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- The current price of the TRX crypto is surfing around $0.06663 with a drop of 1.55% during the intraday trading session.
- The pair of TRX/BTC is 0.000002438 BTC with a decrease of 1.46% in the last 24 Hours.
- The Tron’s price is above the 20,50,100,200 days of the Daily Moving Average.
The sellers are trying to get involved in the trade as the coin gets dips over the daily price chart. The ongoing bearish trend might get a reversal as the buying is declining. The TRX upward trend has continued from the start of 2023 now sellers are attempting to reverse the trend.
The Tron is currently trading at $0.06663 with a decline of 1.55% during the last intraday trading session. Investor interest is growing due to the TRX roller coaster ride. The coin might break through its resistance if the coin follows the ongoing uptrend.
The bulls are working very hard to prevent the bears from entering the trade. The coin might reach the primary support of $0.0572 and if the buying declines the price might reach the secondary support of $0.0514. If the buyers attempt to keep bears out of trade the coin’s price could reach the primary resistance of $0.0719 and it might reach the secondary resistance of $0.0849.
The decreasing volume indicates that the sellers are trying to engage in the trade. The volume of the Tron declined by 19.87% during the last intraday trading session. The short-selling pressure over the coin also increases due to the buyer’s stillness. The Tron’s price is above the 20,50,100,200 days of the Daily Moving Average.
Technical Analysis of TRX
The technical indicator shows the following: The MACD and MACD signal have intersected indicating a positive crossover. The Relative Strength Index is in the overbought territory. The current value of RSI is 52.47 which is above the average RSI which is 45.73. This indicates that the buying may increase. The sellers are also attempting to bring the RSI down. The buyers are also attempting to take RSI toward the overbought zone. The RSI is moving towards the overbought zone from neutrality.
Conclusion
The TRX is currently on an upward trend and the coin is following an upward trend. The current price of the TRX crypto is surfing around $0.06663 with a drop of 1.55% during the intraday trading session. The buyers have a good grip over the coin and the bulls might lose their grip.
Technical Levels-
Resistance level- $0.0572 and $0.0514
Support level- $0.0719 and $0.0849
Disclaimer-
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
