- TRX Price is currently on a bearish move with a loss of 3.2% in an intraday session.In contrast ,the TRX/BTC pair is also seeing a consolidated move
- Technical Indicators for Tron price suggests a consolidated move. Mean while, it has seen a gain of more than 500% from the start of the year.
TRON is a blockchain-based operating system that aims to ensure this technology is suitable for daily use. Whereas Bitcoin can handle up to six transactions per second, and Ethereum up to 25, TRON claims that its network has capacity for 2,000 TPS — 24/7.It was founded by Justin Sun who still serves as the CEO.TRX price has seen a significant gains in the past and can continue the same in future.
Tron is currently ranked 19th with the market capitalization of $8,784,984,606.35 . The coin volume has seen a decrease of 12.8%.The volume to market capitalization ratio for TRX is 0.3, and if it crosses above 0.8, then a huge buying rush can be seen.
Technical Indicators Suggests An Consolidated Move For TRX Price
The weekly technical chart of Tron highlights a bullish move. TRX price is moving in a bearish momentum in the daily time frame. Resistance on the upside for the coin can be seen at $0.17. TRX can bounce back while going down from $0.1. It is trading above 50 and 100 Moving Average. The 50MA (Yellow) line is at $0.096, making it temporary support for the current price. On the daily frame , the coin is forming a bearish Doji Candle. If the price goes down below above $0.1, it can go down to $0.05. The same scenario can be played out in the TRX/BTC pair.
RSI(Bearish): It is trailing at 52.9, showcasing its presence in the neutral zone. There is a negative slope formation in the RSI, highlighting a negative sentiment for the price. RSI depicts a bearish momentum for price.
TRX price has seen a gain of more than 500% from the start of the year. Tron will continue to fill its investor pocket as it did in the past. An Investor should do their due diligence before investing.