Tron [TRX/USD] Technical Analysis: Cryptocurrency struggles to escape red zone
Tron [TRX], now the tenth-largest cryptocurrency after taking over IOHK’s Cardano [ADA] is currently running the tough miles to escape the red capes.
At press time, the token had slumped by 5.9%, trading at $0.013 with a market cap of $903.9 million. The total trading volume in the past 24 hours is observed at $70.3 million.
In the 1-hour time frame, the TRX candlesticks are experiencing a slight downtrend that ranges from $0.016 to $0.015. Here, the uptrend is steeper than the downtrend and is extending from $0.018 to $0.013. There is no major possibility of a trend breakout at this point.
The Parabolic SAR has turned its back on a positive price prediction as the dots have switched sides to lay above the candlesticks, pushing the price down.
The Relative Vigor Index is also bearish on the case as the RVGI continues to slump after making a bearish crossover by the signal.
The Aroon indicator has denied suggesting the fate…
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