The TRON cryptocurrency has been experiencing a decline in value, with an increase in selling pressure observed in the recent trading sessions. The chart structure indicates that the bears have the upper hand, with negative candles being formed as a result of the fight between the bears and bulls.
As of now, the TRON crypto is trading at $0.1108, with a 3.57% drop in value, indicating bearishness. Although buyers are trying to gain momentum, they have only been able to secure a few key levels of support. Intraday trading volume has increased by 4.03% to $245,878,538. Furthermore, the TRON crypto is expected to be volatile in the coming sessions.
The TRON cryptocurrency is currently in a downtrend on the daily chart and has been underperforming for the past few months. Additionally, technical indicators suggest that the market sentiment is bearish, with no signs of a bullish reversal or bounce.
Technical Analysis Of TRON Crypto Price In 1-D Timeframe
TRON crypto (USD: TRON) is currently trading below the 50 and 200-day EMAs, indicating a lack of support for the price trend. However, if the selling volume increases, the price could potentially surpass the supporting SMAs by making lower highs and lows. As a result, the TRON price is expected to move downwards, giving bearish views over the daily time frame chart.
The relative strength index (RSI) is currently at 38.01 points, with the 14 SMA above the median line at 38.64 points, indicating that the TRON crypto is bearish.
The MACD line is currently at -0.00324629 with the signal line at -0.00316407, both above the zero line. Additionally, a red histogram is observed in the MACD indicator, signaling more bearishness for the TRON crypto price.
On the 4-hour charts, TRON token is under the sellers’ control. The price action indicates that sellers are persistently pushing back against the bulls below the lower trajectory, causing the gains from the top to erode.
Summary
The TRON cryptocurrency has been experiencing a decline in value, with an increase in selling pressure observed in the recent trading sessions, indicating a bearish market. The TRON crypto is trading at $0.1108, with a 3.57% drop in value. Technical indicators suggest that the market sentiment is bearish, with no signs of a bullish reversal or bounce in the near future. The price is expected to move downwards, giving bearish views over the daily time frame chart. The MACD indicator signals more bearishness for the TRON crypto price.
Technical Levels
Support Levels: $0.1044
Resistance Levels: $0.1191
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your own research before making any financial decisions
