1 TRX = $0.069 USD -- Will The Price Bounce Back Soon?
(Chart by TradingView)
As of mid May, the Tron alligator seemed to sleep between support at $0.1 and resistance at $0.17. Then he moved down slowly looking for prey and got stuck at support at $0.046 today.
On the other hand, the MACD (Moving Average Convergence and Divergence) oscillator is showing a bullish trend. This indicates that many investors are buying these assets and few are selling them. Hence, if this continues, we expect prices to rise.
However, the Stochastic RSI (Relative Strength Index) oscillator is currently in overbought territory. This means that the market price of this asset is already higher than its actual price. Therefore, investors tend to take a selling position in order to pursue profits.
On the one hand, the chart below shows that the price of Bitcoin has fallen, and is still at bottom. While, Bitcoin price fluctuations are usually followed by the prices of other altcoins.
Currently, the crocodile's mouth is still open downward, but it seems to be closing soon. Was he still going down to look for food, or was he planning to go to sleep soon?
Let'a keep following the movements of this Tron crocodile.
See also:
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