Tron or Tronix is steadily gaining bullish momentum from the last few weeks, trading near the $0.020 levels. Will the TRXUSD break the $0.025 mark in coming days after the bullish crypto market. Here is the weekly Tron Price Prediction.
17 September, AtoZ Markets – Tron or TRXUSD is trading near the $0.0198 up 2.26% with a total volume of over TRX 9.16 M / $ 181.91k in last 24-hour according to data taken from Bittrex price index. The coin has a total market cap of $1.99 Billion. From the last 1 month the price drooped by almost 10% with a total volume of over $10.80 Million. The highest price, $ 0.02787 , was on Tuesday, 28 August 2018 (20 days ago) and the lowest price, $ 0.01716 , was on Wednesday, 12 September 2018 (5 days ago). Moreover, the Tron coin gets the attention huge from the traders, ascending it to the top 20 cryptocurrencies. The project is based on the Ethereum blockchain, acting as the basic unit of account on the platform. Will the TRXUSD pair surge above the $0.025 by the weekend?
Weekly Tron Price Prediction
According to the 5H candlestick pattern, a three outside down bearish candlestick pattern is emerged with high reliability. This pattern is a more reliable addition to the standard Engulfing pattern. A bearish Engulfing pattern occurs in the first two candles. The third candle is a black one with a lower close than the second candle. The third candlestick is confirmation of the bearish trend reversal. Thus, we may likely to see a bearish pressure in the coin and the TRXUSD might show little correction from this point.
But according to the SMA indicator, the 100 SMA went above the longer-term 200 SMA in order to confirm that the path of least resistance is to the upside. This clearly signals that the bulls are getting stronger and the TRXUSD pair might show some gains in the mid-term time-frame. The RSI(14) value is close to 50 means there is still some buying pressure left. Also, the ATR indicator signify the coin went from high volatility to low in last few days, sounds safe to trade according to the technical charts.
According to Fibonacci retracement charts, the price is trending above the 23.6% fibo retr. zone after hitting a bottom on 12th September. The price after reaching the 38.2% Fibo. zone will provide the bulls more forward support and helps to surpass the golden ratio zone. After breaking the weekly resistance the TRXUSD pair might gain traction towards the $0.025 mark.
- The relative strength index(14) value is below 20 which signals “OVERSOLD” in weekly timeframe.
- The STOCH (9,6) also valued below 20 signals “OVERSOLD” in weekly timeframe.
- The MACD(12,26) – “BUYING” signal in weekly charts.
- Moreover, according to ATR(14), the TRXUSD pair is Less volatile.
TRXUSD Weekly Pivot Points
The Tron has a significant weekly support near $0.017 level and resistance near $0.021 levels.