Bears’ pressure increases in TRON market
TRON Price Analysis – 13 March
If the purchasing trend continues above the $0.134 resistance level, the price of TRON may break above the $0.138 and $0.140 obstacles. TRON may overcome the $0.127 barrier and hit the support levels of $0.120 and $0.117 if the selling continues.
Key Levels:
Resistance levels: $0.134, $0.138, $0.140
Support levels: $0.127, $0.120, $0.117
TRX/USD Long-term Trend: Bearish
The daily chart of TRON exhibits bearish movement. The price of the coin tested the resistance level of $0.144 on 28 February after a long period of bullish trend. Sellers were able to maintain a stable line at $0.144 level. TRON bounces off the just-mentioned resistance level. The price is decreasing. Buyer activity appears to be decreasing since last week, and the price is getting close to the support level at $0.127.
When the price of TRON is lower than the Hull Suite forex signals indicator, bears are pushing the market lower. The QQE MOD Crypto signals indicator shows a negative trend because it is below zero. If the purchasing trend continues above the $0.134 resistance level, the price of TRON may break above the $0.138 and $0.140 obstacles. TRON may overcome the $0.127 barrier and hit the support levels of $0.120 and $0.117 if the selling continues.
TRX/USD Medium-term Trend: Bearish
The image that covers the first four hours shows how TRON repelled. The fact that TRON has been trading below $0.134 level for the past on week has calmed the bulls’ enthusiasm. For about a week, it decreased at the same rate and overcame the $0.134, $0.138 support levels. As the price passed through the previous barrier and got closer to the $0.127 support level, sellers held on. Bears can keep driving the coin lower if it tries to cross the $0.127 level.
As of right now, TRON is less expensive than the Hull Suite. Furthermore, when the QQE MOD is lower than zero, the color red indicates a sell.
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