TRX Remains Trapped in a Narrow Trading Range After Impressive January Bull Run

TRON Price Analysis

TRON has traded sideways over the past 7 trading days as the market has moved by a small 0.12%. The cryptocurrency is now trading at a price of around $0.02639, at the time of writing, and has dropped a small 1.08% over the past 30 trading days.

TRON is ranked in 8th position as it currently holds a. $1.73 billion market cap value.


Tron Analysis

Since our last TRON analysis, price action has failed to hold above the $0.027 handle and has rolled over. The market began to decline slightly and has recently reached support at a very short-term .5 Fibonacci Retracement level (drawn in blue) priced at $0.025780.

The market has traded sideways over the past few days between the aforementioned support at $0.02578 and resistance at the $0.02685 handle.

Trend: Neutral

The previous trend was bullish. However, after price action has failed to create a higher high, we can now assume that the trading condition is neutral as the market trades sideways between the range…

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