Tron (TRX/USD) Price: Buyer Are Gaining Momentum After Price Retracement
Login

Tron (TRX/USD) Price: Buyer Are Gaining Momentum After Price Retracement

Estimated Reading Time: 2 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:

An increase in bullish momentum in Tron market

TRON Price Analysis – October 26

When the daily candle close below the $0.061 support level by the bears’ pressure, Tron price may reduce to $0.061, $0.060 levels and may reach $0.058. In case buyers push the price above the resistance level of $0.063, price may test the resistance levels of $0.064 and $0.066.

TRX/USD Market

Key Levels:

Resistance levels: $0.063, $0.064, $0.066

Support levels: $0.061, $0.060, $0.058

TRX/USD Long-term Trend: Bullish

On the daily chart, Tron is bullish on the daily chart. The sellers’ momentum became weak when the price reached the support level of $0.058 on October 13. That is what led to formation of long tailed pin bar daily candle. Buyers gained momentum and the price increases. The former resistance level of $0.060 and $0.061 are already broken upside by the buyers’ pressure. Tron tested the resistance level of $0.063 and pulled back. Buyers are gaining more momentum at the moment.

Tron is trading above the 9 periods EMA and 21 periods EMA. The fast moving average is above the slow moving average as an indication of bullish movement. When the daily candle close below the $0.061 support level by the bears’ pressure, Tron price may reduce to $0.061, $0.060 levels and may reach $0.058. In case buyers push the price above the resistance level of $0.063, price may test the resistance levels of $0.064 and $0.066.

TRX/USD Medium-term Trend: Bullish

On the 4-hour chart, Tron is on the bullish movement. When the price tested the resistance level of $0.063, it pulled back because the level holds. The support level of $0.61 was retested and the price consolidates for few days. Since yesterday, buyers are gaining more pressure and price is increasing.

Tron is trading above the 9 periods EMA and 21 periods EMA as a sign of bullish market. The Relative Strength Index periods 14 is at 63 levels and the signal line displaying bullish direction.

You can purchase crypto coins here: Buy LBLOCK

 

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • 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
$50 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

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
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.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News