Today August 20th TRON (TRX) Price Analysis – TRX Technical Analysis

adminAugust 20, 2024

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TRON (TRX) continues to show a strong presence in the cryptocurrency market, with a market cap of around $12.5 billion and a 24-hour volume of around $736.2 million. Ranked 10th on CoinMarketCap, TRX is trading near $0.1435, reflecting continued investor interest.

TRX Key Statistics

Current price: $0.1435
Market Cap: $12.5 Billion
Trading volume (24 hours): $736.20 million
Circulating Supply: 86.94 billion TRX
Total Supply: 86.94 billion TRX
CoinMarketCap Rank: #10

In the past 30 days, TRX has risen by 3.17% from its high and by 5.58% in the past 7 days. Also, compared to the lowest price recorded during this period, TRX has surged by 22.27% in the past month and by 14.37% in the past week. This continuous upward trend shows TRX’s resilience and growing investor confidence.

TRX/USD Market Analysis

Main levels:

resistance: $0.144, $0.145, $0.150

Support: $0.139, $0.129, $0.118

Today August 20th TRON (TRX) Price Analysis – TRX Technical Analysis — TRXUSD – Daily Chart

TRX/USD is currently testing the important resistance at $0.144. The Bollinger Bands suggest that TRX is trading near the upper band, indicating strong bullish momentum. The MACD line’s position above the signal line supports this, suggesting a potential further upside. If TRX breaks $0.144, it could target the next resistance level of $0.145. However, if it fails to break this resistance, TRX could fall back to the support levels of $0.139 and $0.129, at which point buying interest could resurface.

Can TRX Maintain Its Bullish Trend?

TRON’s recent bullish momentum raises questions about whether TRX can maintain its upward trajectory. The cryptocurrency has shown remarkable resilience, bouncing back from its previous lows and moving towards higher resistance levels. If TRX can successfully close above the $0.144 resistance level, it could trigger a sustained rally towards $0.145 and potentially $0.150. This scenario is likely to attract more buyers and reinforce bullish sentiment. The expanding MACD histogram and the price position above the middle Bollinger Band suggest that the market is tilting towards further upside.

TRON wins against SEC

TRX/BTC Performance Insights

TRX has shown significant strength against Bitcoin, with the TRX/BTC pair recently reaching 0.00000238 BTC, up 3% in the last 24 hours. This move places the pair above the upper Bollinger Band, indicating a strong bullish trend. The MACD also reflects the continued bullish momentum, suggesting TRX could target the next resistance around 0.00000239 BTC.

In a tweet from @cryptodeadline, TRON (TRX) may be experiencing significant price impacts. It was reported that Mimecoin is surging after a $10 million allocation for these tokens in the TRON ecosystem. As a result, TRX volatility has increased by almost 7x.

So about Memecoins #tron Here’s why the ecosystem is exploding: #tron It is said that 10 million dollars has been allocated. #Mimecoin Now the developers are running. #tron Blockchain.
The number of tokens generated on the platform has reached nearly 5,000.
TRX volatility has surged nearly 7x, now totaling… pic.twitter.com/phdokSXQA5
— 𝕯𝖊𝖆𝖉𝖑𝖎𝖓𝖊 ☠️ (@cryptodeadline) August 19, 2024

Alternatives to TRON

While TRON continues to hold its own, another cryptocurrency that is gaining significant attention is PlayDoge ($PLAY). PlayDoge is quickly gaining momentum, supported by a vibrant community and an impressive pre-sale that has raised over $6 million so far. This strong support highlights the growing interest in the project and hints at the potential for significant returns.

PlayDoge pre-sale ends soon

PlayDoge is distinguished by its innovative features and the energy of its community, positioning itself as a promising contender in the crypto space. As the official launch of $PLAY approaches, the project presents a unique opportunity for investors looking to diversify their portfolios with high-growth potential assets. As PlayDoge’s momentum builds rapidly, it could be a great investment.

Visit PlayDoge