There may be a chance for a bullish breakout in the Tron market
TRON Price Analysis – 11 January
Should buyers apply additional force and the daily candle breaks over and close above the $0.055 mark, the price may increase to the $0.058 resistance level and then may reach $0.061. The price of Tron could drop to $0.045 and $0.040 levels if the bears’ momentum breaks through the $0.052 level support level.
Key Levels:
Resistance levels: $0.055, $0.058, $0.061
Support levels: $0.052, $0.045, $0.040
TRX/USD Long-term Trend: Ranging
On the daily chart, Tron is varying. A few weeks ago, the bulls were able to generate enough courage and the price rose from the $0.045 support level. Indicating a price rejection by the bull’s opposition against the bears is the formation of a long-tailed pin bar candle. Price has risen, but $0.058 has presented resistance. Both buyers and sellers are evenly represented, and the price is fluctuating between $0.55 and $0.52 at the moment.
The slow-moving average and quick-moving average are linked, demonstrating continuous range movement. Currently, the price is fluctuating between $0.055 and $0.052, and it appears that both the bulls’ and bears’ impetus are equal. Should buyers apply additional force and the daily candle breaks over and close above the $0.055 mark, the price may increase to the $0.058 resistance level and then may reach $0.061. The price of Tron could drop to $0.045 and $0.040 levels if the bears’ momentum breaks through the $0.052 level support level.
TRX/USD Medium-term Trend: Ranging
According to the 4-hour chart, Tron is moving in a range. The $0.052 support level is still in place and is deterring the sellers’ downward drive. Bullish attempts to surpass the $0.055 resistance level were unsuccessful. Tron is now priced between $0.052 and $0.055.
Tron is currently trading above the 9-period EMA and the 21-period EMA at close contact, indicating a consolidation momentum. The signal line for period 14 of the Relative Strength Index is at 59 levels and is pointing downward which indicates a sell signal.
You can purchase crypto coins here: Buy LBLOCK
- Broker
- Min Deposit
- Score
- Visit Broker
- Award-winning Cryptocurrency trading platform
- $100 minimum deposit,
- FCA & Cysec regulated
- 20% welcome bonus of upto $10,000
- Minimum deposit $100
- Verify your account before the bonus is credited
- Over 100 different financial products
- Invest from as little as $10
- Same-day withdrawal is possible
- Fund Moneta Markets account with a minimum of $250
- Opt in using the form to claim your 50% deposit bonus
Learn to Trade
Never Miss A Trade Again
Signal Notification
Real-time signal notifications whenever a signal is opened, closes or Updated
Get Alerts
Immediate alerts to your email and mobile phone.
Entry Price Levels
Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.