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Tron (TRX) Price Heavy Drop on the YTD Chart; Price Slips below from where it Started

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  • Tron (TRX) price experiences a heavy drop.
  • The coin would take some time to recover.

Tron (TRX) is experiencing a heavy price pullback. The coin has almost reached the level from where it began at the starting of the year. The traders in the coin are disappointed with the movement of the coin.

The currency was dealing with good momentum in the previous week. The current scenario changed the dynamics of the coin. Let’s have a look at the YTD chart of Tron.

Current Statistics of Tron (TRX):

Particulars Tron (TRX) 
Price $0.017878
ROI 786.38%
Rank 14
Market Cap $1,212,391,918
24hr Volume $429,452,789
Circulating Supply 66,682,072,191 TRX

TRX to USD Price Comparison:

The Tron chart is taken from Trading View on 19th August 2019 at 05:33:39 UTC for price analysis.

Tron price chart - Aug 19
Tron Chart By TradingView

Starting from January, the coin opened with an upsurge. The price shifted from $0.020 to $0.026 by 30.39%. The price dropped in February from $0.026 to $0.023 by 10.11%. March again witnessed a slight upsurge of 3.9%. The price switched from $0.023 to $0.024. April brought another drop of 1.41%. The price counters changed from $0.0248 to $0.0246. May brought a maximum upsurge in coin from $0.024 to $0.038 by 53.78%. June began the regression in coin. The price slipped from $0.038 to $0.032 by 15.38%. July continued the fall. The price slipped from $0.032 to $0.021 by 31.90%. In August, the price continued the drop from the beginning of the month till now. The price changed from $0.021 to $0.017.

Tron Price Prediction and Conclusion:

Tron (TRX) has a good track record. The coin was dealing with a nice momentum in the past. We are quite positive that the coin would come out of the drop soon. The currency is anticipated to close around USD 0.050. The future is quite promising for the traders in Tron.  For now, the short term investment looks most suitable for Tron.

However, we would strongly recommend distributing the investment in the cryptocurrencies to deteriorate the risk.

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Crypto News

Ethereum’s Weekly Close Above $275 Has Analysts Over the Moon

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As Bitcoin has shot higher in the past few hours, so too has Ethereum. The market leader tapping $10,000 was accompanied by ETH passing $275, reaching as high as $278 just minutes ago.

While this sudden jump higher, which comes after the altcoin flatlined around $270 for most of Sunday, has yet to be sustained, analysts are saying the cryptocurrency is cleared to register even greater games in the coming days for a confluence of reasons.

Ethereum Technical Outlook Is Extremely Bullish, Analysts Say

Earlier today, NewsBTC reported on an analysis of the one-week ETH chart by Teddy, a popular trader. 

In the pertinent analysis, the commentator wrote that Ethereum’s weekly candle closing above $275 — a level which has acted as short-term resistance and support over the past two weeks or so — will make the asset “beyond bullish”:

“ETH: Weekly close above 275 beyond bullish. Anything below I see it as a rejection from a key resistance.”

Just minutes ago, the asset closed above this level ($276, to be exact), marking a higher high. Teddy did not allude to what he expects for the cryptocurrency to do after it makes a close above this level, though other analysts are expecting more upside.

From an extremely short-term perspective, analyst Cactus published the below chart and an accompanying message. In that message, the trader wrote that a weekly close above $267 is extremely positive, adding that such a close is likely to send Ethereum towards $290 in the coming days.

Indeed, RookieXBT recently remarked that Ethereum’s six-hour chart is showing a number of positive signs: 

  • ETH is currently printing an “ascending triangle structure,” marked by a number of tests of a horizontal resistance level and slowly-trending-higher prices. Ascending triangles most often break upwards.
  • The six-hour Relative Strength Index (RSI), a measure of the magnitude of price action, is creating a falling wedge structure. Falling wedges normally break upward.
  • There are hidden bullish divergences forming between the price of Bitcoin, which has been registering a series of higher lows, and the RSI, which continues to make lower lows. This suggests a breakout of the RSI wedge may come shortly, which should send Ethereum above the triangle that has constricted upward price action.
Featured Image from Shutterstock



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