Tron [TRX] Could Soon Be Making Its Way Onto $0.2

Tron [TRX] Could Soon Be Making Its Way Onto $0.2

Volatility had taken over the crypto-verse. While almost all the coins were seen on an uptrend, Tron [TRX] was probably the only asset recording dainty changes in its price. Binance coin [BNB] was undoubtedly headed towards $500 as the altcoin witnessed a 12% surge in the last 24-hours. The price of Bitcoin [BTC] was finally recovering and was trying to make it onto $59K. Despite this, the dominance of the king coin over the market was at a low of 55%. The overall market cap of the crypto industry was once again at $1.99 trillion.

Justin Sun’s cryptocurrency, Tron [TRX] observed significant growth in terms of price as well as market cap. TRX was close to hitting the 30th position on CoinMarketCap’s list, however, over the last couple of days, the altcoin rose in terms of market cap. With a market cap of $8.49 billion, TRX currently stands as the sixteenth largest coin. At the time of writing, TRX was trading for $0.118 with a 0.26% drop in the last 24-hours. This week seemed to be extremely beneficial for the altcoin as it bagged 31% worth of gains.

While the asset still has a long way to its all-time high of $0.30, the entrance of the bulls into its market could fasten the pace.

Tron [TRX] One-Hour Price Chart On Binance

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The Awesome Oscillator indicator used in the short-term price chart of TRX exhibited bullish signs with the formation of red closing bars. However, these bars were rather dainty. The MACD indicator mirrored this sentiment by going in for a bearish crossover. The Relative Strength Index [RSI] was noted in the sellers’ arena as the marker was below 50 median.

Tron [TRX] One-Day Price Chart On Binance

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With dotted lines below the candlesticks, the Parabolic SAR indicator used in the one-day price chart announced the presence of bulls in the TRX market. The Chaikin Money Flow indicator was over the zero median exerting strong bullish momentum. The Money Flow Index [MFI] indicator revealed that TRX was being overbought.

Published at Fri, 09 Apr 2021 17:05:30 +0000