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- 1 TRON crypto price is currently trading at $0.07915235 with a drop of 0.16% in the last 24 hours.
- 2 TRX has a current market cap of $7.065 Billion.
- 3 TRXUSD rising high from the lower support
TRON price has been in a bull trend for the past few months. After producing a breakout, TRX crypto price found consistent support from the bulls on the trendline. Historical price action suggests that the 200 EMA level has been acting as a crucial demand zone.
The price movements are relevantly more stable for TRX crypto than other major cryptocurrencies Buyers have an adequate probability of attaining the expected target if they are able to sustain the price above the 200 EMA which would put the anticipated outcomes in the bulls’ favor.
TRXUSD price prediction suggests that the TRX crypto is presently moving in a rising channel heading in an uptrend after breaking out of the bear’s stronghold. The price is above the critical EMAs on the daily timeframe. The volume shows a slight decline which indicates that there is a fall in buying and selling activity.
If the price gains buyers’ support at the present level, it could see a surge of 20% near the price of $0.0950 within the next few weeks, whereas the immediate support level for the TRXUSD is below around $0.073.
The present value of TRX is $$0.07915235 and it has a market capitalization of around $7.065 Million (press time)
Technical Analysis of TRON Crypto Price in 1-D Timeframe
TRON (USD: TRX) has steadily seen its crypto price rise for the past three months, gaining 13.89% and 2.94% last month. Currently, TRX crypto is trading at $0.079 and has been trying to hold on to this level after an unexpected surge in price.
If it can stay at this level, TRON price could resume to go up and reach the first and second targets of $0.07200779 and $0.06725246. Nevertheless, if the TRX price cannot maintain this level and falls, then it might hit the closest support levels of $0.08023644 and $0.08370976.
Currently, TRON crypto(USD: TRX) is trading above the 50 and 200-day EMAs (exponential moving averages), which are supporting the price momentum. Nevertheless, if buying volume adds up, then the price might support bullish momentum by making higher highs and new highs. Hence, the TRXUSD price is expected to move upwards giving bullish views over the daily time frame chart.
The MACD line at 0.00054566 and the signal line at 0.00017941 are above the zero line. A bearish crossover is observed in the MACD which signals weakness in the momentum of the TRX crypto price. The current value of RSI is 59 points. The 14 SMA is above the median line at 53 points which indicates that TRON crypto is bullish.
Summary
TRON (USD: TRX) technical oscillators also support the bullish trend. The MACD, RSI, and EMA are giving positive signs, suggesting that the uptrend may continue in the TRX crypto price. Price action suggests that the investors and traders are bullish on the 1-Day time frame. The price action reflects a bullish perspective at the moment. However, investors and traders should wait for proper setup for the next move and avoid FOMO.
Technical Levels
- Support Levels: $0.08023644 and $0.08370976.
- Resistance Levels: $0.07200779 and $0.06725246.
Disclaimer
The analysis provided in this article is for informational and educational purposes only. Do not rely on this information as financial, investment, or trading advice. Investing and trading in crypto involves risk. Please assess your situation and risk tolerance 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.
