TRON (TRX): Does it Score Poorly on Short-Term Trading Metrics Thursday?

Thursday, December 02, 2021 06:06 AM | InvestorsObserver Analysts

InvestorsObserver gives TRON a strong short-term technical score of 75 from its analysis. The proprietary scoring system considers the coin's trading history over the past month to determine the strength of its short-term technicals. TRX has currently traded better than 75% of coins based on these metrics. Investors focused on healthy recent trading patterns should find the short-term technical ranking system more relevant when making investment decisions.

InvestorsObserver is giving TRON a 75 Short-Term Technical Rank. Find out what this means to you and get the rest of the rankings on TRON!

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Trading Analysis

TRON is $0.01 (8.04%) higher than its 30-day low price of $0.09 while also -$0.03 (-24.82%) lower than its high of $0.13 from the past month of trading. Meanwhile, TRX's current price of $0.10 is under than its average price of $0.10 set over the past month of trading, leading to a a strong short-term technical score. In summation, the recent trading history of TRON suggest that traders are currently bullish on the coin. TRON's market cap of $6,953,387,983.69 is relatively high for a coin. TRON's market value is relatively high since the largest 100 cryptos have a market cap above $1 billion and TRX meets that criteria. Meanwhile, TRX's average volume is high with $11,516,997,249.06 worth of the coin traded over an average 24 hour period. The cryptos volume is relatively high due to the most traded 100 cryptos typically having $100 million worth of the crypto traded over a 24 hour period. Over the last 24 hours, TRX's volume is below its usual with $1,975,778,984.11 exchanged. TRON's subclass Distributed Software Platform: A platform is a decentralized infrastructure designed for a purpose. These can take the form of exchanges for the trading of cryptocurrencies, decentralized data storage, artificial intelligence, virtual or augmented reality, distributed computing and big data collection, among other things.

Summary

TRON's trading over the past 30 days leads to its a strong short-term technical score due to recent price movement suggesting more bullish signals for traders on the coin in the near future. Click Here to get the full Report on TRON (TRX).