NewsBTC 2022-09-26 15:30:58

TRON Showing Hints Of A Major Rebound After A Week Of Rout

Tron (TRX) holders have been on rough terrain since August with the bears dominating the market. The tables might be turning though in favor of the bulls as shown on the charts. TRX bulls hint at a comeback after a long period of takeover by the bears TRX price down by 0.87% RSI divergence hints at increased investor optimism According to CoinMarketCap, TRX’s price has plunged by 0.87% or trading at $0.0596 as of this writing. Apparently, Tron is trying to bounce back from its weekly low that registered at $0.056. It seems that the token is still traversing in the same range which validates a strong rebound from that level. Related Reading: Algorand: ALGO Price All Go With Nearly 30% Rally In Last 7 Days TRON Market Demand Waning? Hence, there is evidently poor demand for TRX in the market which is normal whenever crypto tries to switch lanes from bearish to bullish. Whale activity looks to be insufficient at this point and not gaining enough traction. Regardless, the supply of TRX has increased for the whales. There is hope as investor optimism ought to be amplified with the recent developments happening for Tron. Tron’s weighted sentiment index has shown no significant changes in the market. TRX is still stuck in its lower monthly range which explains the failed uptrend happening over the weekend. On the other hand, there are a couple of signals that promise the possibility of the bulls pivoting in the coming days. TRX...

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