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Tron [TRX/USD] Technical Analysis: Cryptocurrency seems to come out of the bear’s shadow; bullish silver lining ahead?

The cryptocurrency market seems to have come out of the bear’s hold with many coins being blessed by the bull today, November 2. Popular cryptocurrencies like Bitcoin [BTC], Ethereum [ETH] and Tron [TRX] all saw bullish spikes, which were curbed slightly by the bear.

1-hour:

The one-hour Tron charts show a downtrend with the prices dropping, indicating a bearish hold. The resistance is at $0.0235 while the cryptocurrency’s support has been maintained at $0.021.

The Bollinger bands show the bands diverging at the end of a bullish outbreak. The diverging mouth of the Bollinger cloud is indicative of a bullish run as it points at a volatile market.

The Chaikin Money Flow indicator has climbed above the axis, which is a sign of a bullish market. It also signifies the money flowing into the market due to a change in investor sentiments.

1-day:

The one-day Tron graph shows a downtrend with a support of $0.018.

The Relative Strength Index [RSI] is holding close to the oversold zone, which is a sign of the selling pressure being more than the buying pressure.

The MACD line and the signal line have both started dipping down after a crossover. The clear drop is a bearish sign.

Conclusion:

The indicators mentioned above point to a majoritarian run with the Bollinger bands and the CMF both taking the side of the bull. Only the MACD paints a bearish picture for Justin Sun’s Tron.

The post Tron [TRX/USD] Technical Analysis: Cryptocurrency seems to come out of the bear’s shadow; bullish silver lining ahead? appeared first on AMBCrypto.



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