TRON Latest Price Analysis- Feb 8, 2019- Tron's Bull Losing Momentum?

Anisa Batabyal
| 08 February, 2019 | 2 min

#1 Key Highlights

  • $0.025+ price level providing support since 1st February '2019.
     
  • Trading below 200H Moving Average (MA).
     
  • Breaking over 10H and 20H EMAs. crossover.
     
  • Ichimoku cloud immediate resistance to breaking.

#2 TRON [TRX] Latest Price Analysis – Hourly (1H) Chart TRX/USD

Tron technical analysis today shows slight upward movement (1%+) with hovering above 10H and 20H EMAs crossover.

Let's look at the insights of Tron price analysis 2019 on its Hourly (1H)-timeframe chart.

Monthly open and previous weekly open is acting as immediate support (green bar) since last few days.

The short-term downtrend line (black), since 4th February ' 2019, needs to be broken in order to test the immediate resistance (red bar) around $0.026+. It has been testing the $0.026+ immediate resistance for the past two days. Tron's Elliott wave theory depicts that we are in the last wave of its complete cycle.

Though MACD is slightly turning bullish Stoch-RSI is moving in the overbought zone.

#3 Conclusion

Overall, Tron wave has managed to gain a lot of traction and new followers. Tron analysis meaning showed that it has been steadily climbing the price ladder and has bagged a position in the top 10 cryptocurrencies (market cap).

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