Tron News

After the severe meltdown triggered by China’s Evergrande, buyers have returned to the Tron [TRX] market. The broader cryptocurrency ecosystem is bouncing upward as well. TRX is yet to reverse its weekly losses of over 15%. Even as there are no clear upward goals, the volatility in the market is picking up suggesting temporary relief.

Tron had suffered two fatal blows which pushed it to the 25th spot. However, over the past 24-hours, TRX yielded an ascent of 7.13% which drove its price to $0.098. At the time of writing, the crypto-asset registered a market cap of $7.04 billion and a 24-hour trading volume of $1.41 billion.

Tron [TRX] Daily Price Chart:

Tron [TRX] bounced from a psychological support area and dodged the upward sloping moving averages. The 50 DMA’s [Pink] attempt to reclaim its foothold above the TRX candles was thwarted by the uptick. The gauge 200 DMA [Yellow] and the 100 DMA [Blue] continued to hover below supporting the price action. The low volume, however, added uncertainty to the progression. Hence, it is unclear if the crypto-asset has made up its mind to climb a new swing high yet.

The technicals demonstrated optimism. The closing red lines of Awesome Oscillator [AO] indicated a weakening bearish momentum in coin market. The Chaikin Money Flow [CMF] also bounced from the zero line in tandem with the price action of the underlying asset depicting an uptick in terms of capital inflow to the market. Even though the Relative Strength Index [RSI] jumped back to the 50-median line, it formed a bearish divergence that could hinder solid resurgence prospects.

If Tron continues to move forward, it could face significant resistance at $0.12. A successful breach could catapult the crypto to target yearly highs of $0.152 and beyond. On the other hand, the support levels were found to be at $0.088, $0.077, and $0.050

Tron [TRX] is of the few crypto-assets that started on a positive note as the broader market flashed red. The latest development follows Justin Sun’s tweet wherein the founder of Tron Foundation teased the community on big news. Besides, TRX’s recovery has been impressive as it decoupled from the rest of the crypto market. It reversed losses from last week’s sell-off and was up by 4.49% over the past seven days.

The latest surge catapulted Cardano [ADA] to a price of $0.108. After recording over 8% daily gains, TRX moved a spot higher and was now the 24th-largest cryptocurrency with a market cap of $7.78 billion and a 24-hour trading volume of $4.68 billion.

Tron [TRX] Daily Price Chart:

The surge comes at the heels of 50 [Pink] and 200 [Yellow] daily moving averages forming an ultra-bullish Golden Cross after two months of laying low. All the DMAs were aligned below the TRX price candles, firmly supporting the crypto-asset’s price from further downfall. In short, the moving averages aligned with the rising optimistic outlook for TRX’s price in the near term.

As the volatility rose, the volume also hinted at a potential breakout which will determine if the uptrend is sustainable.

The formation of green closing bars on Awesome Oscillator [AO] depicted a bullish momentum in the coin market. The Klinger Oscillator [KO] also aligned with the bulls. The daily Relative Strength Index [RSI] bounced back up after the sell-off, but the bearish divergence that has taken shape is a threat to the current uptrend.

A short-term pullback could sway Tron’s price to test $0.08 which is a strong support for the crypto-asset. To reclaim its yearly highs, TRX first needs to breach the immediate resistance level of $0.11. In case of a bullish breakout, other resistances of $0.131, and $0.152 may come into play.

Tron [TRX] broke free from a crucial level of resistance. The crypto-asset slumped after establishing a local top of $0.09 on the 15th of August. However, TRX quickly flipped the narrative to climb $0.101, a level that was last seen on the 19th of May after rallying 10.55% over the past 24-hours. Even as the broader crypto market was far from the blistering rally, the price dynamics appear optimistic as the collective valuation soared to a whopping $1.23 trillion.

At a market cap of $7.29 billion, Tron has surpassed Theta to reclaim the 25th spot after posting more than 21% weekly gains. The crypto-asset registered a 24-hour trading volume of $1.63 billion, at the time of writing.

Tron [TRX] Daily Price Chart

The volatility in the TRX market has picked up following the upswing. The low volume could, in fact, pose a threat to the much-anticipated price action. On the other hand, the moving averages depicted a promising outlook. After a bullish crossover with the 100 DMA [Blue], the 50 DMA [Pink] was now aiming for a Golden Cross with the 200 DMA [Yellow]. If this does transpire, TRX could get the necessary traction to climb the previously reclaimed levels and surge to new highs.

The green closing bars of Awesome Oscillator [AO] indicated a growing bullish momentum in the market. The MACD also underwent a bullish crossover after TRX’s climbing to level not seen in more than three months. The Relative Strength Index [RSI] attempted to climb above the overbought region after registered a bearish divergence.

Selling pressure might be lead to a dip in Tron’s. But the overall market conditions seem to be fairly bullish. Hence, there’s a high chance that the potential slump might not drive a deeper correction. Currently, there is little resistance till $0.11 level, a break above which would bring in $0.15 and $0.164 levels at play.

On the other hand, the support levels stood firm at $0.08, and $0.05.

Tron [TRX] has been consolidating after forming a local top on the 15th of August. Of late, the digital asset is feeling the pulling of the gravity once. It has been struggling to surge above the 20th May level having faced rejection just shy of $0.092. The volatility in the market has declined to depict an extended period of sideways movement.

Tron [TRX] was up by 1.51% over the past 24-hours and was currently exchanging hands at $0.088. At the time of writing, the crypto-asset registered a market cap of $6,33 billion and a 24-hours trading volume of $1.16 billion.

Tron [TRX] Daily Price Chart:

Low volume in the Tron market has further impeded the growth trajectory of the crypto-asset. The moving averages aligned below the TRX price candles supporting the price from a damaging downturn. The 50 DMA [Pink] underwent a bullish crossover with the 100 DMA [Blue] exhibiting an optimistic outlook. The crypto-asset had recently claimed 200 DMA which continued to hover close to it. If the 50 daily moving average manages to shift over the 200, forming a golden cross, TRX might get the much-needed push to climb towards the highs established in the 2021-highs.

As noted by the Chaikin Money Flow [CMF], the inflow of money in the TRX market has been consistent depicting a bullish sentiment. The MACD, however, signaled bearish cues that were indicative of a struggling demand in the coin market. But with the daily Relative Strength Index [RSI] still trending above the midline after falling from the overbought zone, TRX bulls remain hopeful for further upside.

The overall trend in Tron’s daily chart is positive and no abrupt price movements on either side appear to be in the inkling. The resistance levels stood at $0.11, $0.152, and $0.164, while the support levels were at $0.07, and $0.05 respectively.

Tron [TRX] climbed to levels last seen in mid-May after experiencing a run higher as a favourable tailwind in the wider cryptocurrency market boosted the bulls. The crypto-asset breached a significant resistance level which caused upside aided by the increasing volatility in the market. Overall, the recovery has been impressive. However, TRX’s positive rally might come to an end as TRX slumped after a three-month.

Tron [TRX] was down by 5.75% over the last 24-hours which drove its price to $0.085. At the time of writing, the crypto-asset registered a market cap of $6.08 billion and a 24-hour trading volume of $1.15 billion.

Tron [TRX] Daily Price Chart:

After weeks of a continued uptrend, TRX bulls appeared to be taking a breather. The latest downtrend comes right after the 200 DMA [Yellow] underwent a bearish crossover with the 100 DMA [Blue]. While the moving averages slipped below the candlesticks depicting a bullish phase, the ongoing market trend did not appear to be promising. If the upsloping 50 DMA [Pink] manages to reclaim its position above the 200 DMA, Tron could finally target the yearly highs again.

The low volume, on the other hand, posed a major hindrance to the digital asset’s growth.

The Chaikin Money Flow [CMF] made a reversal in tandem with the price action indicating a minor slump in capital inflow. The MACD was also on the verge of sustaining a bearish crossover as being demand faded. The Relative Strength Index’s [RSI] drop from the extreme overbought region further suggested that TRX buyers face resistance as profit-taking is likely to occur, and the rally will lose steam.

Tron topped out at $0.093 a crucial resistance level, which if breached, will set the stage for more upside. Immediate resistance levels following this stands at $0.152 and $0.164 respectively. However, if selling pressure intensifies, TRX could retest $0.075, $0.066, and $0.050

Tron [TRX] has slipped to the 26th position despite several crypto-assets breaking down crucial resistance barriers. While the altcoin did register weekly gains of 17% as it climbed to levels last seen in mid-June, it has failed to outperform its peers this week. Currently, volatility in the TRX marked faded and the asset was now seeing a decreased bullish momentum, which could lead to a sideways movement or even a pullback.

Over the past 24-hours, Tron [TRX] was up by 3.26% which pushed its price to $0.073. At the time of writing, the digital asset held a market cap of $5.28 billion while recording a 24-hour trading volume of $1.09 billion.

Tron [TRX] Daily Price Chart:

The volume has been low since the market underwent a sell-off three months back. This could trap the price action below significant resistance levels. The moving averages, on the other hand, have lost a great deal of steam as TRX rallied for two straight weeks.

The 50 DMA [Pink] shifted its base below the candlestick arrangement shortly after sustaining the death cross. The 100 DMA [Blue] and the 200 DMA [Yellow] continued to hover above the TRX price candles but were closing in on them while also approaching a bearish crossover. If TRX manages to break above these two moving averages, an upswing might lead to a breach of several notable target points.

Following the uptrend, the dotted markers of the Parabolic SAR aligned themselves below the TRX price candles supporting the crypto-asset from a damaging market correction. The MACD also depicted a bullish picture with growing buying demand in the coin market. Similarly, the Relative Strength Index [RSI] also indicated a sentiment of increasing buying pressure among the investors in the coin market as it soared close to overbought territory.

Tron first needs to breach $0.082 to aim for $0.117, and $0.152 resistance levels. Its support points, on the other hand, stood firm at $0.05, and $0.029 respectively.