TRX Soars 15% In Last 5 Days – Is This Enough To Recoup Investors’ Losses?
August 01 2022 - 1:30PM
NEWSBTC
Tron (TRX) has eclipsed its past performance and has been up 15% in
the last five days. The TRX/BTC pair registers an increase of 0.28%
at 0.000002895 BTC. The token is now sweeping through an uptrend
wave as seen in the daily price chart. There is an obvious power
struggle between the bulls and the bears which impacted the price
but it seems neither was able to pull off a riveting dominance in
the market. It helped that Bitcoin (BTC) did some heavy lifting as
its price briefly soared above the 24K price zone which also
propelled the entire market up. Tron Still Grappling With
Losses TRX price surged by over 15% in just five days but
it’s still grappling with losses in the part of the investors. With
that being said, Tron still needs to get more buyers to speed up
the recovery train. The price registered at a low of $0.068 and
spikes continuously with the increased buying pressure. As of now,
TRX coin trades at $0.071 showing an increase of 3.46% in terms of
market cap seen in the past 24 hours. The coin is showing a trading
volume that catapulted 557 million which reveals a 22.18% loss seen
in the past 24 hours. The altcoin currently has a total market
capitalization of 6.5 billion. On a 4-hour chart, TRX price
showcases a robust uptrend momentum. Evidently, the RSI is also
showing that the price is overbought as increased selling activity
is pushing the price. Current RSI is almost 70. So, the buyers who
are looking to penetrate the market should wait. The MACD that
supports the uptrend indicates that the buyer’s line is gliding
over the green lane. TRX Hits $0.075 Critical Level Tron (TRX) was
rolled out in 2017 by founder Justin Sun. However, it was a
disappointment when Sun decided to abandon Tron as he ventured to
other projects. Following Sun’s exit, TRX price has suffered
massively and was unable to beat its all-time high in 2018.
Technical analysis on the past couple of months showed that TRX has
been on a downtrend following its ATH in April 2021 which touched
the high of $0.18. Ever since, TRX price wasn’t able to break away
from the downward slope. For TRX to switch into a bullish
standpoint, the price must reach the $0.075 level and if BTC
continues to perform well which has happened for five straight days
for Tron. Crypto total market cap at $1.06 trillion on the
daily chart | Source: TradingView.com Featured image from Coin
Payments Blog, chart from TradingView.com
Mina (COIN:MINAUSD)
Historical Stock Chart
From Mar 2024 to Apr 2024
Mina (COIN:MINAUSD)
Historical Stock Chart
From Apr 2023 to Apr 2024