Tron technical analysis: TRX/USD goes up by 2% in just one hour

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  • TRX/USD hourly chart is trending in an upward channel formation.
  • TRX/USD went up from $0.0143 to $0.0146 in one hour.

TRX/USD daily chart

TRX/USD daily chart

TRX/USD is on course of having two straight bullish days, during which it has gone up from $0.0138 to $0.0146. The 20-day Simple Moving Average (SMA 20) acts as immediate market resistance. The Moving Average Convergence/Divergence (MACD) shows that momentum has changed from bearish to bullish.

TRX/USD four-hour chart

TRX/USD four-hour chart

The four-hour chart was trending in a downward channel formation before the bulls took control and jumped above. In the process, it broke above the SMA 20 and SMA 50 curves and the 20-day Bollinger Band. The Elliott Oscillator has had four straight green sessions

TRX/USD hourly chart

TRX/USD hourly chart

The hourly chart is trending in an upward channel formation and has broken above the green Ichimoku cloud. The price has jumped from $0.0143 to $0.0146 in one hour. The Relative Strength Index (RSI) indicator was trending in the overbought zone before it crept back down to 65.15.

 

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