Tron Price Analysis: Bears overtake Tron market despite its efforts

Tron has been performing phenomenally in comparison with other cryptocurrencies and a part its performance can be attributed to BitTorrent’s highly anticipated launch and adoption.
Currently, Tron holds the eighth rank in terms of market cap and is just below the stable coin Tether [USDT]. The 24-hour trade volume of Tron is at $127 million and 13.34% of the trading volume comes from HitBTC exchange through the trade pair TRX/USDT.
1-hour
Source: TradingView
There is no uptrend being formed yet as the trend is heading down, so the downtrend for Tron extends from $0.0287 to $0.0245, with prices breaching the support at $0.02544. The resistance point is at $0.0283 since the first week of February but the prices have since moved away from it.
The Parabolic SAR markers are seen forming above the price candles, indicating a bearish trend for the prices on Tron.
The MACD indicator also indicates a bearish trend as there is the formation of bearish crossover, which is below the zero-line and is headed straight downwards.
The Awesome Oscillator shows a decreasing momentum for prices as the bars formed are in red and are below the zero-line.
1-day
Source: TradingView
The uptrend for Tron in the one-day extends from $0.0129 to $0.02539 while the downtrend ranges from $0.0498 to $0.00284. The support at $0.0119 has been holding the Tron prices pretty solid since late November 2018. The resistance line at $0.0267 was breached briefly for a few weeks, but the prices have dipped below it again. The subsequent resistance point at $0.0396 is holding alright.
The MACD line, in the larger time-frame, is also undergoing a bearish crossover towards the downside. The histogram accurately represents the same with red bars that have developed over the zero-line.
The Stochastic indicator has dipped below the oversold range, indicating a bearish downtrend here as well.
The Chaikin Money Flow indicates that money ]flowing into Tron is very less, indicating that the sellers are dominating the market.
Conclusion
The one-hour chart for Tron shows a bearish downtrend as indicated by SAR, MACD, and Awesome Oscillator. The one-day chart shows a bearish overall trend as indicated by MACD, Stochastic and CMF indicators.
The post Tron Price Analysis: Bears overtake Tron market despite its efforts appeared first on AMBCrypto.
Source: AMB Crypto

Tron [TRX/USD] Technical Analysis: Bears snatch the short-term rally from bulls

Tron, like all the other cryptocurrencies, has settled down after a short-term rally and is now the eighth-largest cryptocurrency in the world. The price of Tron, at press time, was $0.0256, with a market cap of $1.7 billion.
The 24-hour trade volume for TRX was $195 million and most of the trade volume came from OEX exchange as it contributed a total of $49 million via trade pair TRX/ETH and held 24.73% of the total trade volume.
1-hour

The downtrend for the one-hour chart is seen ranging from $0.0310 to $0.0262, with no uptrend in sight. The support at $0.0254 has been tested multiple times and is still holding strong. The prices for TRX are bouncing from the aforementioned support and the resistance point at $0.0283.
The Parabolic SAR markers are seen spawning above the price candles, indicating a bearish pressure for TRX.
The MACD indicator shows MACD and the signal lines creeping closer to each other, signaling a cross over to the bottom – bearish crossover.
The Awesome Oscillator shows the same sign as the above indicators, which is bearish since the lines are formed below the zero-line, indicating a reduction in the momentum of the prices.
1-day

The one-day chart for TRX shows an uptrend that ranges from $0.0129 to $0.0253, while a downtrend that extends from $0.0498 to $0.0294. The support at $0.0119 is holding the prices above it. The resistance at $0.0267 was breached recently by the bulls, however, the bulls couldn’t hold it there and prices have now fallen below it again.
The MACD indicator shows a bearish crossover that is about to fall below the zero-line indicating a strong bullish pressure for TRX in the longer time frames as well.
The Stochastic indicator shows the same as the MACD i.e, a bearish cross over.
The Chaikin Money Flow indicates that money is flowing out of the market since the CMF line is collapsing below the zero-line.
Conclusion
The one-hour chart for TRX shows trend reversals as spotted by indicators SAR, MACD, and AO. The one-day chart shows the same as the one-hour – bearish pressure. The indicators in MACD, Stochastic and CMF, all indicate a bearish pressure for TRX.
The post Tron [TRX/USD] Technical Analysis: Bears snatch the short-term rally from bulls appeared first on AMBCrypto.
Source: AMB Crypto

Tron [TRX/USD] Technical Analysis: Bulls help the price to breach through the immediate resistance

Tron [TRX] is pushing Ethereum out of the stage as it is better at scaling and is performing splendidly in terms of Dapps. The ninth-largest cryptocurrency in the world [by market] seems to be doing better than other cryptocurrencies.
The market cap of TRX is shy of $200 million to reach the $2 billion mark and the price at the time of writing was at $0.0270. The 24-hour trading volume of TRX was at $221 million.
1-hour
Source: TradingView
TRX prices show no sign of stopping now since they’ve broken the support at $0.0267, whereas the support line at $0.0212 has held the prices steady so far. The uptrend for TRX extends from $0.0215 to $0.0237, while the downtrend ranges from $0.0328 to $0.0273.
The MACD indicator shows a bullish crossover over the zero-line and is heading towards the upside. The histogram is slowly representing the same.
The Awesome Oscillator shows a failed attempt at a bearish crossover as the green bars are extending in height, indicating an increase in momentum and hence, an increase in the price.
The Parabolic SAR markers are seen forming below the price candles, supporting and pushing the prices to go higher.
1-day
Source: TradingView
The MACD indicator shows a possibility of a similar scenario as seen in the one-hour chart, a bullish crossover as the MACD and the signal lines are eerily close to each other.
The Stochastic indicator shows a perfect bullish divergence as the prices are rising continuously but the Stochastic shows a decreasing trend. The trend for Stochastic was changing at the time of writing as it was undergoing a bullish crossover as well.
The Chaikin Money Flow shows a negative indication as the money moving into the TRX markets is low and not coinciding with the bullish trend.
Conclusion
The one-hour chart is lit with bullish signals as indicated by the SAR, MACD, and AO indicators. The one-day is also showing promising signs for Tron in the future as indicated by the MACD, CMF, and Stochastic indicators.
The post Tron [TRX/USD] Technical Analysis: Bulls help the price to breach through the immediate resistance appeared first on AMBCrypto.
Source: AMB Crypto

Tron [TRX/USD] Technical Analysis: Bears pressure the bulls out of the scene

Tron has been known to defy the market trend on multiple occasions and it was doing the same at the time of writing. The prices of Tron are up by 4.15% with a market cap of $1.74 billion while the 24-trade volume is at $248 million.
Most of the trade volume for TRX comes from the exchange Upbit, a Korean exchange via the trading pair TRX/KRW.
1-hour
Source: TradingView
The one-hour chart for Tron shows an uptrend that extends from $0.0215 to $0.0237, while the downtrend extends from $0.0328 to $0.0264. TRX prices have moved away from the support at $0.0212 and towards its imminent resistance point at $0.02678. The subsequent resistance point can be seen at $0.0328.
The Parabolic SAR indicator indicates a bearish move as the markers have spawned above the price candles.
The MACD indicator has finished a quick bearish crossover and seems like it might undergo another crossover, but a bullish one, unlike the recent crossover.
The Awesome Oscillator shows a decreasing momentum as the bars are reducing in size and the bars are transitioning from red to green bars.
1-day
Source: TradingView
The one-day chart shows a small uptrend that extends from $0.0132 to $0.0215 while the uptrend extends from $0.0287 to $0.0725. The support at $0.0120 is holding good even in the longer one-day time frame. The resistance line at $0.0268 was breached briefly as the price moved above it and has now come back down again.
The Aroon indicator shows a crashing uptrend that has reached the zero-line, while the downtrend line has failed trying to come back up.
The Chaikin Money Flow shows a crashed CMF line to an oversold zone. The money for TRX is flowing out of the market.
The Relative Strength Index shows a slightly higher buying momentum as the RSI line has crossed above the 50-line.
Conclusion
The SAR, MACD, and AO indicators all indicate a bearish aura hanging over Tron in the one-hour chart. The one-day chart for TRX shows a sideways trend as indicated by Aroon, CMF, and RSI markets.
The post Tron [TRX/USD] Technical Analysis: Bears pressure the bulls out of the scene appeared first on AMBCrypto.
Source: AMB Crypto

Tron [TRX/USD] Technical Analysis: Booming asset takes a break fighting the bears

Tron, the ninth-largest cryptocurrency has been performing better than every other cryptocurrency even in the brutal bear market. The price of TRX, at the time of writing, was at $0.0252 with a market cap of $1.68 billion.
The 24-hour trade volume for Tron is $313 million and most of it is contributed by Korean exchange, Upbit via trade pair TRX/KRW. Upbit contributes a total of 13.17%. Following it is Binance which contributes a total of ~24% via trade pairs TRX/USDT and TRX/BTC.
1-hour
Source: TradingView
The one-hour chart shows an uptrend that extends from $0.0215 to $0.0254 while the downtrend extends from $0.0328 to $0.02566. TRX bounced off the support at $0.0212 that was created by the dip in prices on January 13, 2019. The resistance points for TRX in the shorter time frame can be seen at $0.0267 and $0.0328.
The Parabolic SAR markers have spawned above the price candles, indicating a bearish pressure for the prices.
The MACD indicator is also indicating the same trend, i.e, a bearish crossover to the bottom. The histogram has shifted to red bars below the zero-line.
The Awesome Oscillator shows decreasing red bars that are getting closer to the zero-line indicating that the prices are decreasing steadily.
1-day
Source: TradingView
The uptrend in the one-day time frame shows that it extends from $0.0132 to $0.0215 while the downtrend ranges from $0.0725 to $0.0287. The prices are supported at $$0.0120 but the resistance points are seen hanging at $0.0268 and $0.0496. The former resistance point was breached January 8, 2019.
The Aroon indicator shows a prevailing uptrend as indicated by the Aroon green line. The Aroon red line has hit the zero-line indicating that the downtrend has exhausted.
The Chaikin Money Flow shows that money is flowing out of the market and that the sellers are dominating the market for Tron.
The Relative Strength Index shows the same as CMF as the RSI seems to be stuck in the middle indicating that the buying momentum and the selling momentum for Tron markets are balanced.
Conclusion
The one-hour chart for TRX is nothing but bearish indicated by SAR, MACD, and AO indicators. The one-day time frame shows a bearish trend as well, with Aroon, RSI and CMF indicators.
The post Tron [TRX/USD] Technical Analysis: Booming asset takes a break fighting the bears appeared first on AMBCrypto.
Source: AMB Crypto

Tron Price Analysis: TRX Sellers Angling at ATLs of Jan 24

Despite update of Tron Mainnet via Odyssey 3.1, the launch of a one-in-all developer suite and Justin Sun shills, TRX is likely to drain in days to come. Like in most coins, yesterday’s 10 percent depreciation is setting the pace for further lower lows. As such we recommend risk-off traders to sell on pull backs after our stops at Oct 7 lows were hit yesterday. First targets will be at TRX ATLs at Jan 24 lows.
Latest Tron News
Tron and Justin sun are synonymous. While Justin Sun is a good marketer often making headlines when he shills his coin and thrash Ethereum, none of his charms seem to be working at the moment. Though the market was expectant, waiting to see TRX build on the bull pressure after the launch of TVM and the update of Odyssey 3.1, TRX is still under immense bear pressure and tumbling.
Nevertheless, there is some bullish aspect to be gleaned from recent developments. The recent suite release for developers to hit the ground is overly positive. According to Tron, the objective is to allow dApp builders to easily deploy their creativity on the network.

New developer suite available: TronBox, TronGrid, TronStudio & TronWeb. Developers are now fully equipped to build the best Dapps on #TRON! We are also excited to announce that we officially enter the Smart Contract Era following #TVM main net new version https://t.co/fJXdb35JTy
— TRON Foundation (@Tronfoundation) October 9, 2018

The suite comprises of four major tools including TronGrid which links with Infura allowing developer faster access to the Tron network. On the other hand, TronBox works in a framework environment with a sole purpose of allowing users to test and deploy smart contracts. In fact, Justin Sun tweeted saying the new TVM is 200 times faster than Ethereum and 100 times cheaper than EOS.
Tron Price Analysis
Weekly Chart

 
Thanks to last week’s gains, TRX losses are not as deep like in most coins. On a weekly basis, TRX is down three percent but the consolidation is clear. From the weekly chart we notice that TRX is trading within a 1 cents range. There are strong  caps at 2.8 cents on the upside and 1.8 cents acting as support. Either way, the failure of TRX bulls to clear week ending Aug 12 losses means sellers are in charge.
Fact is the bear break-out bar of early August did confirm sell pressure. As such, our expectation was that bulls would rally above 3 cents. This would in turn ignite the next wave of bulls as 2018 losses are reversed. But, that is not the case. Considering the set-up, it’s likely that bears might end up driving prices below 1.6 cents inviting sellers who will then drive prices towards TRX ATLs.
Daily Chart

In the daily chart, our previous Tron price analysis no longer holds thanks to yesterday’s 12 percent loss clearing our stops below Oct 7 highs. This single bearish engulfing bar did neutralize our previous bullish projections. Even though we need to see a bear bar breaching and closing below 2 cents, it’s obvious that sellers are in prime conditions.
Therefore, considering the prevailing conditions and the expectations that prices might pull back today, we recommend risk off traders to unload at spot rates with first target at TRX ATLs of Jan 24.
However, conservative traders should wait until TRX prices dip below 1.6 cents. Afterwards, they can sell on pull backs with same bear targets.
Disclaimer: Views and opinions expressed are those of the author and aren’t investment advice. Trading of any form involves risk and so do your due diligence before making a trading decision.
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Source: New feedNewsBTC.com