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Tron [TRX/USD] Technical Analysis: Bear to play the green zone with a reddish hue

The cryptocurrency market has rebooted its sideways movement after experiencing a fair level of volatility in the past week. At the time of writing, Tron [TRX] was trading at $0.0228, with a market cap of $1.5 billion. It was up by 1.03%, with a 24-hour trading volume of $70.8 million.

1-hour:

TRXUSD 1-hour candlesticks | Source: tradingview

TRXUSD 1-hour candlesticks | Source: tradingview

In this scenario of TRX candlesticks, the downtrend is ranging from $0.0235 to $0.0232 whereas the uptrend is observed to take a stretch from $0.0223 to $0.0228. A possible trend breakout is not visible in the short-run.

The Parabolic SAR is bearish on the Tron market as of now. The dots are floating above the candles, suppressing an uptrend in the market.

The Awesome Oscillator is flashing a warning sign as well. The indicator is painted red, predictive of a negative price trend.

The Chaikin Money Flow indicator has just turned its head down to pursue a bearish path after hitting the high road.

1-day:

TRXUSD 1-day candlesticks | Source: tradingview

TRXUSD 1-day candlesticks | Source: tradingview

The trendlines in the one-day candlesticks are observed from $0.0389 to $0.023 [downtrend] and $0.0183 to $0.0221 [uptrend]. The two lines are close to the point of intersection with each other, hence, a breakout in trend might occur in the foreseeable future.

The Bollinger Bands are contracting to a narrower path, advocating for a less volatile market for Tron.

The RSI has been fairly neutral on the TRX price prediction. However, it is currently heading downwards to side with the bear.

The Klinger Oscillator has given a nod to the above indicator. It made a bearish move in its last crossover by the signal line to suggest a lower price for the token.

Conclusion

In the technical analysis, none of the indicators are siding with a healthy price trend for Tron. All the indicators are either approaching or are already in the bearish zone.

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