Tron (TRX/USD) Price: Bulls Are Prevailing Over Bears at Support Level of $0.045

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


Strong bullish momentum in the Tron market

TRON Price Analysis – 23 November

An increase in the bulls’ momentum may increase the price above the $0.055 resistance level, and Tron price may increase to $0.058, and $0.061. Should sellers exert more pressure and the daily candle close below the $0.052 level, the price may decrease toward the $0.045 support level, it may extend to $0.040.

TRX/USD Market

Key Levels:

Resistance levels: $0.055, $0.058, $0.061

Support levels: $0.052, $0.045, $0.040

TRX/USD Long-term Trend: Bullish

Tron is on the bullish movement on the daily chart. The support level of $0.45 was tested on 14 November under the pressure from the sellers. The bearish trend commenced on 08 November from the resistance level of $0.064. A daily solid pin bar formed at the support level of $0.045 indicate a pause to bearish movement. Bulls are currently taking over the market as the price is crossing over the dynamic resistance level.

The fast-moving average is crossing the slow-moving average upside as an indication that bulls are prevailing and Tron is trading above the 9-periods EMA and 21-periods EMA. An increase in the bulls’ momentum may increase the price above the $0.055 resistance level, and Tron price may increase to $0.058, and $0.061. Should sellers exert more pressure and the daily candle close below the $0.052 level, the price may decrease toward the $0.045 support level, it may extend to $0.040.

TRX/USD Medium-term Trend: Bullish

On the 4-hour chart, Tron is on the bullish movement. The bearish movement was rejected at the support level of $0.045 on 14 November. A Bullish engulfing candle pattern emerged and the price started increasing toward the resistance level at $0.055. The coin broke up the former resistance level of $0.052. The momentum of bulls is increasing.

Tron is trading above the 9 periods EMA and 21 periods EMA as a sign of a bullish market. The Relative Strength Index period 14 is at 64 levels and the signal line displays a bullish direction.

You can purchase crypto coins 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.