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The volatile market price of cryptocurrency has left many investors and users gaping as the downward trend continues. The mbadive downfall has even affected popular crypto-currencies like Bitcoin [BTC], XRP, Ethereum [ETH] without respite to be seen anywhere. Tron [TRX], on the other hand, has skyrocketed recently with a strong bullish rise on February 4.
1 hour:
Tron's one-hour chart is a mix of bearish and bullish signals, with the recent spike appearing clearly on the chart. The uptrend lifted the price from $ 0.0257 to $ 0.0286, while the subsequent downward trend lowered the price from $ 0.0286 to $ 0.0272. Support was $ 0.024 and resistance was $ 0.0286.
The Chaikin Money Flow indicator is located below the zero line after a noticeable fluctuation. The reservation below the line shows that the capital entering the market is lower than the capital leaving the market.
The MACD indicator is above the histogram after the signal line and the MACD line has undergone a bearish cross. The histogram is again a mixture of bearish and bullish signals.
One day:
Tron's daily chart shows a significant upward trend that has pushed the price up from $ 0.0131 to $ 0.029. Support was maintained at $ 0.0119.
The relative strength index is closer to the overbought area after the recent bullish spike. This is a sign that the pressure of buying is greater than the selling pressure.
The Awesome Oscillator has raised the graph, which means that market dynamics have increased in the market.
Conclusion:
The above-mentioned indicators paint a picture of a crypto-coin between taking the bear and the bull. Tron can still keep the glow of hope: he has become one of the biggest winners of last week.
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