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The Tron market has seen only a tiny price increase so far in today’s trading. As a result, its price action seems undecided on the daily chart. This opinion stems from the fact that the coin is trading between the lines of a trend-indicating technical indicator. Let’s try to see what may happen in this market shortly.
TRX Statistics:
Current Tron Value: $0.1169
TRX Market Cap: $10,216,548,670
Tron Circulating Supply: 87,299,789,522
Tron Total Supply: 87,299,801,177
TRX CoinMarketCap Rank: 13
Key Price Levels:
Resistance: $0.1200, $0.1300, and $0.1400
Support: $0.1100, $0.1000, and $0.0900
Tron Still Appears Vulnerable as It Trades Above the 20-Day EMA Line
The Tron token has seen less than a 1% price increase so far in today’s trading activity. The market had corrected minimally downward off the 50-day EMA line over the past two sessions but has rebounded slightly in today’s trading. The last price candle representing today’s trading activity now lies between the 20, 50, 100, and 200-day EMA curves.
Meanwhile, the curves of the Moving Average Convergence Divergence (MACD) indicator can still be seen below the centerline of the indicator. However, these lines are showing a slight upward trajectory below the equilibrium level. Also, the bars of the indicator can still be seen above the equilibrium level, despite their pale green appearance.
TRX/USDT Upside Traction May Strengthen
In the Tron 4-hour market, it appears that upside prospects in this market may gain more momentum as trading activity continues. The current session in this market timeframe has appeared above all the EMA lines, unlike what was earlier perceived on the daily chart. Likewise, the 200 and 20-day EMA lines can be seen delivering a crossover below price activity.
Meanwhile, the MACD lines are above the equilibrium level and are starting to turn sideways, indicating that downward forces are weakening. Consequently, it appears that bullish momentum may strengthen, maintaining the relevance of the use of bullish crypto signals in this market towards the technical resistance at the $0.1180 mark and perhaps through it.
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