Bearish breakout envisaged in TRON’s market
TRON Price Analysis – 13 December
The price of TRON may surpass the $0.110 and $0.112 barriers if the buying trend continues over the resistance level at $0.104. If TRON drops below $0.101, it may be able to cross the $0.097 and $0.094 support levels should selling persist.
Key Levels:
Resistance levels: $0.104, $0.110, $0.112
Support levels: $0.101, $0.097, $0.094
TRX/USD Long-term Trend: Ranging
The trading range for TRON is narrow. On the daily chart, the coin was showing a red last week. The price is now reaching the $0.110 resistance level, thanks to the upward momentum that began three weeks ago. The double-top chart pattern was formed as a result of two tests of the previously indicated level. Sellers were able to hold onto the price at its highest point of $0.110 on November 26. The market was under less buyer pressure. On November 14, the price began to fall as a double top chart pattern appeared. Low volatility sets in as the $0.101 support level is put to the test. The current range of the TRON market is between $0.104 and $0.101 levels.
The coin’s price moved over and around the EMAs as a sign of a ranging market since the fast and slow EMAs are linked. The price of TRON may surpass the $0.110 and $0.112 barriers if the buying trend continues over the resistance level at $0.104. If TRON drops below $0.101, it may be able to cross the $0.097 and $0.094 support levels should selling persist.
TRX/USD Medium-term Trend: Ranging
The 4-hour chart displays a range for TRON. The bulls’ excitement subsided when TRON attempted to breach the $0.110 barrier level but was unable. For a week, it varies at the same rate. Sellers are holding the $110 mark as the price gets closer to $0.094, and bulls are still trying to test the previously marked resistance level. The price is currently stabilizing between the $0.104 and $0.101 levels.
Right now, the price of TRON is lower than the exponential moving averages with 9 and 21-day periods. The relative strength index’s period 14 signal line is falling at level 48, pointing to a potential downward trend.
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