TRON (TRX) Price Grows By 2.60% in 24hrs but its Trend Remains Bearish

In the past 7-days, the investors have been rallying in support of TRON (TRX). In this particular time period, the support for TRON has been 2.08%, while the support in the past 24-hours has been 3.05%.

As of now, the value of TRON (TRX) is worth $0.05986 per TRX, but despite the rallies, it is still hovering within the bearish zone. Although the recent bullish trend has helped ascend the factors close to the midline, TRON is still far from crossing it.

At present, the trading volume for TRON is worth $1,019,949,785, and it has reached this figure following a great surge. Even after reaching this trading level, the bulls are expected to put in more effort to push TRON’s value and trend higher.

Technical Analysis for TRON

Despite the recent push, TRON is traveling within the negative territory. This means that the bulls still have a lot on their plate to accomplish in order to push TRON into bullish territory.

At the moment, the general preference of the investors is to sell TRON. Then come the investors with a neutral opinion about TRON, and then there are investors wanting to sell TRON. At the moment, the percentage of the sellers is 53%, the neutrals stand at 35%, while the sellers are just 12%.

The moving averages are currently siding with strong selling sentiments, while the oscillators are siding with neutral sentiments. Even with the oscillator, the number of sellers is 2, while there is only 1 buyer, and finally, there are 8 neutral investors.

The RSI for TRON is at 47.42, which means that it is very close to hitting the midline, but it all depends on the bulls. If they are able to display a lot of strength against the bears, then the price of TRON may grow higher.

TRON’s Surge to $0.07919

The current sentiments of the investors depend upon the next few days, where the bulls will be expected to play a critical role. If the bulls are strong enough to form stronger rallies, the price of TRON may start getting pushed higher.

The first high resistance benchmark the bulls may try to hit would be $0.06914 per TRON. As the bulls hit the high resistance mark, they will gain more confidence in aiming for higher targets.

The next high benchmark that the bulls may aim for would be achieved once the bulls manage to cross the $0.07000 per TRON barrier. At the particular mark, the buyers may face strong resistance from the sellers. However, as the bulls find success, the price of Tron may grow up to $0.07889 per TRON.

As the momentum keeps building and the investors continue growing more consistently, the price of TRON may rise up to $0.08614.