At the time of writing, Tron [TRX] is growing by 3% and is trading for $0.023. The total market cap TRX is $1.54 billion, with a 24-hour market volume of $87 million. A majority of TRX’s trade volume is held by BitForex, with transactions totaling $21.074 million worth of TRX. BitForex is closely followed by Rfinex, covering $13.136 million of all the TRX trade.
The Bollinger bands look to be converging which indicate that we are still in a bear market. The Bollinger clouds on the other hand have expanded greatly, which may indicate a future entry in the bull market.
The Relative Strength Index has been stable, close to the middle, which indicates an equilibrium between the buying/selling pressure. TRX, during its spike on November 3rd had started to climb towards the overbought zone after which the change in the investor sentiments bought it back down to the middle of the graph.
TRX price increase can also be explained by recently when Justin Sun’s announced that TRX will be listed on Bestex, United Kingdom based global digital asset spot trading service provider. Sun tweeted:
“#TRON will be listed on Bestex (http://www.bestex.io ), a global digital asset spot trading service provider founded in December 2017 and based in the UK. TRX/USDT will be available on November 16, 12:30pm (SGT). $TRX #TRX.”