TRON (TRX) Price Analysis for Today, August 20 – TRX Technical Analysis

TRON
(TRX)
continues
to
demonstrate
its
strong
position
in
the
cryptocurrency
market,
with
a
market
capitalization
of
approximately
$12.50
billion
and
a
24-hour
trading
volume
around
$736.20
million.
Ranked
#10
on
CoinMarketCap,
TRX
is
trading
near
$0.1435,
reflecting
sustained
investors’
interest.

TRX
Key
Statistics

• Current
  Price:
  $0.1435
• Market
  Cap:
  $12.50
  billion
• Trading
  Volume
  (24h):
  $736.20
  million
• Circulating
  Supply:
  86.94
  billion
  TRX
• Total
  Supply:
  86.94
  billion
  TRX
• CoinMarketCap
  Ranking:
  #10

In
the
past
30
days,
TRX
has
risen
by
3.17%
from
its
peak,
and
over
the
last
7
days,
it
has
increased
by
5.58%.
Additionally,
when
compared
to
the
lowest
prices
recorded
in
these
periods,
TRX
has
surged
by
22.27%
in
the
past
month
and
14.37%
over
the
past
week.

This
consistent
upward
movement
highlights
TRX’s
resilience
and
growing
investors’
confidence.

TRX/USD
Market
Analysis

Key
Levels:

Resistance:
$0.144,
$0.145,
$0.150

Support:
$0.139,
$0.129,
$0.118

TRX/USD
is
currently
testing
critical
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
potential
further
gains.
If
TRX
breaks
above
$0.144,
it
may
target
the
next
resistance
levels
at
$0.145.
However,
a
failure
to
break
this
resistance
could
see
TRX
pulling
back
towards
support
at
$0.139
and
$0.129,
where
renewed
buying
interest
might
emerge.

Will
TRX
Maintain
Its
Bullish
Trend?

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

TRON
VICTORIOUS
AGAINST
THE
SEC

 

TRX/BTC
Performance
Insights

TRX
has
shown
significant
strength
against
Bitcoin,
with
the
TRX/BTC
pair
recently
reaching
0.00000238
BTC,
marking
a
3%
gain
over
the
past
24
hours.
This
movement
places
the
pair
above
the
upper
Bollinger
Band,
signaling
a
robust
bullish
trend.
The
MACD
also
reflects
continued
bullish
momentum,
suggesting
that
TRX
could
aim
for
the
next
resistance
around
0.00000239
BTC.

In
a
tweet
by
@cryptodeadline,
TRON
(TRX)
could
experience
significant
price
impacts.
It
was
reported
that
the
TRON
ecosystem
is
seeing
a
surge
in
memecoins
following
an
alleged
$10M
allocation
for
such
tokens.
As
a
result,
TRX
volatility
has
increased
nearly
sevenfold.

So
Memecoins
on

#TRON
Ecosystem
are
exploding
because

#TRON
allegedly
allocated
$10M
for

#Memecoins
and
now
Devs
are
running
to
the

#TRON
blockchain.

The
number
of
tokens
created
on
the
platform
has
reached
nearly
5,000.
TRX
volatility
has
surged
almost
7
times,
now
totaling…

pic.twitter.com/phdokSXQA5

—
????????????????????????????????
☠️
(@cryptodeadline)

August
19,
2024

 

Alternatives
to
TRON

While
TRON
continues
to
hold
its
ground,
another
cryptocurrency
that
has
been
capturing
significant
attention
is
PlayDoge
($PLAY).

PlayDoge
is
quickly
gaining
momentum,
supported
by
a
vibrant
community
and
an
impressive
presale,
which
has
raised
over
$6
million
so
far.
This
strong
backing
underscores
the
growing
interest
in
the
project
and
hints
at
its
potential
for
substantial
returns.

Presale
of
PlayDoge
to
End
Soon

PlayDoge
is
distinguished
by
its
innovative
features
and
the
energy
of
its
community,
positioning
it
as
a
promising
contender
in
the
cryptocurrency
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.
With
the
momentum
building
rapidly
behind
PlayDoge,
it
could
be
an
excellent 
investment.

Visit
PlayDoge

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