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Tron [TRX] Technical Analysis: Token crawls on support line as bear blocks all exits

Namrata Shukla

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Tron [TRX] Technical Analysis: Token crawls on support line as bear blocks all exits
Source: Pixabay

Tron [TRX] the tenth-largest coin in the cryptocurrency market, has been fighting the bear for a long time and the bout does not seem to be over yet. With the market changing almost every day, TRX has to try harder to maintain its position in the top-10 list.

According to CoinMarketCap, the coin was valued at $0.0127, with a market cap of $848 million. TRX registered a 24-hour trade volume of $53 million, with a recorded slip of 2.65% within 24 hours, at the time of press. The coin registered an overall plunge by 4.84% over a week.

1-hour

Source: Trading view

Source: Trading view

According to the one-hour chart, the coin noted a downtrend from $0.0137 to $0.0131. The coin registered a brief uptrend from $0.0128 to $0.0129, at the time of press. The coin registered an immediate resistance of $0.0131 and a strong support at $0.0128.

Awesome Oscillator indicates a bearish market gaining momentum.

Chaikin Money Flow is in line with Awesome Oscillator in pointing towards a bearish market. However, it might take a bullish stance soon.

Relative Strength Index shows that the buying and selling pressures are evening each other out, but the RSI line appears to be closer to the bearish end.

1-day

Source: Trading view

Source: Trading view

As per the one-day chart, the coin reported a massive downtrend from $0.0390 to $0.0247, which continued further to $0.0130. The coin marked a minimal uptrend from $0.0119 to $0.0128. It registered an immediate resistance at $0.0158, while a strong support was offered at $0.0119.

Bollinger Bands appear to be converging but as per the previous trend might diverge, increasing the price volatility in the market. The moving average line is seen to be above the candles marking a bearish market.

Parabolic SAR also indicates a bearish market with markers above the candles.



MACD line is above the signal line, pointing a bullish market, unlike other indicators. however, there might be a crossover coming soon.

As per the indicators Bollinger Bands and Chaikin Money Flow, the coin appears to be siding with the bear. However, considering the volatility in the market, changing trends is nothing new the crypto world.





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Bitcoin Cash

Bitcoin Cash [BCH] rolls out iOS version of Bitcoin Cash Register

Rishi Raj

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Source: Pixabay

Bitcoin Cash [BCH] recently made headlines when the CEO of Bitcoin.com, Roger Ver got involved in a bet of $10,000 with Tone Vays, a popular Bitcoin maximalist which the former lost. After launching a free point-of-scale solution, Bitcoin Cash Register for Android operating systems, Bitcoin.com and its developers have rolled out an iOS version of the same.

Bitcoin Cash register allows anyone with an Android or iOS device to accept BCH payments. This came as a part of the company’s agenda to promote the adoption of crypto in the mainstream. With the installment Bitcoin Cash Register, it would be easier for retailers to accept BCH as payment from customers.



As reported by Bitcoin.com, Bitcoin Cash Register claims to be easy to use without any prior account registration and the transactions are carried out in a non-custodial manner. This was confirmed by Bitcoin.com via a tweet:

The bet between Roger Ver and Tone Vays regarding the low transaction fee had left the social media divided, with proponents on both sides arguing about the authenticity of the bet and factors taken into consideration while betting.





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