Tron Stuck in the Consolidating Range of $0.029 to $0.024

Pratik Chadhokar
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 possesses strong technical analytical skills. He is well known for his entertaining and informative analysis of the Financial markets.
  • Cryptoasset trading in a narrow range of $0.029 to $0.024 gains 2.98% in the last 24-hours and rose to 3.96% in the last seven days 
  • TRX is trading at the level of 0.027$ with volume of $1,474,308,931
  • The overall crypto market has bounced from the lower level and trading with bitcoin dominance of 58.4% 
tron 1
Source: Tradingview

Tron is trading at the level of $0.024 within the range of $0.024 to $0.029 and a sideways consolidation is observed over the 4-hours candlestick, the coin has a minor resistance level of $0.028 while the level of $0.029 as a strong resistance level for it.

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Source: Tradingview

The support over the monthly chart is observed at the level of $0.024. The coin is trading flat with a gain of 3.96% over the last seven days. 

The market capitalization of the token stands at $1,941,766,991 likewise the traded volume in the last 24-hours is $1,474,308,931. After making the 52-week high of $0.048 over the monthly chart the coin makes the low of $0.024 and trading in the range of $0.029 to $0.024.

The Directional Movement Indicator (DMI) of the coin gives multiple crossovers over the chart suggesting the amalgamation in the coin, as a result, the +DIs gives multiple crossovers over -DIs a range-bound movement can be continued in the coin concerning support and resistance. 

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Source: Tradingview

Relative Strength Index (RSI) of trading near the neutral level and within the normal range in the indicator chart indicates that the coin is trading at 55 RSI level. The Commodity Channel Index (CCI) also indicates the volatility in the coin trading at the level of 75 CCI. 

Support for TRX: $0.024

Resistance for: $0.029 

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