TRON retraces by 3% in the period September 14 - September 20 as the market turns slightly bearish.

TRON has been bearish last week as its price has been predominantly falling. The volatility of TRX has been low throughout the reviewed period in correspondence with the price action. The market capitalization of the asset has been decreasing in concert with the price of the coin. The crypto coin's market experienced a falling trading volume during the observed time period, which fell in line with the price action.

The analysis of events on the TRON market shows that the cryptocurrency under review is experiencing a period of low volatility. With the average volatility being as low as 0.03%, TRX was incapable of making any sizable price swings. In the period between September 14 and September 20, the volatility of the coin peaked at 0.03%. The asset experienced the period of lowest volatility on September 19 when it fell to 0.03%. Since the current volatility of the crypto coin is low, we expect the price fluctuations of the digital asset at hand to be insignificant.

TRON began the day on September 14 at $0.06, while the broad background was bearish. There were no gains or losses to the TRX market on September 14, it remained flat. On September 15 the coin market stayed neutral, with no changes in the price. The bears dominated the price action during the following trading period as the price drifted 1% to the downside, having established the low for the reviewed time frame at $0.061, while the high was recorded at $0.062. On September 18, TRX market moved by 1% in the bullish direction in concert with the trading volume. On September 18, TRON finished the trading day with no changes to the flatlined market. The crypto coin opened the trading session on September 19 at $0.06 and finalized it at $0.06; the highest point of price action was at $0.06, the lowest was detected at $0.06. Most trading activity on September 20 occurred in the space between $0.06 and $0.06; during this time span, the immediate selling pressure forced the coin to drop to the 24H low at $0.06, though the bulls had also staged the rally to the 24H high at $0.06. During the reviewed time period, the asset was able to achieve the weekly high at $0.06, though at a certain point, the bear pressurized the price down to the weekly low at $0.06. The difference between the lowest and the highest price points for the week was 3%, as the price moved in the $0.002 wide corridor.

As for the average trading volume in the time slot between September 14 and September 20, the TRON market registered the change from $405 468 264 to $374 875 462. We can draw the comparison with the period of 7 days that preceded the reviewed one when TRX ’s trading volume varied from $299 237 778 to $413 963 304. The 10% trading volume fluctuation between September 14 and September 20, as compared with the previous period, served as a basis for a 3% price move.

The total market capitalization of TRON during the past 7-day oscillated between $5 617 648 790, the starting point that was established on September 14, and $5 579 345 995 on September 20, the end date of the reviewed period. 1% was the calculated percentage change for the TRX market over the past week. When compared to the price fluctuations during the observed period of time, the 1% market capitalization movement was accompanied by a 3% change in the price of the coin. A more precise analysis of the TRON market also requires a comparison with the change in market capitalization from the week before, which amounted to 5% on the back of the move from $5 631 829 446 to $5 886 947 528.

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Article date: September 20 | September 14 - 20

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