- TRON price analysis shows that the market is balanced yet slightly bearish.
- The price is hovering between $0.104426 and $0.105276 in the last 24 hours.
- A strong competition is on-going between the bulls and the bears.
- The market is expected to become bullish in the next few hours.
- Not the best time for a short-term investment due to high uncertainty.
Today, the TRON market is showing slightly bullish tendencies, yet the resistance is taking over, although it seems to be struggling to retrace yesterday’s dip. Between 16th and 17th, TRON underwent a period of bearish engulfing. Now it might take a while before the coin manages to retrace.
Overall, the crypto heat map of the entire market shows bullish sentiments. Except for a few altcoins, all major crypto coins such as Ethereum (0.75 percent) and Bitcoin (1.98 percent) are marking an increase.
The 1-Day graph of TRON price analysis gives us a good picture of the ongoing war between the bulls and the bears. It looks like the bulls are struggling to push the market up, but the resistance is just too high to tackle.
The RSI, however, shows significant stability at 54.65. Moreover, the MACD analysis shows an impending crossover, which is bound to shift the market further down.
24 Hours price movement of TRON – Slightly bearish in a neutral market
Just 24 hours ago, the price of TRON closed at $0.104426. In comparison, there is not much difference between that and the current price of $0.105276. While the price did go up during some bullish periods, it is mostly hovering around these values.
Currently, TRON has a market cap of $7.06 billion with a market rank of 26. Furthermore, the trading volume has gone down by 43.72 percent compared to yesterday, with a volume to market cap ratio of 0.1919.
On the 1-Hour TRON price analysis chart above, the RSI indicates that the market in the current hour is quite oversold. Sellers seem to be rushing in to sell due to fears of further dips in the price, causing a bearish sentiment. However, that is expected to stabilize in the next few hours.
The MACD also indicates a slow yet certain take over by the resistance. However, this is not something that the bulls cannot overcome soon.
TRX/USD 4-Hour Price Analysis – Bulls may overcome bearish sentiments
The 4-Hour graph of TRON price analysis gives us a much better viewpoint. The bulls are trying hard to counter the increasing pressure from the bears. The RSI, albeit in the balanced region, is slowly moving towards the oversold side.
On the other hand, the MACD analysis gives us some hope as the strength of the histograms, despite being in the reds, is slowly decreasing. The curves hint towards a possible crossover in the next few hours, possibly causing a shift.
TRON price analysis: Conclusion
All indicators suggest that the bulls are still in action and the market is currently stable. While it is expected for the bulls to take over, resulting in improved price, nothing is too certain yet. The market could very well undergo another bearish dip. Hence, it might not be the best time to make any short-term investments due to all the uncertainty.
While the TRON market undergoes its set course, how about you read our updated guides on crypto mining?
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.