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TRON retests $0.085 resistance level
TRON Price Analysis – 27 September
When the buyers’ momentum breaks through the $0.085 resistance level, the price of TRON may rise to $0.090 and $0.094 levels. The support levels of $0.081 and $0.078 may be breached if the price of TRON falls below the $0.082 barrier level and sellers remain interested.
Key Levels:
Resistance levels: 0.085, $0.090, $0.094
Support levels: $0.082, $0.081, $0.078
TRX/USD Long-term Trend: Bullish
TRON is trading in the green on the daily chart. The market is currently being controlled by buyers as it tries to move above the $0.085 threshold. An upward trend that started on August 18 caused the price to break up $0.081 resistance level. The prior level of resistance was broken as the bullish momentum grew stronger. The $0.082 barrier remained in place, and bullish pressure persisted. The price increased more quickly on September 12 when a massive daily bullish candle developed and a head and shoulders chart pattern appeared. It eventually hits $0.085 level. Momentum for the bulls is currently waning.
The coin is trading above the dynamic resistance levels at the moment since the fast EMA has crossed the slow EMA higher. When the buyers’ momentum breaks through the $0.085 resistance level, the price of TRON may rise to $0.090 and $0.094 levels. The support levels of $0.081 and $0.078 may be breached if the price of TRON falls below the $0.082 barrier level and sellers remain interested.
TRX/USD Medium-term Trend: Bullish
On the 4-hour chart, TRON’s movement is bullish. At the corresponding supports of $0.070 and $0.074, respectively, a brief “W” chart pattern forms. These levels mark the beginning of this bullish reversal trend. The price is increasing as the bulls gain traction. The resistance level of $0.082 has been overcome by the price, moving higher. TRON is having trouble passing the $0.085 barrier.
TRON is currently trading above the 9- and 21-period exponential moving averages. The period 14 signal line for the relative strength index is pointing up at level 62, giving a buy signal.
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