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- 1 TRX crypto price is trading at $0.07754581 currently with a market capitalization of $6.946 Billion.
- 2 TRON crypto gave more than 42.03% return to investors in a year.
Tron (TRX) is the native cryptocurrency of Tron, a decentralized operating system and smart contract platform that runs on blockchain technology. Tron’s vision is to create a decentralized internet, or “web 3.0”. Tron was founded in 2017 by Justin Sun, who also leads the Tron Foundation, a non-profit organization that manages the project’s development.
Tron is used to fuel the network and pay for transactions, fees, and services on the Tron platform. TRX can also be used to join the network’s governance, as well as to stake and earn rewards. Tron coin supports various types of decentralized applications (dApps), such as games, social media, streaming, and more.
TRON has a market capitalization of $6.947 Billion and a circulating supply of 89.573 Billion TRX. Its price has dropped by 6.23%% in the last 7 days and rose by 0.25% in the last 24 hours. TRX has a trading volume of $175.545 Million in the last 24 hours. Tron fell by 66.53% from its all-time high of $0.231673, which it reached 5 years ago.
TRON’s crypto price has risen above the 50 and 200-day moving averages on the weekly chart, showing strong bullish momentum. The market is positive about TRX’s performance. In addition, the weekly RSI and MACD are also supporting the bulls.
TRON Crypto Price Technical Analysis
TRX is displaying strong bullish momentum as its crypto price has climbed above the 50-day and 200-day moving averages. These are important indicators of the long-term trend. The crypto price may initiate a new uptrend and move higher if the buyers maintain their pressure. Furthermore, the bullish signal on the daily chart supports the positive outlook.
TRX crypto is moving neutrally according to the technical indicators MACD, RSI, and super trend. The MACD line is below the signal line, indicating a weakening of the momentum. The RSI is below 50, showing a negative trend. The super trend line is above the price, contradicting the trend. These indicators suggest that TRX crypto is in a slightly bearish trend and may reverse if the price is supported by the buyers. However, the price may also face resistance from the super trend line and the MACD signal line.
Conclusion
TRON crypto is moving in a narrow channel and reaching new highs as it reports a rise in its volumes. TRX has broken above the 50- and 200-day moving averages on daily and weekly charts, indicating a strong bullish trend. The indicators, such as RSI, and MACD, are neutral, and moving averages and super trend, are all positive and confirm the upward momentum.
Technical Levels:
- Support – The current support level is $0.0685206.
- Resistance –The current resistance level is $0.0865254.
Disclaimer
The 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.
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.
