TRON (TRX) Analysis
In addition to automated chart patterns, altFINS’ analysts conduct technical chart analyses of top 30 cryptocurrencies. We call these Curated Charts and they evaluate 5 core principals of technical analysis: Trend, Momentum, Patterns, Volume, Support and Resistance.
TRON (TRX) technical analysis:
Trade setup: Following a bearish breakout from Channel Up pattern, price dipped to $0.058 support where it got oversold rebounded back above 200-day moving average, a bullish sign of potential Uptrend resumption. Pullback near $0.058 and 200-day MA support could be an attractive swing entry with upside potential to $0.071. (Set a price alert).
Trend: Neutral on Medium-Term basis and Uptrend on Short- and Long-Term basis.
Momentum is Mixed as MACD Line is below MACD Signal Line (Bearish) but RSI ~ 50 (Neutral).
OBV (On Balance Volume): is flat, indicating that volume on Up days is equal to volume on Down days. Hence, demand from buyers and supply from sellers are in equilibrium
Support and Resistance: Nearest Support Zone is $0.058, then $0.055. The nearest Resistance Zone is $0.065, then $0.071.
See live TRON (TRX) chart here
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Recent news and research:
TRON Founder H.E. Justin Sun Announces the Launch of USDD — A Decentralized Stablecoin
Centre to Expand USDC to Ten More Blockchains; Launches on Tron
Tron (TRX) Blockchain Starts Supporting Major Tether Rival USDC
Find more real-time news here.
