TRON, at the time of writing this article, was trading at $0.01707 and has retained support from 50-day and 200-day MA. However, it has been quite commendable the way TRX coin has recovered from the latest market crash that happened in the recent past wherein the coin retested support at $0.01516. Within just 2 days, the price of TRON has reclaimed above $0.017, which helped regained daily support thereby.
Fortunately, TRON is amongst those coins that have experienced an accelerated growth after the recent crash on the daily chart. The 20-day Bollinger Bands are seen slowly widening which and the price trend of TRX is already hitting the upper band, which shows amazing intraday recovery and also projects moderate volatility in the upcoming days. More importantly, TRON has already restored its trading range from where it started reading at the onset of 2020, despite the economic standstill due to Coronavirus.
On the daily chart, TRX/USD is drawing a subtle yet notable uptrend and has also breached the flattish momentum after persistently trading above $0.0145. However, the major support to watch out for lies amidst the price range of $0.0145 to $0.0165, and the MACD is appearing flat due to lack of steady momentum. But, due to intraday recovery, the RSI of TRX coin is already hitting around the overbought zone due to intraday rebound and recovery at 61.73.
/ 2 months ago
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