Tron $TRX Price Outlook: Neutral to Bullish

@KittyBitcoin logo
January 05 2019 10:07 UTC

 

Tron has gained 9.19% or 0.00183 USDT in twenty-four hours. In this Weekend Edition find $TRX price action, trend, technicals and more. Or jump right to the Tron $TRX Price Outlook.

 

Price Action

The price of $TRX has risen over twenty-four hours. The last price at press time is .02175 USDT. In Binance light volume trading the daily change is 9.19%, or 0.00183 USDT:
$TRX Price Change
period % USDT
24 hours 9.19 0.00183
7 days 12.11 0.00235
1 month 55.47 0.00776

News

Trend

trend is UP

The Tron three day trend is up. On November 06 2018 $TRX peaked at .02510, fell heavily to .01107 through to November 25, spiked upwards for two days, then spent two weeks listlessly drifting lower to .01250 on December 14 2018.

Since then Tron has spent about a week climbing, about another week going sideways, and climbed for the last five days, with one red daily candle in those five – and four green daily candles.

[Trend is "up" when the three day price movement is predominantly upwards.]

Real Time Market Depth

The real time market depth is bearish.

 

[The real time market depth is a fractional representation of the order book, used to assist in determining market direction.]

Chart

Tap / click to zoom:

trx-usdt-binance-two-hour-candles-2019-01-05

 

Remarks

Tron has shown strongly bullish performance over the last three days. It is nearing an RSI overbought state, which is bearish. December 23 2018 it spiked to .02239. This is an immediate upper resistance level. Short term one hour candles are showing bearish inclinations, but these may simply be profit taking before the next leg upwards.

 

Technicals

Moving Average Convergence Divergence (MACD)

The MACD on the two hour chart is strongly bullish. Most of the two hour sessions since January 01 2019 have been bullish.

[MACD is a trend-following momentum indicator]

 

Exponential Moving Averages (EMA)

period average
7 day .02137
25 day .02054
99 day .01969

The short term 2 hour EMA(7) has almost been rocketing above the medium and long term EMA. Only in the last 3 two hour sessions has the angle lessened somewhat. This is a strongly bullish divergence.

[EMA is a type of moving average that weights recent price fluctuations more, yielding a better short term signal]

 

Relative Strength Index (RSI)

The Relative Strength Index on the one hour chart is 65.7. This is a neutral state.

The RSI is nearing overbought. It has been in the overbought state on January 4th at noon and again at 8pm on the one hour candle chart. Three of the last four one hour sessions are showing red candles. These are bearish indicators although technically the current one hour RSI is neutral.

[RSI is is a momentum indicator that measures the magnitude of recent price fluctuations to determine an overbought or oversold state]

 

Bitcoin $BTC Price Modifier

The 24 hour Bitcoin $BTC change is 0.64%. This may exert a neutral influence on Tron today.

[The bitcoin price modifier reflects the historical correlation between the price of $BTC and altcoins]

 

Tron $TRX Price Outlook

bullish

  • the Tron $TRX price outlook is neutral to bullish
  • if the price finds acceptance at higher levels the major resistance prints at .02510 (November 06 2018)
  • if the price finds acceptance at lower levels the major support prints at .01107 (November 24 2018)
Resistance levels: .02510 (November 06 2018) .022 .02239

Support levels: .01107 (November 24 2018) .020

 

Invalidation: This outlook is no longer valid if the asset has performed outside of its resistance or support levels, or outside of its short term analysis time period.

 

Disclosure

The author does not hold Tron $TRX at the time of writing.

About @KittyBitcoin

KittyBitcoin logo

@KittyBitcoin has provided timely and informative blockchain intelligence since 2014. Request your custom content today, browse @KittyBitcoin on Twitter® or visit the KittyBitcoin.com website.

Feed

Use the new KittyBitcoin feed URL page at: http://kittybitcoin.com/docs/feeds.php

Copyright

KittyBitcoin media is licensed not sold. Copyright©KittyBitcoin.com 2019. All rights reserved.

Thanks for reading 🙂