Tron [TRX] Price Prediction, Technical Analysis – October 8th

Tron TRX is currently at the 11th place in the list of cryptocurrency in terms of Market Capitalization. As per CoinMarketCap, the price of Tron TRX at the time of writing this post is $0.026831 USD (+11.44%) and the market capitalization is $1,764,071,855 USD. 

As per Binance, the 24h high for TRX is $0.02246 and 24h low is $0.02391 (Binance TRX/USDT Pair).

Tron Price Prediction and Technical Analysis

Today TRON seems to be on a massive bullish move. Here I will do the analysis in two parts first one will be on the basis of the 1-day price forecast while the other one will be on 1h price forecast.

1-day Price Forecast

The 10-day Exponential Moving Average for Tron TRX is 0.024035 while the 10-day Simple Moving Average is 0.023404. Both of the above EMA (10) and SMA (10) is indicating a buy signal. Let’s have a look at the other Moving averages to have better clarification the price trends.

Data as per Binance

The other moving averages like EMA (20, 30, 50) all are in the buy zone. Similar is the case with SMA (20, 30, 50) while the EMA & SMA (100, 200) are in the sell zone.

The Volume Weighted Moving Average (20) for TRX is 0.023156 and the Hull Moving Average (9) is 0.026440 all indicating a buy signal. So on the basis of moving averages, it can be concluded that TRON is on a massive bullish move.

Data as per TradingView

Let’s have a look at the Oscillators, the MACD Level (12, 27) is 0.000894 indicating a buy signal. The Relative Strength Index (14) is 68.119570 which is in the Neutral zone. Also, the Bull Bear Power is 0.007392 is in the neutral zone.

1h Price Forecast

Now let’s have a look at the 1h price forecast. The Exponential Moving Average (10) for Tron TRX is 0.026925 while the Simple Moving Average (10) is 0.027098. Here both EMA (10) and SMA (10) is indicating a sell signal. While other moving averages like EMA (20, 30, 50, 100, 200) and SMA (20, 30, 50, 100, 200) are in the buy zone.

Data as per TradingView

The Hull Moving Average (9) with a value of 0.026779 is in the sell zone.

Even if we look at the Oscillators for 1h price forecast the Relative Strength Index (14) is 56.972150 which is in the neutral zone. The MACD Level (12, 27) is in the sell zone with a value of 0.000622.

Conclusion

As per the analysis based on the different moving averages, graphs and Oscillators Tron TRX is on a bullish move. However, you can HODL it till it reaches another bull point.

This article should not be considered as an investment advice. Please conduct your own research before investing in any cryptocurrency.