Sellers’ momentum may increase further
TRON Price Analysis – 31 January
The price of TRON might break over the $0.110 and $0.114 barriers if the buying momentum continues above the resistance level at $0.108. If selling persists, TRON might be able to break through the $0.105 barrier and reach the support levels of $0.101 and $0.097.
Key Levels:
Resistance levels: $0.1144, $0.1178, $0.1207
Support levels: $0.1107, $0.1084, $0.1050
TRX/USD Long-term Trend: Bullish
The movement of TRON’s daily chart is erratic. The price of the cryptocurrency has been ranging between $0.1084 and $0.1050 for the past four weeks. The purchasers were unable to break through the $0.1084 barrier level. Last week, buyers attempted to push prices beyond $1084, but sellers were unable to break through. The $0.1178 resistance level was retested. Buyers seem to be building momentum today, bringing prices closer to their previous highs.
When the price is above the Hull Suite indication, it is a bullish market. The QQE MOD indicator shows a positive trend because it is above zero. If the purchasing momentum stays over the $0.1144 resistance level, the price of TRON may break through the $0.1178 and $0.1207 obstacles. TRON may be able to overcome the $0.1107 barrier and hit the support levels of $0.1084 and $0.1050 if the selling continues.
TRX/USD Medium-term Trend: Bearish
The 4-hour graphic presents a dismal picture of TRON. The bulls’ excitement has subsided over the past two weeks as TRON has failed to break above the $0.1177 mark. For more than a week, it reversed at the same rate, breaking through the support levels at $0.1107. As the price got closer to the dynamic resistance and beyond the previously indicated barrier, sellers persisted. Bears might keep pushing since the price is trying to drop below the $0.1107 mark.
TRON is now less expensive than the Hull Suite. On the other hand, when the QQE MOD is less than zero, the color red indicates a sell.
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