Buyers are in control of TRON market
TRON Price Analysis – 13 September
When the buyers’ momentum crosses the $0.081 resistance level, the price of TRON may rise to $0.082 and $0.085 levels. The support levels of $0.078 and $0.074 may be breached if the price of TRON declines past the $0.079 barrier level and sellers remain interested.
Key Levels:
Resistance levels: 0.081, $0.082, $0.085
Support levels: $0.079, $0.078, $0.074
TRX/USD Long-term Trend: Bullish
TRON is bullish on the daily chart. The market is currently being controlled by buyers as it is trying to breach $0.081 level upside. The bearish trend started on July 28; consequently, the price dropped to the $0.072 support level. The prior level of support was broken as the bearish momentum grew. The $0.081 barrier remained intact, and bearish pressure persisted. The price started to decline more swiftly after a massive daily bearish candle developed, and it eventually reached the $0.074 level. The $0.077 level serves as a hurdle for bulls as the price bounces.
The coin is trading above the dynamic resistance levels as the fast EMA has crossed the slow EMA upward. When the buyers’ momentum crosses the $0.081 resistance level, the price of TRON may rise to $0.082 and $0.085 levels. The support levels of $0.078 and $0.074 may be breached if the price of TRON declines past the $0.079 barrier level and sellers remain interested.
TRX/USD Medium-term Trend: Bullish
The movement of TRON is bullish on the 4-hour chart. At the respective supports of $0.070 and $0.074, a short “W” chart pattern is formed. These levels mark the beginning of this bullish reversal trend. The price is increasing as the bulls gain traction. The $0.078 resistance level has been penetrated upside by the price right. TRON is having trouble breaching the $0.081 zone.
TRON is trading above exponential moving averages of 9 and 21 periods. The relative strength index’s period 14 signal line is pointing higher at level 62, providing a buy signal.
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