Tron [TRX] Technical Analysis: Bear attack imminent as coin struggles to maintain top-10 position
Tron [TRX] has held its mantle on the tenth position on the CoinMarketCap list. Even though December 7 changed the trends of the major coins, TRX maintained its standing on the board. Currently, the coin appears to be nearing green pastures.
According to CoinMarketCap, the coin was valued at $0.013, with a market cap of $873 million. However, the coin plunged by 4.5%, registering a 24-hour trade volume of $101 million. The coin saw a miniscual growth of 0.7% in the past one hour.
The one-hour chart for TRX shows a downtrend from $0.0145 to $0.0122. After which an uptrend is observed till $0.01284. The coin meets an immediate resistance at $0.0137, whereas, it has a strong support at $0.01229.
Parabolic SAR indicates a bullish market as the markers is under the candle.
Awesome Oscillator too marks a bullish market, with a reducing momentum.
Chaikin Money Flow, on the other hand, points towards a bearish market as the money is flowing outside the…
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