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Technical Indicators Suggest TRON (TRX) Will Establish a New Bottom

Published 01/06/2023, 03:11 AM
Updated 01/06/2023, 03:30 AM
Technical Indicators Suggest TRON (TRX) Will Establish a New Bottom

  • TRX’s price has dropped a dreadful 7.59% over the last 24 hours.

  • The altcoin has also weakened against the two crypto market leaders.

  • TRON’s price is now trading near a major support level on its daily chart.

TRON (TRX) has seen a dramatic price drop over the last 24 hours according to CoinMarketCap. At press time, the altcoin’s price stands at $0.05057 following a 7.59% drop in the last day. As a result, the weekly performance of TRX has also flipped into the red, with the current weekly performance for TRX at -6.21%.

TRX has weakened against both of the crypto market leaders, Bitcoin (BTC) and Ethereum (ETH), as well. At press time, TRX is down 7.43% against BTC and 7.25% against ETH.

The daily trading volume for TRX has surprisingly surged 130.70% during a time when the majority of TRX’s off-chain metrics have experienced a decline. The increase in TRX’s daily trading volume has taken the total up to $372,678,758.

The post Technical Indicators Suggest TRON (TRX) Will Establish a New Bottom appeared first on Coin Edition.

See original on CoinEdition

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