TRON (TRX) currently the 12th largest cryptocurrency by market capitalization is on a bullish move. It is currently trading at $0.023256 USD (+2.67%) as per Coinmarketcap at the time of writing this post. The 24h High for TRX is $0.02367 and 24h Low is $0.02205.
The bullish move of TRON is due to the announcement of its listing on one of the crypto exchange KuCoin. KuCoin is a Singapore based worldwide cryptocurrency exchange. The trading will be live from 28th August with TRX/BTC and TRX/ETH trading pair.
Tron Price Prediction and Technical Analysis
As you know TRON is going to launch its Tron Virtual Machine on 30th August so there are chances of even more bullish move. Here is the analysis based on technical details. First, I’ll do the analysis on the basis of the 1-day price forecast.
The 10-day Exponential Moving Average for Tron is 0.021971 while 20-day EMA for TRX is 0.023155. As you see both the above data it tells a buy signal. While looking at the 10-day Simple Moving Average which is 0.021469 depicting a buy signal.
Also while looking at the Oscillators, the MACD Level (12, 27) is -0.002197 indicating a buy signal. The Relative Strength Index (14) is 46.021927 which is in the Neutral zone.
Now let’s have a look at the 1h price forecast for TRON. The Exponential Moving Average (10) is 0.023132 and EMA (20) is 0.022908. Also while looking at the Simple Moving Average (10), the value is 0.023148. Here the point is that all the EMA (10), EMA (20) and SMA (10) is indicating a buy signal.
Even if we look at the Oscillators for 1h price forecast the Relative Strength Index (14) is 61.533690 which is in the neutral zone. The MACD Level (12, 27) is also in the buy zone with a value of 0.000293.
This article should not be considered as an investment advice. Please conduct your own research before investing in any cryptocurrency.