In this TRON technical analysis, we will examine the current price action, trading volume, key levels and indicators for TRX-BTC. TRON is a blockchain-based decentralized platform that aims to provide high-performance and scalable infrastructure for the global digital entertainment industry. With its unique architecture and innovative features like independent smart contracts, TRON seeks to empower content creators and developers with more control over their digital assets. Additionally, TRON’s distributed storage system ensures secure and reliable data management for a wide range of applications beyond just entertainment.
TRON Price Overview:
As of May 16, 2024, TRON is trading at approximately 0.0 BTC. Let’s dive into the detailed price action for TRX-BTC:
| Metric | Value |
|---|---|
| Open (O) | 0.0 |
| High (H) | 0.0 |
| Low (L) | 0.0 |
| Close (C) | 0.0 |
| Volume (C) | 9,652,073.00 |
- Open (O): The opening price for today’s trading session was approximately 0.0 BTC.
- High (H): TRON reached a daily high of around 0.0 BTC.
- Low (L): The daily low for TRX-BTC was approximately 0.0 BTC.
- Close (C): At the time of analysis, TRON is trading near its daily close of 0.0 BTC.
| Metric | Value |
|---|---|
| 1D Change (%) | -0.52% |
| 3D Change (%) | -4.52% |
| 7D Change (%) | -5.47% |
| 30D Change (%) | 7.95% |
| 90D Change (%) | -25.49% |
| YTD Change (%) | -25.49% |
Over the past three days, TRXBTC has decreased by approximately -4.52%, showcasing increased market volatility. Throughout the last week, it continued to drop, with a loss of around -5.47%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with TRXBTC maintaining an upward trend of approximately 7.95%, despite intermittent fluctuations. Examining the last 90 days, TRXBTC has witnessed substantial decrease of approximately -25.49%, reflecting strong long-term confidence. Year-to-date, TRXBTC has steadily dropped by around -25.49%, attracting both institutional and retail investors and highlighting its potential as a long-term investment.
TRON Live Chart:
You can access a live price chart for TRX-BTC on various cryptocurrency market websites or trading platforms. These charts provide real-time data, allowing you to track price movements and indicators as they evolve.
Price Volatility and Momentum:
- Volatility score is 0.54144.
- Momentum score is 0.04396.
TRX BTC Technical Analysis
TRON Trading Volume:
The trading volume for TRON (TRX) over the past 24 hours has been insignificant, with approximately 9,652,073.00 BTC traded against TRX. Elevated trading volume often indicates increased market activity and can be an essential factor to consider in technical analysis.
Moving Averages:
- 50-day Simple Moving Average (SMA): TRX is currently trading below the 50-day SMA, indicating short-term bearish momentum.
- 200-day Simple Moving Average (SMA): TRON is also trading below the 200-day SMA, indicating a negative long-term outlook.
Relative Strength Index (RSI):
- The RSI30 for TRX-BTC is currently in the neutral zone, around 48.45208. This suggests that TRON is in range-bound territory.
Analysis from TradingView:
Our Key Takeaways:
TRON (TRX-BTC) is currently exhibiting signs of short-term bearish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the BTC monthly resistance level and the BTC support level for potential trading opportunities. Additionally, the neutral RSI and insignificant trading volume are neutral signals for potential sideways movement.
Explore potential downturns for TRON (TRXBTC) at 1.90e-06 BTC, supported by cautionary indicators and weakened fundamentals, as revealed in technical analysis.
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Disclaimer: The information provided herein, including any technical analysis of cryptocurrencies, is for informational and educational purposes only. It should not be considered as financial advice or a recommendation to buy, sell, or hold any cryptocurrency or make any financial decisions.
Cryptocurrency markets are highly volatile and speculative. Past performance is not indicative of future results, and there are no guarantees of profit or protection against losses. Cryptocurrency investments are subject to significant risks, including but not limited to market fluctuations, regulatory changes, and technological vulnerabilities.
Technical analysis involves the use of historical price and volume data, patterns, and indicators to make predictions about future price movements. It is a subjective and speculative approach to market analysis and should not be the sole basis for making investment decisions.