• 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 / News / Altcoin News / Tron [TRX] gathers pace to initiate a fresh upswing near $0.07
Tron [TRX] gathers pace to initiate a fresh upswing near $0.07

Tron [TRX] gathers pace to initiate a fresh upswing near $0.07

August 1, 2021 by Chayanika Deka

Tron [TRX] has kicked off August with the right footing. The 25th-largest cryptocurrency saw a 12-straight day of winning streak despite several top altcoins appear to be faltering near their resistance levels. Notably, the volatility in the TRX market has made an uptick which could break the incessant consolidation and induce a legitimate trend change. It raked in weekly gains of 14% amid favorable fundamental and technical catalysts.

Besides, the cumulative market cap surged to $1.66 trillion. TRX price has registered a close above a crucial resistance line, possibly initiating a new trend for the crypto-asset.

Over the past 24-hours, Tron [TRX] was up by 2.79% which drove its price to $0.0657. At the time of writing, it recorded a market cap of $4.71 billion and a 24-hour trading volume of $874 million.

Tron [TRX] Daily Price Chart:

TRX
Tron [TRX] gathers pace to initiate a fresh upswing near $0.07 4

After a sustained bullish momentum, the volume in the TRX market has seen minor positive change. As matter of fact, the price candles finally pierced through the downsloping 50 DMA [Pink] this week which further reinstated a bullish sentiment. The candlestick arrangement was climbing closer to the 100 DMA [Blue] and the 200 DMA [Yellow] which if breached could trigger a significant push towards the upside.

TRX2
Tron [TRX] gathers pace to initiate a fresh upswing near $0.07 5

The green closing bars of Awesome Oscillator [AO] depicted a strengthening bullish momentum in the coin market. The MACD flipped positive as buying demand shot up. In addition to that, the Relative Strength Index [RSI] also soared above the 50-median line and was now eyeing the overbought territory indicating a sentiment of increasing buying pressure in the TRX market.

If momentum is sustained, Tron’s price can target a rally all the way to the 100 DMA and the 200 DMA at $0.073, and $0.081 levels respectively to eventually aim for yearly highs. The support areas, on the other hand, were found to be at $0.05, and $0.028.

Filed Under: Altcoin News, News Tagged With: TRON (TRX)

Primary Sidebar

Recent Posts

  • Vauld’s Legal Woes Mount After ED Freezes Assets Worth $46M August 12, 2022
  • XRP Rewards Programs Now In Japanese Shinsei Bank August 12, 2022
  • Trexpunks Boosts NFT Market Sentiment With New Features August 12, 2022
  • Pets vs Pets August 12, 2022
  • Will Ripple Emerge As A Saviour For Insolvent Celsius? August 11, 2022

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 © 2022 · 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.