TRON (TRX) Bulls Running Out Of Steam After An Impressive Climb

Ayush Malviyahttps://www.thecoinrepublic.com/
Ayush Malviya has recently joined as a technical market reporter for Thecoinrepublic- the Leading cryptocurrency news site. He believes that there is a broad scope in Crypto market and blockchain. Thats why he loves to gather knowledge about it and like to analyse the market pattern.
  • The cryptocurrency is performing well and it did acquire the level of $0.01400
  • TRON acquired a bullish momentum after reaching the level of $0.013500 and maintaining the climb above this crucial resistance level.
  • The TRX/BTC is indicating positive results with a gain of 2.15% in its level.

The TRON prices did commit a steady climb in today’s trading session and to recover the recent loss, one of the important factor, it acquired the crucial resistance level of $0.014000.

Prices did enjoy majorly in the upsurge in today’s and yesterday’s trading session. If prices manage a dominance above the level of $0.014000, they will become strong enough to achieve the level of $0.014500 with ease.

Currently, TRX is supported by the level of $0.01400 but due to the current pattern of prices, this level soon might be lost as there is a heavy variation above it. After acquiring this level, prices did have a sharp positive divergence that later turned into negative trade which is still going on.

TRON’s market capital of  $937,082,180 USD, with volume traded of $1,582,082,178 USD and the circulating supply of 66,682,072,191 TRX.

TRON (TRX) Price Analysis

tron1
Source:tradingview

The Technical chart reflects that bulls are emerging strongly due to the support of the overall market nature, now prices are trying to make a dominance of positive trade in its upsurge. Prices are right above the level of 0.01400 with some variations in them.

The technical’s indications are on positive grounds as there is an increase in the buying volume.

The MACD levels are showing that there is an increase in the buying volume of the cryptocurrency which is an indication of the positive trade after maintaining its presence in the negative zone.

The 24hr-RSI is trading in the heavy bullish region with a flat momentum, as it took a positive divergence from the neutral region. Currently, it is trading above the level of 65.

The 24hr -CCI is trading with a fall after committing a negative double wedge pattern at the over buying region.

Resistance Level: $0.014300

Support Level: $0.01400

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