TRX Shows Signs of Bullish Momentum Amid Bearish Trend, Technicals Show Promising Signs & Could Fuel Further Gains.
The crypto market prices have fluctuated wildly recently, with TRON (TRX) being one of them. According to the latest market data, TRX is currently trading at $0.119, with a 14.75% decrease over the past month but a 1.27% increase in the last 24 hours. TRON’s market cap stands at over $10.4 billion, the 15th largest cryptocurrency by market cap. The trading volume over the past 24 hours is over $292million. Notably, the volume-to-market cap ratio for the same period is a healthy 2.79%, indicating a decent level of liquidity.
The circulating supply of TRX tokens is 87,700,333,118, with a slight difference of the total supply that stands at 87,700,390,476.
TRON has been trading in a bearish trend for the entire month of March after hitting resistance at the $0.1451 zone 26th February. However, last week’s candle closed bullish, following a double retest of support at the ascending triangle and horizontal support level.
Despite prices currently trading below last week’s close, TRON has demonstrated bullish pressure since hitting a low of $0.1151 earlier this week and the price is now on a trajectory to test resistance at the $0.1225 zone.
TRON has been trading bearishly since February 28th, following a rejection at the $0.1451 resistance zone. However, on March 19th, the price found support at an ascending trendline and has since bounced back, trading within a ranging channel between $0.1225 and $0.1150.
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