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Buyers’ pressure increase further in TRON market
TRON Price Analysis – 08 May
If the buying trend continues over $0.127, the price of TRON might be able to break through the $0.134 and $0.138 barriers. On the other hand, the price may fall to $0.117 and $0.114 if the declining trend continues below $0.120.
Key Levels:
Resistance levels: $0.127, $0.134, $0.138
Support levels: $0.120, $0.117, $0.114
TRX/USD Long-term Trend: Bullish
The TRON daily chart is skewed. Following a lengthy downward trend, the coin’s price broke through the $0.101 barrier on April 19. Buyers were able to maintain a steady line at $0.101. The previously reported support barrier proven to be unbreakable for TRON. The price is rising. Less selling has occurred throughout the last two weeks, and the price has increased after momentarily touching the $0.114 barrier level. The pin bar candle that formed on the chart illustrates the buyers’ momentum. This week could see some profitable trades towards $0.127 level.
Bulls are holding the $0.120 support level in place. Bulls are in control when the price of TRON is above the Hull Suite forex signals indicator. The QQE MOD Crypto signals indication shows a positive trend because it is greater than zero. If the buying trend continues over $0.127, the price of TRON might be able to break through the $0.134 and $0.138 barriers. On the other hand, the price may fall to $0.117 and $0.114 if the declining trend continues below $0.120.
TRX/USD Medium-term Trend: Bullish
The image’s first four hours show how persistent TRON is. Since TRON is currently trading above $0.120, the bears’ fervor has subsided. It steadily increased for about a week before surpassing the $0.117 and $0.114 barrier levels. As the price breaks past the previous barrier and gets closer to the $0.127 resistance level, buyers defend the level. When the currency breaks over $0.127, bulls can try to push it higher.
Right now, the Hull Suite is less costly than TRON. Additionally, when the QQE MOD is higher than zero level, the color blue indicates a buy.
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