vasu Singhal
Vasu Singhal is a management student and a stock market trader. He believes that investment avenues and opportunities are very diversified. Therefore, he has an interest in blockchain technology too. He likes to evaluate best investments available in the financial market with showcasing the required skills.
  • The Chinese cryptocurrency is struggling hard to maintain a sustainable climb in the prices as well as to maintain its presence above the crucial level.
  • The TRX/BTC pair is also performing negatively with the overall loss of – 0.08% bringing the level to 0.000019.

TRON1

The 7day-weekly chart indicates that there is a major downfall in the prices of the cryptocurrency. After taking a sharp negative divergence, prices are unable to maintain a gradual climb. There are lots of fluctuations in the prices on the crucial level of the normal level.

Today prices of TRON climbed back to the normal level yet suffering a lot to make a gradual climb due to the heavy dominance of the bears in the market.

The market collapse of last week is still haunting the prices of the cryptocurrency as still there are no able to find a firm ground above the normal crucial level.

The current  market capital is $662,297,004 USD, with volume traded of $1,193,446,323 USD and the circulating supply of 66,682,191 TRX

TRON(TRX) Technical Analysis

TRON2
Source:tradingview

The Technical chart reflects that due to the down-trending nature of the market there is a significant downfall in the prices of cryptocurrency. Even now prices are struggling to make a gradual climb in the prices. Due to the down-trending nature of the market, the decline in the prices of Torn is gradual.

The technical indicators and oscillators are showing heavy volume in the selling of the cryptocurrency due to the bearish momentum of the market.

The MACD levels are showing that there is a major bearish dominance due to the heavy selling volume.

The 24hr – RSI is facing major bearish dominance due to the down-trending nature of the market.

The 24hr-CCI is in the normal zone after climbing up from the overselling region.

Resistance Level: $0.0010
Support Level: $0.0090

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