A brief respite: Tron ceased to fall. Will growth next week?

With great difficulty, Tron managed to keep the tenth position in the ranking of Coinmarketcap. This morning, the capitalization of the coin is 895 million, while the heels she already comes Cardano, whose market capitalization is fixed at 794 million dollars.

Hold the position TRX contributed to a slight rebound of an asset from one of the support lines. The trade volume of Tron has grown to 71 million dollars, and the coin has risen 5 percent in the last 24 hours. Will continue growth in the long run? Look at the graphics.

Technical analysis

Scale 1-hour chart you can see the downtrend line last week which hinders any attempt of the bulls to expand the asset price up. While the downtrend lasted from 0,0145 to 0,0122 dollar.

Image source — AMBCrypto

After a slight rebound cryptocurrency formed a short local uptrend from 0,0128 dollar. The nearest resistance line 0,0137 dollar. The readings of technical indicators while talking about short break in the sink. Parabolic SAR signals the pullback, and the Awesome Oscillator indicates a gradual return of buyers to the market.

1-daily chart Tron is in a protracted decline that lasted at 0,0390 to 0,0247 dollar. Still below the downtrend changes its angle, that is, about the middle of November the discharge of coins picked up in a couple of times. Recall that in the time, he took a strong outflow of capital from the industry around $ 60 billion was withdrawn from the cryptocurrency in a few days.

Image source — AMBCrypto

While we do not recommend to open long positions on the Tron and even buy a coin with the purpose of obtaining short-term profit. In the near future the trend is unlikely to change, so now the safest way to observe the market and wait for good trading opportunities.


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