Tron [TRX] Is the Best Performing Major Cryptocurrency This Week As Price Continues to Surge

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The market has been recovering this week but has started to slow with mixed performances among cryptocurrencies. However, Tron continues to perform strongly and is the best performer in the top 20 for the second consecutive day. Tron has increased 8.5% over the past seven days while most major cryptocurrencies are recording losses.

The price of Tron spiked yesterday from around $0.12 to close just below $0.15. The price rise continues today with price currently trading around $0.155 after forming an intraday high above $0.17. There has been significant volume driving the increases over the past two days showing significant strength behind the moves.

There are a number of possible factors driving the increase. The Tron platform recently upgraded its software which may be factoring into the price rise. BitTorrent Pro also recently started supporting payments in Tron which could be further driving the price rise. Tron acquired BitTorrent Inc earlier in the year.

The momentum is strongly behind the buyers with both the RSI and MACD increasing. The MACD is currently crossing its signal line to the upside a bullish signal. While price is currently retracing from its intraday highs, support may come into play at $0.15 which is an area of important trading activity.

Tron Daily Chart – Source: Tradingview.com

Key Takeaways:

  • Tron is the best performing altcoin over the past seven days with most major cryptocurrencies recording losses over this time period.
  • Tron continues to increase today with large amounts of volume driving the appreciation. Both the RSI and MACD are increasing showing strong buyer momentum.
  • Price is retracing from intraday highs today but may meet support at $0.15 which has been an area of significant trading activity.
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