In this TRON technical analysis, we will examine the current price action, trading volume, key levels and indicators for TRX-USDT. TRON is a blockchain-based decentralized application platform that aims to provide high scalability, high availability, and high throughput. It utilizes a delegated proof-of-stake (DPoS) consensus algorithm, which allows for faster transaction times and lower energy consumption compared to traditional proof-of-work (PoW) algorithms. Additionally, TRON’s smart contract platform is designed to be highly flexible and customizable, allowing developers to build a wide range of decentralized applications (dApps) on the network.
TRON Price Overview:
As of July 06, 2024, TRON is trading at approximately 0.12994 USDT. Let’s dive into the detailed price action for TRX-USDT:
| Metric | Value |
|---|---|
| Open (O) | 0.12684 |
| High (H) | 0.13012 |
| Low (L) | 0.12636 |
| Close (C) | 0.12994 |
| Volume (C) | 198,799,066.70 |
- Open (O): The opening price for today’s trading session was approximately 0.12684 USDT.
- High (H): TRON reached a daily high of around 0.13012 USDT.
- Low (L): The daily low for TRX-USDT was approximately 0.12636 USDT.
- Close (C): At the time of analysis, TRON is trading near its daily close of 0.12994 USDT.
| Metric | Value |
|---|---|
| 1D Change (%) | 2.44% |
| 3D Change (%) | 0.96% |
| 7D Change (%) | 3.51% |
| 30D Change (%) | 13.20% |
| 90D Change (%) | 7.78% |
| YTD Change (%) | 20.72% |
Over the past three days, TRXUSDT has risen by approximately 0.96%, showcasing increased market volatility. Throughout the last week, it continued to increase, with a gain of around 3.51%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with TRXUSDT maintaining an upward trend of approximately 13.20%, despite intermittent fluctuations. Examining the last 90 days, TRXUSDT has witnessed substantial rise of approximately 7.78%, reflecting strong long-term confidence. Year-to-date, TRXUSDT has steadily increased by around 20.72%, 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-USDT 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 0.18685.
- Momentum score is 0.12697.
TRX USDT Technical Analysis
TRON Trading Volume:
The trading volume for TRON (TRX) over the past 24 hours has been insignificant, with approximately 198,799,066.70 USDT 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 above the 50-day SMA, indicating short-term bullish momentum.
- 200-day Simple Moving Average (SMA): TRON is also trading above the 200-day SMA, indicating a positive long-term outlook.
Relative Strength Index (RSI):
- The RSI30 for TRX-USDT is currently in the high zone, around 62.28381. This suggests that TRON is in bullish territory.
Analysis from TradingView:
Our Key Takeaways:
TRON (TRX-USDT) is currently exhibiting signs of short-term bullish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the USDT monthly resistance level and the USDT support level for potential trading opportunities. Additionally, the high RSI and insignificant trading volume are high signals for potential upward movement.
TRON (TRXUSDT) poised for growth at 1.30e-01 USDT, as bullish technical analysis reveals robust support and promising indicators.
Don’t overlook our detailed insights on TRX BTC TRON Technical Analysis if you found this post captivating; it’s a must-read for further exploration.
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.