TRON (TRX) Prices Prone To Bearish Momentum Due To Current Resistance Level

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 was performing well but it acquired the negative divergence due to the level of $0.014700
  • The TRX/BTC is indicating positive results with a gain of 1.67% in its level to 0.00000188

The TRON prices are trying to make a steady climb but bulls are fading as a strong negative trade is emerging in the prices.

Prices are suffering a lot due to this level of $0.014600 as in it is a major reason for the plummet. If prices manage a dominance above the level of $0.014500 they will become strong enough to achieve the level of $0.014600 with ease.

Currently, TRX is supported by the level of $0.014400. This level helped prices to put a halt on their fall twice and again it will be tested as prices are coming down due to their negative momentum.

TRON is trading with the market capital of  $970,134,917 USD, with volume traded of $1,430,601,893 USD and the circulating supply of 66,682,072,191 TRX.

Tron Price Analysis

tron1
Source:tradingview

The Technical chart reflects that bears are emerging due to the increase in the negative trade, now prices are trying to make a dominance of positive trade in its upsurge. Currently, tron prices are trading above the level of 0.014500 and trying to maintain a steady climb.

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 which can help due to current negative nature.

The 24hr-RSI is trading in the normal region with negative momentum, as it took a negative divergence in the bearish region. Currently, it is trading above the level of 60.

The 24hr -CCI is trading with a gradual fall at the over buying level. It did take a sharp and continuous fall in the overbuying region and soon will hit the normal level.

Resistance Level: $0.046000

Support Level: $0.014440

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