The post Will Tron and Toncoin Recover? TRX and TON Price Analysis appeared on BitcoinEthereumNews.com.

According to our market data, Tron (TRX) and Toncoin (TON) have broken crucial support levels to extend their downtrend by an additional 10%.  Despite the massive correction, analysts have predicted that TON could double its current position to breach the 2024 high.  Both Tron (TRX) and Toncoin (TON) have shed off a substantive gain on their weekly and monthly price charts as the broad market records a loss of 4.4% to drag the total market cap to $3.3 trillion. According to our market data, TRX has declined by 5% in the last seven days and 10% in the last 30 days to trade at $0.244. Meanwhile, TON has also declined by 7% in the last seven days and 11% in the last 30 days to trade at $5.2 at press time. Interestingly, the asset is expected to make 2x from the current price, per a CNF report. [mcrypto id=”435408″] Price Analysis of TRX and TON Assessing TRX’s price action over the past few days, we observed that the asset faced a crucial resistance at $0.27 on January 7 as it attempted to secure the monthly high of $0.30. On January 8, the asset declined by 6.67% and extended this downtrend to trade below the 50-day Exponential Moving Average (EMA) support level found at $0.28. From the current position, analysts expect the price to further decline to the December 2 low of $0.20 in a 16.8% fall. Looking at the Relative Strength Index (RSI), we observed a strong bearish momentum at 42, far below the neutral level of 50. Similarly, the Moving Average Convergence Divergence (MACD) indicator also displays a bearish cross-over, hinting at a bearish extension. For the Toncoin (TON) price analysis, strong resistance was witnessed at $5.72 on January 7. Meanwhile, this downtrend is expected to continue by 11.5%…

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Filed under: News - @ January 10, 2025 2:12 am