TRON (TRX) Witnesses a Volatile Week; Price Rise May Follow
TRX coin has shown both sides of the price trend over the last week. It has been up by 2.04% over the last seven days. It should be noted that TRON has recently attracted huge numbers of users as its new accounts count has been hiked manifolds. TRON’s CEO, Justin Sun, seems baffled with the recent rise in the number of accounts.
— Justin Sun (@justinsuntron) April 20, 2020
TRON Price Analysis
The TRX coin has been through multiple price shocks over the last week. It was at $0.012335 at the starting of the week and continued to trade with upside momentum despite the sudden decline. On April 16, the price spotted at $0.013251 after registering a 7.43% hike. From this high, TRON price faced steep fall, and on the next day, the price reached $0.01274, but then, it was followed by another price rise. It occurred between April 17 & 18, and in this one day, the TRX price marked a hike of 6.11% and touched the highest point of the week at $0.013527.
However, it couldn’t retain its traders happy for long and witnessed a downside correction to $0.012271 by April 20. It continued to trade under pullback pressure and persists the downside trendline. Further, the TRON coin managed to reflect a moderate hike of 3.43% and touched $0.012690.
As per the current momentum, TRX coin might reflect bullish breakout and trade upwards to cross its resistance around $0.013 mark. The upcoming week may see a moderate improvement. However, the bullish signs may not completely avoid price volatility. Investors should be ready for unprecedented swings on an intraday level. TRON’s next resistance point seems likely around $0.01272.