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#Tron Price Analysis

TRON in high demand. TRX Rises more than 11%, other altcoins show improvements

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The top 20 cryptocurrencies by market capitalization are seeing greater movements with Tron exchanging twofold digits higher today.

The top 20 cryptocurrencies by market capitalization are seeing greater movements with Tron exchanging twofold digits higher today adding 12% to bring TRX prices up to $0.02359. Tron has recovered all misfortunes in the ongoing dump and has returned to its last end of the week level. Justin Sun’s promotion continues directing out those FOMO tweets which are right now driving energy into Tron’s price;

 

 

TRXUSD Price Chart 13 October

TRXUSD Price Chart 13 October

 

The Reddit feed has run wild with speculations regarding who this new ‘industry giant’ accomplice could be that as it may, as has been the situation previously, it could be another eruption. As in the top ten, most different altcoins in this segment are exchanging somewhere in the range of 2 and 4 percent higher on the day, making a little recovery from their enormous drops.

There are a couple of pumps as regular toward the beginning of today in the top hundred cryptocurrencies with Digitex futures entering with a 27% pump. Augur is additionally making 15% on the day to move over $13 indeed. For the losses, Dropil dropping a little more than 7% in the course of recent hours.

cryptocurrency market cap has pawed back 1.5% since a similar time yesterday. This has expanded market top to $202 billion which is still more than 8% lower than this time a weekend ago. Bitcoin predominance remains somewhat higher at very nearly 54%.

#Daily Price Analysis

TRON Daily Trading Signals: 31 October

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TRON remains in a bearish trend. The bearish spinning top formed at $0.02200 in the resistance area set the stage for the bears' return.

Dominant bias for TRON (TRX)- Bearish

Resistance Levels- $0.02500, $0.02600, $0.02800

Support Levels- $0.02000, $0.01800. $0.01600

TRON remains in a bearish trend. The bearish spinning top formed at $0.02200 in the resistance area set the stage for the bears’ return. The cryptocurrency was initially down to $0.02213 and later to $0.02207 in the demand area before the end of yesterday session as the bears increased their momentum.

 

TRX 4-hour chart

TRX 4-hour chart

 

The 4-hour opening candle was an inverted bearish hammer an indication of bears continued pressure that may prevail in the day.

TRON price is still under the 34 exponential moving average and the relative strength index is in the oversold region at 31% and its signal points down which suggests downward movement in the price of the TRX.

The lower line of the descending channel or the retest at $0.02101 in the support area may be the bears’ target

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#Daily Price Analysis

TRX Daily Trading Signals: 30 October

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Dominant bias for TRON (TRX)- Bearish

Resistance Levels- $0.02500, $0.02600, $0.02800

Support Levels- $0.02000, $0.01800. $0.01600

TRON is in a bearish trend. $0.02200 that was predicted yesterday was nicely broken due to the strong bears’ pressure that broke the $0.02322 in the horizontal line of the descending triangle. TRX made a low of $0.02180 in the resistance area as it creates a descending channel pattern.

 

TRX 4-hour chart

TRX 4-hour chart

 

The bulls area back as bearish exhaustion set in with the candle closing with a lower wick. The 4-hour opening candle at $0.02221 sustained the bullish momentum as TRX was up at $0.2248 in the resistance area.

Attempt to the upper line of the channel is the bulls target as they increase their momentum to the upside, but the bears’ pressure remains strong with price below the 34-EMA.

The relative strength index is at the oversold region 29% and its signal points up which suggests upward movement in price of the cryptocurrency which should be seen as a minor pullback that is necessary for the market correction before the downtrend continuation

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#Daily Price Analysis

TRX Daily Trading Signals: 29 October

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Dominant bias for TRON (TRX)- Bearish

Resistance Levels- $0.02500, $0.02600, $0.02800

Support Levels- $0.02000, $0.01800. $0.01600

TRON is in a bearish trend. The bears’ pressure was sustained after a minor bullish momentum that saw TRX at $0.02399 in the resistance area on 26th October. The two inverted hammer formation at this area signaled the bears returned. The cryptocurrency went down to $0.02322 in the support area on 27th October.

 

TRX 4-hour chart

TRX 4-hour chart

 

The 4-hour opening candle was a doji a sign of indecision and the next candle will determine the direction. Should it close bearish it will sustain the bearish momentum. A bullish close of the candle will signal a possible trend reversal.

Price is below the 34-EMA an indication of strong bearish pressure with the relative strength index at 43% and its signal points down it suggests a further downward movement due to the bears’ pressure.

TRX is in descending triangle. A break below and possible retest at $0.02322 in the support area will give the bears more opportunity to continue the journey down south and $0.02200 may be an initial target

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