Tron may lose top 10 position to Cardano amid market shifts

Tron (CRYPTO:TRX) is experiencing market uncertainty as mixed indicators point to both potential growth and possible decline.

Recent data suggests that Tron’s price movements have shown signs of indecision, which could impact its position among the top 10 cryptocurrencies.

The Aroon indicator currently shows an Aroon Up value of 64.29% and Aroon Down at 7.14%, signaling some upward momentum, but not enough to confirm a strong trend.

The Aroon indicator, used to measure the strength of a trend, highlights inconsistencies in Tron’s price movement.

This is further supported by the Relative Strength Index (RSI), which stands at 61.45.

While not yet in overbought territory, the RSI suggests that Tron may be approaching levels that could result in a price correction if the index reaches 70.

Cardano (CRYPTO:ADA) is close to overtaking Tron in market capitalisation, with the gap between the two at $280 million.

Tron has shown signs of slowing momentum following the initial reaction to the “SunPump” initiative.

While Tron’s Exponential Moving Averages (EMA) indicate a bullish sentiment, the narrowing gap between the EMAs raises concerns about the sustainability of this trend.

If Tron fails to break key resistance levels at $0.1617 and $0.17, it could see a decline to support levels at $0.1295 and $0.1170.

Such a decline could impact its standing in the top 10 cryptocurrencies by market cap, potentially allowing Cardano to surpass Tron.

At the time of reporting, the TRON price was $0.1557, while the Cardano price was $0.3716.