Analysis

Tron [TRX] struggles to break out of consolidation

TRX

Tron [TRX] prices are trapped in a consolidation phase. Despite a bullish momentum the prices are struggling to cross the resistance found at $0.027. The prices are inching towards $0.030 key resistance.

The overall crypto market is witnessing a bullish momentum and has exhibited a gradual growth. The overall market cap has risen roughly by $2 billion and is currently standing at $17.5 billion.

TRX/USD

The cryptocurrency is trading around $0.0272. The coin is facing immense resistance at $0.0272 and has hit a consolidation phase. The significant trading range for today can be traced from $0.0268 to $0.0277. The intraday high can be noted at $0.0276.

The MACD levels for the coin signify that the coin is in the bullish territory. The hourly RSI is showing increased buying of the digital currency. The 100 EMA line trading at $0.0271 is showing an uptrend. At the time of writing, the coin is exchanging hands at $0.0272 and is rising against USD by 2.49%.

TRX Chart

TRX/BTC

The digital asset is rising against Bitcoin [BTC] by 1.21%. Currently, one TRX is equivalent to around 0.000005 BTC.

Tron Latest Updates

  • Swarm, a blockchain development company, will allow asset providers with proper licensing and KYC measures to issue security tokens on the  Tron blockchain.
  • Bitfinex has opened trading for USDT-Tron, the stablecoin that emerged out of the merger between Tron and Tether Limited.

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