Tron Worth Evaluation: TRX Worth can take a look at bearish ranges

  • The Trx coin is currently returning to lower levels after hitting a 52-week high on February 12, 2020
  • Tron price is currently trading at $ 0.05407, up 16.90% in 24 hours and up 50.15% from last week.
  • The TRX / BTC pair is currently trading at the value of 0.000001145 BTC with an intraday gain of 2.63%

Source: TRX / BTC ON TRADING VIEW

Tron’s weekly chart highlights the “bulls are calming down” in today’s trading session. The current price of Tron is at $ 0.05407 with the main resistance at $ 0.65 and the support value at $ 0.45. The price hit a 52-week high in today’s trading session and may hit an all-time high. The trading volume of the coin in the last 24 hours is $ 4,394,119,640, which represents an increase in value of 54.20%. The TRX / BTC pair is an uptrend with a value of (0.000001145 BTC) that is up 2.63% in today’s trading session.

Technical Analysis by Tron (TRX)

The TRX technical diagram shows a positive run that is coming to an end. In contrast, the Tron price is included $ 0.05407.The coin has created a zone of demand between the price level of $ 0.048 and $ 0.045. Assuming the coin price breaks the demand zone and returns to a lower level, then the price loses all of its bottom. It would be difficult for the price to get back above the demand zone. The coin price is trading above the 50 and 200 exponential moving average. The blue line at 50 EMA is worth $ 0.03433 which is temporary support. The coin has been on a bull run for the past five days and formed a bearish pattern in today’s session.

The volume indicator with the value (57.70 m) reflects a sales volume in the coin. The sales volume is higher than average, which shows that the sellers are getting active in the coin.

RSI(Bearish): It is trading at a value of 77.71, indicating its presence in the overbought zone. A negative slope is forming in the RSI, which shows that the price may have lower levels in the coming days.

Conclusion

The Tron price is up as much as 17.70% in today’s trading session and the TRX / BTC pair is up 2.63%. One can wait for the price to test the demand zone. An investor should do their due diligence before investing in TRX.

Technical levels

Main Resistance: $ 0.065

Main support: $ 0.045

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