RATE Group | Tron [TRX/USD] Technical Analysis: Cryptocurrency on the decline as bear attack continue…
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Tron [TRX/USD] Technical Analysis: Cryptocurrency on the decline as bear attack continue…

09 Dec Tron [TRX/USD] Technical Analysis: Cryptocurrency on the decline as bear attack continue…

Posted at 22:36h in Cryptocurrency News by

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Tron [TRX] has been a victim of the rampant bear attack for quite some time now and the effects have been obvious. With multiple support breaks and position changes on the charts, the Justin Sun led company is now holding the 10th position on the cryptocurrency list, according to CoinMarketCap.

1-hour

The one-hour chart has been moving downwards with the bear still holding strong. The support has been holding at $0.012 while the resistance is at $0.015. The downtrend took the price down from $0.014 to $0.012.

The Awesome Oscillator shows an increase in market momentum after a slight dip.

The Relative Strength Index indicator is crashing to the oversold zone, which is a sign of the selling pressure being more than the buying pressure.

The Chaikin Money Flow indicator has just climbed back into the bearish realm. This shows that the money coming into the market is more than the outflow.

1-day

The one-day chart shows a clear and distinct downtrend. The dip saw the prices fall from…

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