Tron [TRX] Returns to Price Outperformance After Bearish Drop

2019-1-15 19:14

Tron Daily Chart – Source: Tradingview.com

Tron had been the best performing major cryptocurrency for a number of days prior to the bearish drops which occurred in the second half of last week.

This may have been due in a large part to Tron surpassing its 200 simple moving average (SMA).

The 200 SMA is often used by analysts to gauge the direction of the long-term trend, and when prices are trading above, many analysts have more bullish outlooks for it.

Price dropped back below the 200 SMA during the bearish declines of last week but has since surged back above with yesterdays bullish outperformance.

Tron was among the top performing major cryptocurrencies yesterday with an approximately 6% increase over the past 24 hours.

It underperformed Ethereum which recorded an over 10% increase in price.

Price met support at $0.022 after dropping below the 200 SMA.

$0.022 has previously been a point of resistance and was also the point of a bearish breakdown in price in mid-November.

Ethereum 4-Hour Chart – Source: Tradingview.com

The next important level to monitor if the price can continue to increase from here is $0.028. $0.028 to $0.031 was an area of consolidation in mid-August during bearish declines and may come back into play as an area of resistance if price continues to increase.

Price met some resistance at this point during its last bullish movements but ended up breaking through and forming a high near $0.036.

Key Takeaways: Tron among top performing major cryptocurrencies over the past 24 hours. Tron has once again surpassed its 200 SMA which many analysts use to gauge the direction of the long-term trend. If price can continue to increase from here, $0.028 is a key level to monitor. Latest Tron News:

Tron [TRX] Price Prediction & Analysis: Price Is Close to Support, Does It Have Strength for Another Rally?

117 DApps Now on the Tron Network, Says Weekly Report

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] Returns to Price Outperformance After Bearish Drop was originally found on Cryptocurrency News | Blockchain News | Bitcoin News | blokt.com.

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tron bearish sma cryptocurrency 200 price returns

Источник: blokt.com

tron bearish → Результатов: 75


Tron (TRX) Bullishly Exploding, Soaring Higher Than Other Cryptos

The crypto market has been experiencing drag in the movement of price under a bearish condition. While some cryptos are weighed down by the present condition, some have been able to break out. Some cryptos are still struggling to break out, but Tron TRX seems to have gathered enough strength to break off the bearish […] The post Tron (TRX) Bullishly Exploding, Soaring Higher Than Other Cryptos appeared first on ZyCrypto.

2019-1-14 20:26


Tron (TRX)’s Price at Its 200-Day MA as niTROn Event Approaches

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2019-1-12 23:23


This Week in Crypto: Amazon to lead next bull run, BTC undervalued, XRP on Coinbase, Best time to buy Bitcoin, ETH and EOS Better than Tron? And More

The week 9 to 15 December was another bloody week for cryptocurrencies. The market has been bearish with the top cryptocurrencies bleeding until today when it has sustained the green zone. A number of other interesting stories also unfolded, the best of which we have picked and summarized for you in this weekly summary just […] The post This Week in Crypto: Amazon to lead next bull run, BTC undervalued, XRP on Coinbase, Best time to buy Bitcoin, ETH and EOS Better than Tron? And More appeared first on ZyCrypto.

2018-12-17 00:41


Tron [TRX]’s Newly launched Decentralized Exchange is Bullishly Exploding

Tron has found a way of making the bearish market impenetrable to other important market successes other than its trading price. It has been a week-long of win galore for Tron’s Justin Sun as he seems unable to contain his excitement whilst sharing the success of his token and every other Tron-related project, one of […] The post Tron [TRX]’s Newly launched Decentralized Exchange is Bullishly Exploding appeared first on ZyCrypto.

2018-11-17 20:43


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