• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • About us
  • Write for us
  • Terms and Conditions
  • Privacy Policy
  • Disclaimer
  • Contact
  • All Posts
  • Advertise

TronWeekly

Crypto World News

  • Home
  • Education
    • Best TRON Wallets
    • Beginner’s guide to TRON
  • Opinion
    • Tron Tokens
    • Market Analysis
  • Industry
    • Tron Exchange
    • Project Review
  • Press Release
  • Advertise
  • About us
    • The Team
    • Editorial Policy
    • Write for us
    • Privacy Policy
    • Disclaimer
    • Terms and Conditions
    • Contact
You are here: Home / Opinion / Market Analysis / Tron breaks in the top ten. TRX price analysis for May 28th, 2019
Tron

Tron breaks in the top ten. TRX price analysis for May 28th, 2019

May 28, 2019 by Ali Qamar

Tron’s TRX cryptocurrency’s performance since last Sunday is nothing short of fantastic. It’s gone up by 10.71% just in the previous 24 hours, and it’s trading at $0.035439 as we write this. In fact, the rise in the value we see in Tronix is enough for it to climb the capitalization ladder, so it’s now the world’s tenth largest coin, swapping places with Cardano’s ADA.

Another of the currencies issued by Tron, the BitTorrent Token (BTT) is also performing well, and it’s broken into the world’s top 30 by market capitalization. Since BTT is a TRX-based token, its success can’t possibly be hurting TRX’s performance.

Mission completed. More to come. It is just a beginning. #TRON #TRX $TRX #BitTorrent #BTT $TRX https://t.co/AiPD2JWf1y

— Justin Sun (@justinsuntron) May 28, 2019

TRX is clearly trending so let’s have a look at technicals and let’s figure out what to expect in the next 24 hours or so.

24-hour technical analysis

The 24-hours technical is bullish but not too much, which is a little strange taking into account the intensely green numbers in the market. It could be because the spectacular rise in Tronix’s price is not complemented with high trading volumes.

Tron
Source: CoinMarketCap.com

The current price is above the pivot point (0,034153) but still far from the 0,037521 first resistance level. All the moving averages and technical indicators are intensely green, though, and every active signal is for the bulls.

So the trend is there, it’s positive, and the technical numbers give us reason to believe that it can only keep going up for the time being until it reaches the first resistance level, which hasn’t been broken yet. But going from 0,027 to 0,035 in not even two days, the market has overcome several resistance levels already, so it could very well gather enough momentum to break a few more.

Monthly technical analysis

In the monthly scenario, we’re already above the first and the second resistance levels (0,029368, 0,035257) so the bulls are also getting ready to meet the third resistance at 0,038979, push it, and beat it. All the averages support the bulls as do most technical indicators (five out of eight).

If the market is going to find resistance during the next 24 hours, it’s more likely to occur at the 0,038979 than at 0,037521 because monthly resistance and support levels tend to be better predictors for the market’s behavior.

This is an exciting time for Tron holders. The token is not only performing very well as an asset, but it’s actually outperforming most of the cryptocurrency market which is why it’s earned that long coveted place in the top 10.

The only missing ingredient in the recipe that would guarantee Tron’s success as a profitable asset today is trading volume. Trading volumes have been weak during the last hours, and they’ve been stronger for the bears than for the bulls. So while TRX is an excellent option for investors today, caution is adviced because until we see high trading volumes supporting bullish activity, we can’t be sure that the coin will keep performing.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

Filed Under: Market Analysis, Tron News Tagged With: BTT, Price Analysis, TRON (TRX)

Primary Sidebar

Recent Posts

  • Philippines Is All Set To Tackle Money Laundering By Licensing Crypto Platforms January 28, 2021
  • Gemini Dives Into Singapore Shores By Adding Support To SGD January 28, 2021
  • Cardano [ADA] Struggles Near $0.32 As Selling Pressure Intensifies January 27, 2021
  • Ethereum [ETH] Slips After Hitting A New All-Time High January 27, 2021
  • XRP Risks Further Sell-off on Bearish Sentiment January 27, 2021


Footer

News

  • Altcoin News
  • Bitcoin News
  • Blockchain
  • Tron News
  • World

Digest

  • Meet the Founder
  • Price Winning Article
  • DeFi
  • Cyber Security
  • Crypto Scam

Industry

  • Project Review
  • Technology
  • Fintech
  • Tron Exchange
  • New in Town

Tron Universe

  • Event and Tron Parties
  • New in Town
  • Tron Tokens

Follow Us

Subscribe US

Copyright © 2021 · Tron Weekly. All Rights Reserved. NOTE: Tron Weekly is an independent crypto news site that adheres to the strict journalism policy anchored on transparency, trust, and objectivity, we have no affiliation with the TRON Foundation, its founder Justin Sun or any other cryptocurrency firm.