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Tron price analysis: TRX fluctuates under the $0.0650 mark

TRX

TL;DR Breakdown

  • Tron price analysis is bearish today.
  • The strongest resistance is present at $0.0867.
  • The strongest support is present at $0.0622

Tron price analysis for January 11, 2022, has revealed a bearish market for the cryptocurrency with good chances of a reversal in the coming days. The cryptocurrency has experienced a massive decrease in value in the last couple of days following its hike to the $0.0669 mark. On January 10, 2022, the price was $0.0669, and it decreased to $0.614 on the same day. The next day the price significantly increased and went up to $0.646, which is the current price of Tron.

TRX/USD 4-hour price analysis: Tron expects bullish momentum soon

Tron price analysis reveals the market’s volatility at a standstill, which means the probability of variable change experienced by the TRX/USD value is neither increasing nor decreasing. The upper limit of the Bollinger’s band is present at $0.0691, which represents the strongest resistance for TRX. The lower limit of the Bollinger’s band is present at $0.0692, which serves as the strongest support for TRX.

The TRX/USD price appears to be crossing under the curve of the Moving Average, which indicates a bearish movement. Tron’s goal is to reach $0.0670 before February 2022. The TRX/USD price appears to be following an up-trend which may result in the price crossing over the Moving Average curve soon, which will cause the market trend to switch to a bullish one.

Tron price analysis: TRX fluctuates under the $0.0650 mark 1
TRX/USD 4-hour price chart source: Trading view

The Relative Strength Index (RSI) is 37, indicating a slightly undervalued stock. Still, the RSI appears to be following a stable, straightforward direction which suggests that the cryptocurrency will maintain its position until the RSI score fluctuates. The buying activity equals the selling activity, which causes the RSI score to remain dormant.

Tron price analysis for 1-day: TRX market expands volatility

Tron price analysis suggests that the market’s volatility appears to be following an upwards trend, which means that the probability of the value undergoing variable change will also increase with the volatility. The upper limit of the Bollinger’s band is present at $0.0867, which represents the strongest resistance for TRX. The lower limit of the Bollinger’s band is present at $0.0623, which serves as the strongest support for TRX.

The TRX/USD price appears to be crossing well under the curve of the Moving Average, which indicates a bearish movement. The bears are taking control of the market. The TRX/USD price appears to be following a declining pattern which may soon cross under the lower limit of the Bollinger’s band, causing a breakout in the market. This will result in a trend shift.

Tron price analysis: TRX fluctuates under the $0.0650 mark 2
TRX/USD 1-day price chart source: Trading view

The Relative Strength Index (RSI) is 26, which means that the cryptocurrency falls under the undervalued category. The RSI score has declined due to the strong selling activity significantly exceeding the buying activity. The RSI path shows opportunities for a trend shift soon, and the cryptocurrency will not stay undervalued for long.

Tron Price Analysis Conclusion

Concluding the Tron price analysis, we deduce that the bears have control of the market as of now. Tron shows a steady bearish momentum with a chance of a reverse trend in the next few days. All the observations of the charts point towards better days for cryptocurrency. The facts and figures acquired from the charts lead us to believe that the cryptocurrency will soon increase its value and reach its goal for February 2022 soon.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Narmin

Narmin

Narmin is a passionate fintech writer and blockchain enthusiast backed by extensive experience in psychology and statistics.

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