- TRON, at the time of penning down, was seen having a steep fall from the 90-day high trading price of $0.0268 to currently being around $0.020
- The price of TRX is appearing towards the daily 50-day MA as the nearest support which lies within the 20-day Bollinger Band width
- Price of TRX coin drops from 61.80% Fib Retracement Level exposed to moderate market volatility
TRON coin breaks the rising trend as the price experiences a steep fall, and it loses over 25% compared to the 90-day high price. TRX/USD gradually hits below 61.80% Fib Retracement Level after breaking through the upper 20-day Bollinger Band. Just as Bitcoin continues to trade below $10,000 for the third day in the row, the altcoins turn red. Irrespective of directly influenced or not, the momentum gets dumped as the market crashes.
Tron Price Analysis
Taking a glance at daily movement of TRX against USD on Bitfinex, we see that the coin is experiencing an unpredictable pullback even after the “golden crossover” that has happened recently on a daily chart. TRON price, after hitting a 7-month high, lost the gained momentum as it slid below the short-term support at $0.025 and $0.023. The 20-day Bollinger Bands exhibit a moderate width and it projects towards slight volatility in the upcoming days. The intraday appears notably bearish as TRX price hits the lowest at $0.0192 in the past 24 hours.
Aligning the effects of intraday bearish crossover, we also see a bearish divergence as the Signal line crosses above the MACD line of Tron.
Similarly, the RSI of the coin is also seen sliding below the overbought region at 46.86.