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- 1 TRX crypto price is trading at $0.08106849 currently with a market capitalization of $7.253 billion.
- 2 TRON crypto gave more than 17.40% return to investors in a year.
Tron (TRX) is the native cryptocurrency of Tron, a blockchain-based decentralized operating system and smart contract platform that aims to create a decentralized internet, or “web 3.0”. Tron was established in 2017 by Justin Sun, who is also the CEO of the Tron Foundation, a non-profit organization that oversees the project’s development.
Tron is used to power the network and pay for transactions, fees, and services on the Tron platform. TRX can also be used to participate in the network’s governance, as well as to stake and earn rewards. Tron coin supports various kinds of decentralized applications (dApps), such as games, social media, streaming, and more.
TRON has a market capitalization of $7269116402 and a circulating supply of 90 Billion TRX. Its price has risen by 3.51% in the last 7 days and by 1.30% in the last 24 hours. TRX has a trading volume of $203633804 in the last 24 hours, which is down by -4.80% from the previous day. Tron has fallen by -65.08% from its all-time high of $0.231673, which it reached 5 years ago.
Weekly Analysis of TRX Crypto
The crypto price of TRON. has climbed beyond the 50 and 200-day moving averages in the weekly chart, indicating strong bullish momentum. The market is optimistic about TRX’s performance. Moreover, the weekly RSI and MACD are also in favor of the bulls.
TRON Crypto Price Technical Analysis
TRX is showing bullish solid momentum as its crypto price has risen above the 50-day and 200-day moving averages. The crypto price could start a new uptrend and move higher if the buying pressure persists. Moreover, the bullish signal on the daily chart confirms the positive outlook.
TRX crypto is showing bullish signs according to the technical indicators MACD, RSI, and super trend. The MACD line has moved above the signal line, signaling bullish strength. The RSI is above 50, showing a positive trend. The super trend line is below the price, confusing the trend. These indicators imply that TRX crypto is in a mild bullish trend and may keep rising if buyers support the price.
Conclusion
TRON crypto is trading in a channel and reaching new highs while it reports an increase in its volumes. TRX hit higher highs and surpassed the 50- and 200-day moving averages on daily and weekly time frames. The RSI, MACD, moving averages and super trend are all positive, signalling a strong uptrend.
Technical Levels:
- Support – The current support level is $0.06962779
- Resistance –The current resistance level is $0.08094193.
Disclaimer
The TRX crypto price prediction given in this article is for informational and educational use only. Do not use this information as financial, investment, or as trading advice. Investing and trading in crypto is a risky task. Please consider your circumstances and risk profile before making any investment decisions.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
