- TRON price is observing a downtrend from the past few days. Mean while,TRX price is seeing a loss of 9% in the intraday session
- TRX price technical indicators hint at bearish momentum in the upcoming days. In contrast.TRX/BTC pair is in a consolidated momentum on the daily time frame.
TRON price is trading at $0.07265 with a loss of 9.81% in the last 24-hour. TRX token price resistance on the upside can be observed at $0.12. Meanwhile, the support for the price can be seen near $0.04. The price is currently trading below 50 and 100 Daily Moving Average. The 100MA (RED) line is currently at $0.0926, making it a temporary support for the price. TRX/BTC pair is currently in a slump but can soon see a positive breakout.
TRON is ranked 24th in CMC, with a market capitalization of $7,311,594,493 .The coin volume along with the market capitalization has seen a decrease. The volume to market capitalization ratio for the asset is 0.35, highlighting the probability of bearish momentum .
Technical Indicator Suggests A Bearish Momentum For The TRX Token Price
The weekly technical chart for the Tron price hints at start of bearish momentum . TRX price is currently on a downtrend and has seen a 15.2% on the weekly chart. The daily chart of the coin hints at an upcoming bearish momentum. TRX price might see a significant downtrend in the upcoming days. It might see a small recovery in the future.TRX/BTC pair is also on a bearish trend and can break the supports created in the past.
The volume indicator of the TRX token is at 24.31M with a moderate selling pressure. If the price climbs down below $0.04 then the selling volume could see a significant surge.
RSI(Bearish): It is currently at 37.04, highlighting its presence in the neutral zone. There is negative slope formation in the RSI, suggesting the probability of a downtrend. RSI suggests a bearish momentum in the price.
TRX token price gains have been erased in the recent downside rally. The TRX/BTC pair is also observing a downtrend and can continue in the future. An Investor should do their due diligence before investing.