Key Resistance levels: $0.065, $0.070, $0.075
Key Support Levels: $0.045, $0.040, $0.035
TRX/USD Long-term Trend: Ranging
TRON price is correcting upward after the breakdown on February 23. The upward move is facing resistance at $0.055. If price breaks the current resistance, the altcoin will rise to retest the high of $0.065. On the other, if the crypto faces rejection, the coin is likely to resume a range-bound movement between $0.045 and $0.055.
Daily Chart Indicators Reading:
The 21-day and the 50-day SMA are sloping upward indicating the uptrend. The crypto is at level 58 of the Relative Strength Index period 14. It indicates that the coin has room to rally on the upside. The uptrend will resume if the price breaks the resistance line of the horizontal channel.
TRX/USD Medium-term bias: Bullish
On the 4-hour chart, TRON is in an uptrend. On March 17 uptrend; a retraced candle body tested the 61.8% Fibonacci retracement. The retracement indicates that TRON is likely to rise to level 1.618 Fibonacci extensions or the high of $0.060.
4-hour Chart Indicators Reading
TRON is below 80% range of the daily stochastic. It indicates the coin is in a bearish momentum. The stochastic bands are sloping horizontally indicating that the coin is in a sideways move. The 21-day and the 50-day SMA are sloping upward indicating the uptrend
General Outlook for TRON (TRX)
TRON has been in an upward move in late January. The bulls are attempting to break the resistance at $0.055 which will propel the coin to resume an uptrend. According to the Fibonacci tool, TRON is likely to rise to level 1.618 Fibonacci extension or the high of $0.060.
You can purchase crypto coins here: Buy Coins
Note: Learn2Trade.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results
- Broker
- Min Deposit
- Score
- Visit Broker
- Award-winning Cryptocurrency trading platform
- $100 minimum deposit,
- FCA & Cysec regulated
- 20% welcome bonus of upto $10,000
- Minimum deposit $100
- Verify your account before the bonus is credited
- Over 100 different financial products
- Invest from as little as $10
- Same-day withdrawal is possible
- Fund Moneta Markets account with a minimum of $250
- Opt in using the form to claim your 50% deposit bonus
Learn to Trade
Never Miss A Trade Again
Signal Notification
Real-time signal notifications whenever a signal is opened, closes or Updated
Get Alerts
Immediate alerts to your email and mobile phone.
Entry Price Levels
Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.