CRYPTO NEWS

TRX Soars 15% In Last 5 Days – Is This Enough To Recoup Investors’ Losses?

Tron (TRX) has eclipsed its past performance and has been up 15% in the last five days. The TRX/BTC pair registers an increase of 0.28% at 0.000002895 BTC.

The token is now sweeping through an uptrend wave as seen in the daily price chart. There is an obvious power struggle between the bulls and the bears which impacted the price but it seems neither was able to pull off a riveting dominance in the market.

It helped that Bitcoin (BTC) did some heavy lifting as its price briefly soared above the 24K price zone which also propelled the entire market up.

Tron Still Grappling With Losses 

TRX price surged by over 15% in just five days but it’s still grappling with losses in the part of the investors. With that being said, Tron still needs to get more buyers to speed up the recovery train. The price registered at a low of $0.068 and spikes continuously with the increased buying pressure.

As of now, TRX coin trades at $0.071 showing an increase of 3.46% in terms of market cap seen in the past 24 hours. The coin is showing a trading volume that catapulted 557 million which reveals a 22.18% loss seen in the past 24 hours. The altcoin currently has a total market capitalization of 6.5 billion.

On a 4-hour chart, TRX price showcases a robust uptrend momentum. Evidently, the RSI is also showing that the price is overbought as increased selling activity is pushing the price. Current RSI is almost 70. So, the buyers who are looking to penetrate the market should wait. The MACD that supports the uptrend indicates that the buyer’s line is gliding over the green lane.

TRX Hits $0.075 Critical Level

Tron (TRX) was rolled out in 2017 by founder Justin Sun. However, it was a disappointment when Sun decided to abandon Tron as he ventured to other projects. Following Sun’s exit, TRX price has suffered massively and was unable to beat its all-time high in 2018.

Technical analysis on the past couple of months showed that TRX has been on a downtrend following its ATH in April 2021 which touched the high of $0.18. Ever since, TRX price wasn’t able to break away from the downward slope.

For TRX to switch into a bullish standpoint, the price must reach the $0.075 level and if BTC continues to perform well which has happened for five straight days for Tron.

 

Crypto total market cap at $1.06 trillion on the daily chart | Source: TradingView.com

Featured image from Coin Payments Blog, chart from TradingView.com

Hedera Hashgraph prediction as price reclaims the $0.074 level

Hedera Hashgraph is a smart contract platform that uses an algorithm for fast transactions HBAR has reclaimed the $0.074 level after 10% gains in the week HBAR could consolidate, but $0.074 remains the reference support Hedera Hashgraph HBAR/USD has surged by more than 10% in the past 7 days. The gains have propelled the token::Listen

Hedera HBAR Coin Logo

  • Hedera Hashgraph is a smart contract platform that uses an algorithm for fast transactions

  • HBAR has reclaimed the $0.074 level after 10% gains in the week

  • HBAR could consolidate, but $0.074 remains the reference support

Hedera Hashgraph HBAR/USD has surged by more than 10% in the past 7 days. The gains have propelled the token to higher levels, reclaiming a major resistance. If trading HBAR, it is important to watch key levels where the price may face indecision.

Hedera Hashgraph is a blockchain that promises to deliver secure and fast transactions. The blockchain aims to achieve the objective through a distributed consensus algorithm. Hedera also seeks to enable anyone to deploy applications on the platform for true decentralization.

Hedera Hashgraph may not be the strongest cryptocurrency this year. Since bottoming at $0.06 in mid-July, it has been making very slow gains. That is despite most other cryptocurrencies staging strong recoveries. Nonetheless, recent recoveries may be a tip of what is about to come for the token.

Hedera Hashgraph begins recovery, but momentum is weak

Source – TradingView

From the daily chart outlook, the 21-day and 50-day moving averages have joined a support for HBAR. The 21-day MA has closed above the 50-day MA as bullish momentum builds. The MACD indicator also points to building momentum. The price is well supported above $0.074, suggesting that HBAR has set new reference support. The token is moving along an uptrend.

Concluding thoughts

If considering buying HBAR, the $0.074 should be the reference level. Nonetheless, with the weak momentum, the token could continue to consolidate. Consequently, HBAR is not the best token for short-term buyers. Dip and long-term buying are recommended.

If HBAR keeps $0.074 intact, the next levels to watch are $0.10 and $0.15. The cryptocurrency could also face some resistance at $0.09.

The post Hedera Hashgraph prediction as price reclaims the $0.074 level appeared first on CoinJournal.

TRX Soars 15% In Last 5 Days – Is This Enough To Recoup Investors’ Losses?

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