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TRON Price Analysis: Tron In The Channel 

TRON Price
  • Tron is trading at $0.057 around 3.39% down from the  previous level
  • Tron is trading in the channel and forming rounded top
  • Tron is trading at 0.000001824 BTC around 0.27% up and 0.00003041 ETH around 0.53% up with respect to bitcoin and ethereum
Tradingview

Tron was launched in 2018 by Justin Sun. The coin has the market capitalization of $5,836,044,736.06 and the circulating supply of 71.66B TRX. The coin is showing flat volumes on the charts which tells that the coin is in the rest mode. Last 24 hrs volume of the coin is $645,144,482

CHART ANALYSIS 

On charts we get to know that the coin is trading in the channel and also forming a rounding top pattern inside the channel. The coin takes resistance from the upper range of the channel. If the coin breaks the rounded top pattern then the coin will fall all the way to the lower range of the channel. We can see that the coin is forming the bearish engulfing pattern as well

INDICATOR ANALYSIS

TRadingview

According to indicator analysis we get to know that that 200 DEMA is trading very near to 50 DEMA if they both cross each other then more fall can be expected in the coin. The coin is trading below its all moving average. 20 DEMA also acting as resistance for the coin 

RSI is trading neutral at 37.77 very near to its oversold region. No sign of any divergence in the coin 

In MACD we saw the Signal line crossed the MACD line. Which shows the bearishness in the coin.

Major support and resistance in the coin are

S1= $0.05727   AND  S2= $0.04244

RI= $ 0.06937  AND   R2= $0.08459