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- 1 Tron price prediction showcases the crypto’s rising momentum inside an interesting channel.
- 2 TRX crypto has recovered above the 20, 50, 100 and 200-days Daily Moving Averages.
- 3 At press time, TRX/BTC traded at $0.000002536 BTC with an intraday gain of 0.97%.
Tron price prediction shows the upward movement of TRX crypto inside the rising parallel channel over the daily time frame chart. TRX crypto needs to maintain the recovery momentum through the channel. However, sellers’ have been pulling the TRX crypto towards the lower trendline of the rising parallel channel.
Tron price was at $0.07692594 and lost 0.42% of its market capitalization during the day’s trading session. Trading volume decreased by 0.88% during the intraday trading session. This indicates that sellers are trying to get involved in the trade and may end up raising TRX crypto price. The volume to market cap ratio stands at 0.0219 (press time).
Tron Price Prediction: Technical Analysis
Tron price prediction suggests the token’s recovery through an interesting ascending parallel channel over the daily time frame chart. Meanwhile, TRX crypto has recovered above 20, 50, 100 and 200-days Daily Moving Average.
Tron price has surged around 3.30% in a week and 16.30% in the last three months.
Moreover, TRX crypto has soared 43% in the last six months and 41.63% year to date. This confirms the facts regarding TRX crypto’s maximum recovery during 2023. Investors in TRX crypto need to wait until the cryptocurrency breaks out from the primary resistance level of $0.07968625.
Technical indicators suggest the upside trend of TRX crypto. Relative strength index showcases the consolidation phase of TRX crypto. RSI was at 61 and is flat above neutrality.
MACD exhibits the uptrend momentum of TRX cryptocurrency. The MACD line is above the signal line after a positive crossover. Investors in TRX crypto need to wait for any directional change over the daily time frame chart.
Summary
Tron price prediction suggests TRX crypto is primed for a spike as it moves within a rising consolidation channel. Tron price surged around 3.30% in a week and 16.30% in the last three months. Technical indicators suggest an upside trend of TRX crypto. Investors in TRX crypto need to wait for a directional change over the daily time frame chart.
Technical Levels
Support Levels: $0.07579 and $0.07432
Resistance Levels: $0.07968 and $0.0830555
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 or stock comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
