Tron price movement is unstable, and in the past hour, the 12th largest cryptocurrency has dropped by a quarter of a percent.
Despite the fact that TRX price is standing at a much higher point than the start of the month, instability is evident on the price chart.
Tron price chart by Trading View
TRX price increased from $0.0164 USD after it fell courtesy of a minor bearish pattern. The lowest price of the past 5-days was witnessed on the 24th of June at a value of $ 0.01568 USD. However, since then, the price has been improving despite instability on the charts.
Tron price movement: What to expect?
This bullish pattern caused the price line to remain above the starting price of the day; TRX achieved its highest price point of the day at $0.0170 USD. The price line fell to $0.0168 USD, then recovered to the second-highest price point of the day at $0.0168 USD.
Starting on a converging pattern, the 50-Day Moving Average and the 20-Day exponential moving Average diverged, while both the variables continued upwards on a gentle slope and reached their final values of $0.0167 USD and $0.0170 USD at the end of the day.
While Bitcoin is still leading, the 12th largest cryptocurrency currently holds a market capitalization of almost one and a quarter billion United States dollars ($1.121B). Interestingly the trading volume exceeds the market cap at $1.126B in the past 24-hours, making it one of the fastest retails cryptocurrencies.
If the retail usage continues as today, Tron is likely to exceed the monthly of $0.018 to explore new highs above $0.020. However, if the retail usage falls anytime soon, the market capitalization may not collapse, but cryptocurrency can drop down to 0.012 level once again.
Featured image by Wikimedia