Tron (TRX) Price May Reduce to $0.061

Updated:

Checkmark

Invest at least $250 in D2T to gain lifetime access to our VIP Signals

Checkmark

Get early access to Dash 2 Trade’s Presale. Buy the D2T token now

Checkmark

Existing community of 70,000+ traders

Checkmark

Unlocks access to the leading crypto trading analysis, signals and trading tools

Checkmark

As featured in CryptoNews.com, FXEmpire.com, FXStreet.com and more

Checkmark

World class development team backed by Quant developers and VC investors


Tron Price Analysis – August 24

There is a possibility for the coin to move down and test the support level of $0.061 this week. Should bears increase their pressure, the support level of $0.064 may not hold and it may be exposed to another support level of $0.063.

TRX/USD Market

Key Levels:

Resistance levels: $0.066, $0.069, $0.070

Support levels: $0.064, $0.063, $0.061

TRX/USD Long-term Trend: Bearish

The buyers of TRX/USD were unable to push the price higher far above the resistance level of $0.072. The price fell due to the bearish pressure towards the support level of $0.064. Some bearish candles were formed which further reduces the price last week. The price is below 9-day EMA and 21-day EMA. There is a possibility for the coin to move down and test the support level of $0.061 this week. Should bears increase their pressure, the support level of $0.064 may not hold and it may be exposed to another support level of $0.063.

However, there is probability that the price might go up, in case there is a break out towards the North at $0.066 as the relative strength index Period 14 on the daily chart is at 41 with the signal lines pointing downside, indicating that there could be a bearish movement this week.

TRX/USD Price Medium-term Trend: Bearish

TRX/USD on the medium term is bearish. The coin broke the last week support level of $0.069 and rallied towards the south and the price was exposed to the support level of $0.064. The 9-day EMA interlocked with the 21-day EMA with the price hovering around the two EMAs which indicates that consolidation is ongoing.

In case more sellers come in this week there is a probability that the price will experience downtrend movement towards the support level of $0.061 as the Relative strength Period 14 is below 50 levels, with the signal lines directed towards the south.

You can purchase Lucky Block here.  Buy LBLOCK

 

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.