- Tron price is trading in green near the vital level of the 20-day moving average, which must hold on for another positive momentum
- The coin is currently trading above all vital moving averages of 20, 50, 100 and 200-day
- The pair of TRX/BTC is trading positively with an intraday jump of +4.10%, standing at 0.000002464 BTC
Tron price over the monthly chart is trading on a bullish note after a healthy correction from the new 52-week of $0.1799. In contrast, a good bounce is seen from the 50-day moving average with good buying interest, whereas a positive rally is witnessed. However, the coin projects a bullish momentum from lower levels (50-DMA), but the volume is low. Since for positive momentum, the volume needs to improve, which falls below the average line. TRX price is presently trading above all essential moving averages of 20, 50, 100, and 200-day, which favors bulls for the long term. Support on the lower side is at $0.1170 and $0.0970; similarly, levels of $0.1580 and $0.1800 will acting as resistance.
Weekly Chart is Trading Under Pressure
Tron price over the weekly chart is trading under pressure; it seems bears are overpowering bulls, while the technical parameters favor bears. The coin is presently trading at $0.1380 with intraday gains of -4.56% and volume drop by -0,87%, standing at $4,387,543,324. Whereas some selloff can be seen over the daily chart, but the overall trend is bullish. Moreover, the coin for the short term finds support at $0.1300 and $0.1220, while resistance at $0.1500 and $0.1780. The total market capitalization is increased by +4.17%, standing on 22nd rank at $9,836,686,624.
Relative Strength Index (NEUTRAL) indicates bearish momentum while trading at 48.62. However, TRX is again heading towards an oversold zone and fails to sustain at higher levels.
Moving Average Convergence Divergence (MIXED) currently indicates a mixed trend on the daily chart. The seller’s line (red) and the buyer’s signal line (green) are presently overlapping each other, with no sign of clear momentum.
Support levels: $0.1170 and $0.0970
Resistance levels: $0.1580 and $0.1800