Tron, the 14th largest cryptocurrency in the world, was witnessing a bullish growth of 4.41 percent over the past 24-hour with a market cap of $1.19 billion. The recorded volume was also pretty significant with $524 million and the token was traded the most on Biki exchange, which was responsible for around 10 percent of the overall trade.
Resistance 1: $0.0183
Resistance 2: $0.0176
Support 1: $0.0164
The short term chart of TRX experienced an uptrend which stretched its valuation from $0.0171 to $0.0183 after its price had fallen from $0.0178 to $0.0175.
The Bollinger Bands were converging in the charts suggesting decreased volatility at press time.
The Awesome Oscillator pictured the emergence of red bars indicated bearish momentum.
The Chaikin Money Flow or CMF suggested that the capital flowing in was marginally higher than capital going out.
Resistance 1: $0.0384
Resistance 2: $0.0353
Resistance 3: $0.0291
Support 1: $0.0208
Support 2: $0.0167
The long term chart was dominantly bearish as the token had recently breached the long support of $0.0208, establishing a new one at $0.0167. An uptrend was exhibited from $0.0277 to $0.0383, after which the price slumped severely.
The Parabolic SAR remained bearish as the dotted markers remained above the candles.
The Relative Strength Index or RSI remained close to the over-sold section after the RSI line remained under the 40-line marker.
The Awesome Oscillator or AO had green bars appear at press time however, the bullish momentum was fairly weak.
Tron, despite experiencing a growth of over 4 percent at press time, failed to exhibit major recovery for the loss which was witnessed over the last one month.