TRON has positioned itself as one of the fastest transactions offering cryptocurrency, with the current levels providing as high as 2000 transactions per second. In addition, it broke the internet with the news of acquiring the file-sharing platform BitTorrent in 2018. Since that announcement, TRON hasn’t looked back in terms of scaling capability and further improvement potential.
As of September 21, 2021, TRON sits at the 25th position in terms of market capitalization, which is under constant threat from Stellar cryptocurrency. Almost the entire supply of 71 billion coins is circulating in the market, mostly between content creators and their audiences.
Given the sudden increase in digital content over the last year, there will be a massive demand for a blockchain network to support the required transactions. TRON is developing a platform that will be in demand in the years to come. $0.10 is acting as a firm price rejection zone and should be watched out carefully. There is a strong potential for upscaling.
TRON Price Analysis
TRX cryptocurrency has undergone a massive movement in the last two weeks. On one side, where it moved up by more than 65% in a week, the entire gains were wiped off in the next week. Such price action increases volatility and hinders the volumetric rise.
The price movement around 5 cents is the lowest of the last profit booking session and has helped TRON scale double its valuation. RSI indicator has taken a dip from the higher levels of 70 towards below neutral level of 46. At the same time, there has also been an increase in trading volumes. The 100 DMA offers a strong support level at $0.076 level, followed by swing support of $0.0844 and 200 DMA level of $0.086 level.
The falling value of September 21 took support from its 200 DMA and has helped retrace its losses for the day while jumping 2.5% in the green. Moreover, it created a huge pin bar candle supporting the buyers.