Tron [TRX/USD] Technical Analysis: Cryptocurrency struggles to get out of the shadow of bear
The cryptocurrency market has been undergoing a tumultuous run with the proverbial ball in the bear’s court right now. Popular cryptocurrencies like Bitcoin [BTC], Ethereum [ETH] and Tron [TRX] are all undergoing a bullish spike right now in an overall bearish atmosphere.
The one-day Tron [TRX] chart shows an uptrend and a downtrend that has designed the price movement. The uptrend saw the prices rising from $0.0224 to $0.0248, while the downtrend saw the price falling from $0.0248 to $0.0232. The support for the cryptocurrency has been holding at $0.0215.
The Parabolic SAR has been a mixture of bearish and bullish signals with the current scenario leaning towards the bear. The slip from Tron’s price peak was marred by bearish drops indicated by the markers above the price candles.
The Relative Strength Index has been tending towards the oversold zone, indicating the selling pressure being more than the buying pressure.
The one-day graph shows an acute downtrend…
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