- Tron is on its way to $0.028.
- The Tron price at 19:00 GMT was at $0.026.
- The bearish movement has been picking up.
- Tron went from bullish to bearish in a year.
At 19:00 GMT, at the time of writing, Tron (TRX) had plummeted to $0.026. TRX/ USD opened up at $0.032 but it is now heading towards $0.028.
Tron Price Prediction: 1 day overview
The Moving Average Convergence Divergence (MACD) indicator demonstrates the significant bearish action. The MACD indicator gets denser over the day to showcase how much the bearish movement is picking up.
From 01:00 am GMT, TRX started showing bearish action at a -74 degree angle.
At 03:00 am GMT and 6:00 am GMT, you can see that TRX was pushing for bearish action. The MACD goes from -0.000388 at 01:00 am GMT, but the density increased to -0.000856 at 03:00 am GMT.
By 08:00 am GMT, the MACD was at -0.001605 and has become even denser, suggesting an acceleration in the bearish action leading the coin to $0.028.
Tron price prediction: 1 hour overview
Looking more closely at the action between 17:00 GMT to 18:00 GMT, it is clear that although there was some volatility, the coin was still experiencing bearish activity.
The Bollinger Bands (BBs) indicate price falling towards the Lower BB level and then, once again, rising. This indicates that the price fluctuates between bearish and bullish, with signs that TRX price will rise to the BB Basis mid-line.
The BB Basis mid-line appears to be steady within this hour, but it is clear that $0.028 is in sight.
Tron price prediction: 1 month chart
Looking at the 1-month chart shows a slightly different picture. The BBs show how the TRX price was set to reach the acclaimed $0.04 price and exceed the indicated resistance level.
There had been increased volatility as the coin gained bullish momentum. Towards the end of last month, the BB Basis mid-line was pretty steady until the 22nd of November, where the price was operating at $0.027.
There was steep bullish movement up until the resistance level at $0.39.
The MACD is dense from the 22nd, which points to high bullish momentum until the 24th of January. The BB Basis mid-line becomes bearish, and the waves are steadier after reaching the resistance level.
The MACD turns red to show a turn for the worse today. We can see now that the movement was very bearish and different from other days.
The change could be due to increased speculation around what Trump’s final policies will be. Trump’s announcement last week for new regulation against crypto wallets had a negative toll on all cryptocurrencies including Tron.
The effect of Trump’s announcement on Tron in comparison to other coins seems greater which is not surprising because it is one of the newest digital currencies. As such, it hasn’t amassed as many loyal investors as other cryptos. Tron only launched 2 years ago.
Tron price prediction: 1 year overview
Looking at the one year chart paints a slightly different picture. The MACD has been showing fluctuations between bullish and bearish movement throughout the year but mostly bullish movement.
From March 2020 to September 2020, the BB Basis mid-line has been oscillating but is mostly bullish. There is a 33-degree angle of bullish momentum till the resistance level of the notorious $0.05 price level many dreamed of.
The bullish action recently was likely due to the pandemic. More people have turned to gaming amid Government lockdowns.
Tron’s partnership with Refereum, set up earlier this year, allows gamers to earn TRX coin rewards.
Despite the bullish movement, there is reoccurring bearish momentum in September, October, and November suggesting Tron is surprisingly plummeting down to $0.028.