Tron (TRX/USD) Price Is Struggling to Break Up $0.063 Resistance Level

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Low bearish momentum in Tron market

TRON Price Analysis – October 19

Should the buyers push the Tron above the resistance level of $0.063, price may increase towards the resistance levels of $0.064 and $0.066. In case the daily candle close below the $0.061 support level by the sellers’ pressure, Tron price may decline to $0.061, $0.060 levels and may extend to $0.058.

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 are getting wearied when the price reached the support level of $0.058. There was a sudden price pullback by bulls’ pressure. Buyers are gradually gaining momentum and the price is increasing. The former resistance level of $0.060 and $0.061 are already broken upside by the buyers’ pressure. Tron is trying to break up the resistance level of $0.063.

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. Should the buyers push the price above the resistance level of $0.063, price may increase towards the resistance levels of $0.064 and $0.066. In case the daily candle close below the $0.061 support level by the sellers’ pressure, Tron price may decline to $0.061, $0.060 levels and may extend to $0.058.

TRX/USD Medium-term Trend: Ranging

Tron is on the ranging movement in the 4-hour chart. The resistance level of $0.063 holds and the buyers have no enough pressure to break it up. The sellers equally have low pressure and could not break down the support level of $0.062. The crypto is ranging within the two mentioned levels at the moment.

Tron is trading around the 9 periods EMA and 21 periods EMA as a sign of ranging market. The Relative Strength Index periods 14 is at 53 levels and the signal line displaying bullish direction.

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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.