Tron (TRX) Price Struggling to Break Down $0.06 Level

Updated:

Tron Price Analysis – September 14

In case the buyers fully defend the support level of $0.060 there is probability that price might go up towards the resistance levels of $0.061, $0.063 and $0.064. In case sellers’ momentum increases, the price will experience a downtrend movement beyond the support level of $0.060, $0.059 and $0.058.

TRX/USD Market

Key Levels:

Resistance levels: $0.061, $0.063, $0.064

Support levels: $0.060, $0.059, $0.058

TRX/USD Long-term Trend: Bearish

TRXUSD is bearish on the daily chart. Sellers’ momentum is increasing in the Tron market. The price is equally decreasing as usual. Bears continue to dominate the TRON market. Last week, the price was trading above the $0.064 before the sellers interrupted the buyers. When buyers of TRX/USD were unable to push the price higher far above the resistance level of $0.064, sellers pushed price towards the support level of $0.060. Strong bearish candles were produced which further reduces the price. TRXUSD retain its position below 9-day EMA and 21-day EMA which indicate a bearish signal.

In case the buyers fully defend the support level of $0.060 there is probability that price might go up towards the resistance levels of $0.061, $0.063 and $0.064. The relative strength index Period 14 on the daily chart is at 41 with the signal lines pointing downside indicating sell.

TRX/USD Price Medium-term Trend: Bearish

TRX/USD on the medium term is bearish. An attempt made by the buyers to push the coin above the resistance level of $0.064 was aborted by the sellers’ pressure. The Crypto is decreasing, broke down the support levels of $0.63 and $0.61.

At the moment, it is struggling to break down $0.060 level. In case sellers’ momentum increases, the price will experience a downtrend movement beyond the support level of $0.060, $0.059 and $0.058. The Relative strength index Period 14 is at 38 levels with the signal lines directed towards the north.

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
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • 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.

  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • 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.