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- Trx is showing significant bullish move in today’s market with an overall gain of 6.40%.
- The coin has also broken the major resistance level of $0.015.
- The TRX/BTC is also performing significantly positive with the gain of 5.06% bringing the level to 0.00000168 BTC.
The 7day-weekly chart reflects on the consolidation faced by Tron (TRX) price this month which is later followed by breaking the multi-month resistance level of $0.015 in today’s market. During the whole month, the Tron Price is moving in the price band of $0.013 to $0.015. Finally, the TRX price band has been broken positive in today’s market and indicates further bullish move for the coin.
Looking at the stats, TRON Trx is sitting comfortably at the safe spot of $0.016003 with the market cap of $1,067,136,573. The volume traded for the coin is $1,5674,585,777 with the circulating supply of 66,682,072,191 TRX.
If the coin sustains on the current bullish momentum, the next resistance level will be around $0.018 in the road to recovery for a $0.020 mark. It should be noted that if the positive move turns significant for continuous days in the market, this resistance level might be easily broken by the bulls.
TRON Price Analysis
The technical graph also reflects on the consolidation in between which is there a significant downtrend. However, in today’s market, the coin boosted to the level of $0.016.
The technical indicators also suggest that the bulls are strongly backing the positive momentum.
The MACD levels have finally reached the bullish zone after spending some time in the bearish zone.
The RSI has now reached the overbought region. A negative divergence to the normal region will also ensure sustainability. However, if the levels stay in the overbought region for too long, it may face a sharp downfall too.
The CCI is also in the overbought region and a negative divergence will also provide some sustainability on the positive move.
Resistance level: $0.018
Support Level: $0.013 and $0.010
Mr. Pratik chadhokar is an Indian Forex, Cryptocurrencies and Financial Market Advisor and analyst with a background in IT and Financial market Strategist. He specialises in market strategies and technical analysis and has spent over a year as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the Financial markets.
