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Tron price analysis: Bullish momentum retrieves price back to $0.0644 high

Tron price analysis Bullish momentum retrieves price back to high

TL;DR Breakdown

  • Coin value has been recovered to $0.06.
  • Tron price analysis confirms uptrend.
  • Support is quite stable at $0.052.

The latest Tron price analysis leads the bulls as the price has undergone a considerable recovery during the past 24-hours. Although the bears tried to secure the winning position on the price chart by lowering the coin value, the recent progress has been bullish. This is a promising sign for cryptocurrency buyers, as the price is again touching the $0.064 mark. Further recovery seems quite close as the buying momentum intensifies at a continuous rate.

TRX/USD 1-day price chart: Price upgrades to $0.064 after bullish drift

The daily Tron price analysis shows a bullish inclination as the buying activity has been on the rise for the past 24-hours. Earlier, a downward wave dominated the market as the bulls were facing strong resistance from the bearish side, But now it seems that the price trends are once again changing in favor of the buyers. The coin value has been enhanced up to the $0.0644 mark. The price is still at a lower point than its moving average (MA) value which is at $0.066.

Tron price analysis: Bullish momentum retrieves price back to $0.0644 high 1
TRX/USD 1-day price chart. Source: TradingView

The volatility is also increasing, which on the contrary, is not an encouraging hint for the buyers regarding the upcoming price trends. Similarly, the upper edge of the Bollinger bands indicator now rests at $0.071 while its lower edge settles at $0.052. At the same time, the Bollinger bands indicator displays an average of $0.062.

Tron price analysis: TRX/USD value returns to $0.064 after bullish uplift

The four-hour Tron price analysis confirms an increasing trend as the price has covered an upward movement in the past few hours. This can further be confirmed from the four-hour price chart, where the green candlesticks indicate a rise in coin value. The bullish momentum has successfully rescued the price above the $0.064 margin, and it seems like the bulls are going to achieve their next target soon. Meanwhile, the moving average in the four-hour price chart rests at $0.064 position.

Tron price analysis: Bullish momentum retrieves price back to $0.0644 high 2
TRX/USD 4-hour price chart. Source: TradingView

The volatility is rising as the Bollinger bands are diverging, which is a bearish indication of the upcoming price trends. The upper value of the Bollinger bands indicator is now at $0.072, whereas its lower value is at $0.0619. The RSI score has increased to 40.94 because of the latest upturn in the price.

Tron price analysis: Bullish momentum retrieves price back to $0.0644 high 3
TRX/USD technical indicators chart. Source: TradingView

The given technical indicators chart for TRX/USD confirms the bearish supremacy as the price has been continually following a downward trend for the past few weeks. This is being further substantiated by the indicators’ ratio, which shows 12 indicators on the selling mark, eight indicators on the neutral, and six indicators on the buying mark.

The moving averages indicator displays a selling signal because of the bearish price trend. Ten indicators are settling on the selling side; four are present on the buying side, while only one is there on the neutral side. The Oscillators are dictating a neutral hint regarding the ongoing market trends. There are seven oscillators on the neutral point, while two indicators are present on both of the selling and buying points.

Tron price analysis conclusion

The one-day and four-hour Tron price analysis predicts an upward trend for the cryptocurrency as the buying activity rises. The bulls have managed to escape the bearish shadow by upgrading the coin value to a $0.0644 high point. The hourly price chart displays green candlesticks and the market value of TRX/USD, which has increased during the past four hours.

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.
Aamir Sheikh

Aamir Sheikh

Amir is a media, marketing and content professional working in the digital industry. A veteran in content production Amir is now an enthusiastic cryptocurrency proponent, analyst and writer.

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