Tron [TRX/USD] Technical Analysis: Bears try to regain control with cryptocurrency struggling to side with the bull
The cryptocurrency market opened today, November 9, to almost all the cryptocurrencies seeing red. Popular cryptocurrencies like Bitcoin [BTC], Ethereum [ETH] and Tron [TRX] all witnessed a price bleed after a few days of price hikes. At the time of writing, there was a systematic fall across the cryptocurrency spectrum.
The Tron one-hour graph shows the cryptocurrency forming a triangle with the uptrend and downtrend acting as the slopes. The price uptrend saw the price rise from $0.0232 to $0.0247 while the downtrend saw Tron falling from $0.0248 to $0.023. The immediate resistance was holding at $0.0248, while the support has been maintaining at $0.0215.
The Parabolic SAR points to the price dropping which is evidenced by the markers being above the candles. This trend has been persistent for more than 24-hours.
The Chaikin Money Flow indicator shows the graph right at the axis, which still puts the cryptocurrency in the bullish zone. The fall from the top of the graph…
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