Tron [TRX] Price Setting up for Bullish Move?

2018-8-23 17:49

The altcoin market has been suffering recently. Even on days when Bitcoin records good performances, altcoins have been subject to downward movement. Tron is an altcoin which has typically been subject to more volatile price swings due to a constant stream of bullish announcements from the team. Recently, there has been a lack of these announcements, and the price has been dropping along with the rest of the altcoin market.

However, some signs are currently indicating that price may be bottoming out for TRX and we could have a bullish outlook in the short term from here. Both price and RSI are forming higher lows in the market, showing more buying pressure currently. We also have the MACD converging and crossing its signal line to the upside showing that the selling momentum is dropping off. Price is currently trading around the $0.021 mark.

Tron Daily Chart

We can see much of the same on the hourly chart with price and RSI forming higher highs and higher lows. The spike yesterday in Bitcoin’s price also saw a spike in Tron. We have since seen a retracement and price is trading sideways around $0.021. Although many signs are pointing towards future movements being bullish, the outlook is currently neutral given the sharp downswings the altcoin market has been experiencing.

Tron Hourly Chart

 Key Takeaways:

Outlook neutral Many bullish signs but given altcoins markets downward movements this year, traders should be cautious Both RSI and price forming higher highs and higher lows on the daily and the hourly charts MACD converging and forming a signal line crossover to the upside on the hourly DISCLAIMER: Investing or trading in digital assets, such as those featured here, is extremely speculative and carries substantial risk. This analysis should not be considered investment advice, use it for informational purposes only. Historical performance of the assets discussed is not indicative of future performance. Statements, analysis, and information on blokt and associated or linked sites do not necessarily match the opinion of blokt. This analysis should not be interpreted as advice to buy, sell or hold and should not be taken as an endorsement or recommendation of a particular asset.

Tron [TRX] Price Setting up for Bullish Move? was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

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TRON (TRX) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0.1171
Капитализация $0 Rank 99999
Цена в час новости $ 0.0218928 (-100%)

bullish tron price trx bitcoin subject move

Источник: blokt.com

bullish tron → Результатов: 26


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