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TRON Price Analysis: SMA-20 Is Below Than Other Two, Purchase 

TRX
  • The 24 hours trading volume of the token was 674,181,619 and a gain of 4.61% was seen. The live price of TRON is $0.05832
  • The token has been showing a pattern of engulfing bearishness.
  • The RSI oscillator for TRON shows the NEUTRAL action.
Tradingview

The TRON has been running well below its 200 days moving average and also below its 50 days moving average. The chart above shows the movement of the token with respect to SMA-20, SMA-50 and SMA-200. The token was unable to touch SMA-200 but SMA-50 was achievable at times. The trendline marked in the chart shows the movement of SMA-20 below SMA-50 and the time to buy the token is appropriate.

An RSI oscillator is also present in the chart which shows the proper time to buy or sell the token. RSI for the last 5 hours shows the value of 41.600 and marks the sell action. MA-5 shows the buy action but EMA-5 shows the sell. MA-10 and MA-20 show the sell action. However, the TRX at present is all set to buy. Which is expected to show a hike in price in the coming time.

The bull/bear power has the value of -0.0010 and shows the sell action. The high/low marks the neutral action with the value of 0.00.

Major altcoin like Tron were trending

As the BTC price tanked in the last 24 hours the major altcoins like CARDANO, AAVE or TRX were in the red. Many of them trailed below their crucial support levels awaiting a retracement. TRX recorded a decline of 8.9% in market price over the last week

The TRX-BTC pair is trailing at the level of 0.000001832 and the gain of 1.39% was seen whereas the TRX-ETH pair is trailing at the level of 0.00003012 and the gain by 0.25% was seen in the last 24 hours. The token has shown the percentage change by 1.21% since yesterday’s open.

The volume/market cap of the token is 0.1615 and its market dominance is 0.32%.

Conclusion: The days range for the coin is 0.057000-0.059610 and presently is at 0.058200. The token is expected to show a rise in the coming time and if you wish to purchase this token then long it as SMA-20 is below SMA-50 and 200. If you have already purchased the token then sell it if you have attained decent returns.

Technical Instruments:

Pivot: 0.058210

R-1: 0.058772

R-2: 0.059118

S-1: 0.057648

S-2: 0.057302

(Note- The unit is USD)