Despite market uncertainty, TRON (TRX) is making waves in the cryptocurrency market due to an impressive price surge. However, this surge occurs when Bitcoin (BTC), Etherrium (ETH), and other major assets experience notable prices.
Current price momentum
The TRX is currently trading near $ 0.235 and has ignored the market trend with a 2.56%increase over the last 24 hours. However, during the same period, the volume of trading decreases by 42%, and investors and traders still have a weak overall market sentiment, so they are still hesitant to participate in their assets, and prices continue to fall.
TRX technology analysis and upcoming level
This rising exercise seems to change the overall trend of TRX. According to Coinpedia’s technical analysis, TRX has recently emerged from optimistic flags and extremely price behavior patterns and is preparing for a huge rising exercise.
In addition to this brake out, the TRX is sponsored by 38.2% of Fibonacci, showing a strong trend and driving force. If the TRX maintains more than $ 0.234, depending on the recent price behavior and historical patterns, the assets will increase by 12%, which is likely to reach $ 0.255 in the future.
However, this level represents the upper limit of the integrated area where the TRX is trading at a higher time. If the asset reaches this level and successfully closes the daily candle of $ 0.255 or more, you can see the price increase of more than 20%.
Tron (TRX) Overview
In the press time, traders are excessive at $ 0.226 and have a long position worth $ 43 million. On the other hand, $ 0.24 is excessive levels of merchants betting at a short distance.
Given the current market sentiment, merchants are optimistic and prices can soon increase, which can explain a long position worth $ 43 million at $ 0.226.