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 May 16, 2024, TRON is trading at approximately 0.12476 USDT. Let’s dive into the detailed price action for TRX-USDT:
| Metric | Value |
|---|---|
| Open (O) | 0.12633 |
| High (H) | 0.12666 |
| Low (L) | 0.12418 |
| Close (C) | 0.12476 |
| Volume (C) | 216,211,858.90 |
- Open (O): The opening price for today’s trading session was approximately 0.12633 USDT.
- High (H): TRON reached a daily high of around 0.12666 USDT.
- Low (L): The daily low for TRX-USDT was approximately 0.12418 USDT.
- Close (C): At the time of analysis, TRON is trading near its daily close of 0.12476 USDT.
| Metric | Value |
|---|---|
| 1D Change (%) | -1.24% |
| 3D Change (%) | -0.68% |
| 7D Change (%) | -1.14% |
| 30D Change (%) | 11.59% |
| 90D Change (%) | -6.07% |
| YTD Change (%) | 15.90% |
Over the past three days, TRXUSDT has declined by approximately -0.68%, showcasing increased market volatility. Throughout the last week, it continued to drop, with a loss of around -1.14%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with TRXUSDT maintaining an upward trend of approximately 11.59%, despite intermittent fluctuations. Examining the last 90 days, TRXUSDT has witnessed substantial fall of approximately -6.07%, reflecting strong long-term confidence. Year-to-date, TRXUSDT has steadily appreciated by around 15.90%, 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 0.21678.
- Momentum score is 0.06432.
TRX USDT Technical Analysis
TRON Trading Volume:
The trading volume for TRON (TRX) over the past 24 hours has been insignificant, with approximately 216,211,858.90 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 neutral zone, around 53.91702. This suggests that TRON is in range-bound 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 neutral RSI and insignificant trading volume are neutral signals for potential sideways movement.
Anticipate potential growth for TRON (TRXUSDT) at 1.25e-01 USDT through positive technical analysis, emphasizing strong support and promising indicators.
Discover even more by checking out our comprehensive analysis on TRX BTC TRON Technical Analysis — a perfect follow-up if you enjoyed this post.
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.