- The TRON price analysis shows bearish nature.
- Support is present at $0.084 while resistance is found at $0.094.
- TRON bulls are looking for a chance to revive uptrend
The TRON price analysis is showing bearish momentum. Bulls showed some performance at the start of the day when they took the price of TRX/USD up to $0.094 level in the early hours, where it met resistance and bears took over, and the price started getting down with every passing hour during the entire day.
The bears stooped the price down to $0.086 at the time of writing as selling pressure continuously increases over time, and more and more traders are selling off their assets.
The TRX/USD pair lost a value of 6.4 percent during the last 24 hours and about 15 percent over the course of the last seven days.
TRX/USD 1-day price chart: TRX devalued 6.4 percent in 24 hours
The 1-day TRON price analysis chart reveals the TRX/USD is under selling pressure today. Bears are dragging the price down successfully as bears reversed the bullish uptrend of the last two days. This is a massive decline in cryptocurrency value. The price has gone down significantly as TRX lost more than six percent value today. The support of $0.084 seems strong.
Furthermore, the volatility is high as the Upper end of Bollinger bands is at the $0.10 mark and the lower end is at the $0.078 mark, respectively. The moving average (MA) is at the $0.096 mark, and the Bollinger bands average is at the $0.091 mark.
Both the averages are above the price level. The relative strength index (rsi) is also below the centerline, moving further below at a score of 47, further marking bearish uphold.
TRON price analysis: TRX continue losing strength, to retest the support at $0.084
The 4-hours TRON price analysis report shows a decline in coin value as one after one red candlesticks are appearing on the hourly chart for bears. The bears are on route to retest the support present at $0.084. The volatility is decreasing, which might be helpful for TRX.
The Bollinger bands end are traveling towards each other, with the upper band present at the $0.098 mark and the lower band present at the $0.083 mark. The Bollinger bands average is at the $0.09 mark above the price level.
In contrast, the other important indicator moving average (MA), is present at the $0.092 mark that also above the price level marking a bearish cycle. The relative strength index (RSI) has gone down near the critical undersold level and shows a score of 36.
Further going deep in the TRON price analysis, the technical indicators show a mostly neutral trend with a little deviation towards the bearish side. Out of 26 technical indicators, nine are on the selling side, and seven are on buying side, whereas 10 stand neutral.
The moving averages are perfectly neutral, with seven indicators each on buying and selling side while one stands neutral. The oscillators indicate bearish signals as two indicators are on the selling side and zero on the buying side, and nine stands neutral.
TRON price analysis: Conclusion
From the above 1-day and 4-hours TRON price analysis, it can be perceived that Tron is on a bearish slide. Though price value has decreased significantly, the price can still go further down the hill if selling pressure sustains. The support level of $0.084 is a crucial point in determining the future of the TRX/USD pair.
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