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Tron price analysis: Bearish strike impacts uptrend, as price goes down to $0.104

Tron price analysis Bearish strike impacts uptrend as price goes down to

TL;DR Breakdown

  • Tron price analysis is bearish today.
  • A drop in price detected up to $0.104.
  • Support is still strong at $0.103.

The Tron price analysis reveals bears are in the lead for TRX/USD price movement today. A decline in price has been observed again today, as the bears have successfully taken over the price function by dodging the bullish trend that was persistent for the past few days, and bulls were continuously dominating the price function.

The TRX/USD has been on an upwards slope since 19th November as bulls managed to heighten the price up to the $0.107 level spiking up to $0.109 at times, and managed to maintain their lead for three days. Prior to the mentioned bullish trend, the coin also went through severe losses on 16th and 18th November following the market crash. However, today is another day the bears have managed to take the lead.

TRX/USD 1-day price chart: Tron sheds two percent more

The 24-hour Tron price analysis shows that bears have again overtaken the price function today after yesterday’s bullish activity. The TRX/USD pair is trading in the range of $0.101 to $0.107 today, and the TRX/USD is trading hands at $0.104 at the time of writing, losing almost 1.93 percent in today bearish strike. Tron also shows more than 16 percent loss over the past week due to two steep declines observed earlier during the week.

Tron price analysis: Bearish strike impacts uptrend, as price goes down to $0.104 1
TRX/USD 1-day price chart. Source: TradingView

The volatility is comparatively high for the crypto pair, with the upper Bollinger band at $0.119 and the lower band at the $0.097 mark representing support for TRX; the average of the Bollinger bands is forming at the $0.108 mark, above the price level as the price is trading towards the lower band indicating a bearish dominance.

The relative strength index (RSI) is hovering at the center of the neutral zone at index 48, the indicator shows a downwards slope, indicating the selling activity in the market, but the mid-range of the indicator shows quite much room for both sides of the market, especially the bearish side for intense selling activity which may cause a further drop in the price.

Tron price analysis: Recent developments and further technical indications

The 4-hour price chart for Tron price analysis further confirms the bearish strike. As bears successfully diverted the price function in their favor today, and the price dropped steeply during the first four hours, but during the proceeding hours, bulls managed to ride on the price function by swiftly taking over as buyers support came in and the coin rejected further downside below $0.102 level, Bulls have been leading the price function for the past 10 hours, but yet the recovery is slow.

Tron price analysis: Bearish strike impacts uptrend, as price goes down to $0.104 2
TRX/USD 4-hours price chart. Source: TradingView

As can be seen on the 4-hour chart, the volatility has slightly decreased, and the relative strength index (RSI) has slightly improved as well, though still in the lower half of the neutral zone, but is trading on an upwards slope at index 46. The moving average is trading above the price level at the $0.105 mark.

Tron price analysis conclusion

The Tron price analysis suggests the price of the TRX/USD pair may improve further as the market sentiment is slowly shifting towards the positive side. However, the price oscillation is slow, and the recovery is expected to remain low as well for today.

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.

Dennis Mugambi

Dennis Mugambi

Dennis is a content writer with a deep understanding of the blockchain domain and cryptocurrency field. He infuses cold data with flair to make technology and finances mind-blowing. His reports both fascinate and awaken the readers.

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