Buyers gain more momentum in TRON market
TRON Price Analysis – 06 September
The price of TRON may increase to $0.079 and $0.081 levels when the buyers’ momentum crosses the $0.077 resistance level. If the price of cryptocurrency declines past the $0.074 barrier level and sellers continue interested, the support levels of $0.072 and $0.070 may be violated.
Key Levels:
Resistance levels: 0.077, $0.079, $0.081
Support levels: $0.074, $0.072, $0.070
TRX/USD Long-term Trend: Bullish
TRON is bullish on the daily chart. Buyers are currently in charge of the market. On July 28, the downward trend began, and as a result, the price decreased to the $0.072 support level. The previous support level was shattered as the bearish momentum strengthened. The barrier of $0.081 could not be broken, and bearish pressure continued. As a large daily bearish candle formed, the price began to fall more quickly and landed at $0.074 level. The price bounces and the $0.077 level serves as a barrier for bulls.
The fast EMA has crossed the slow EMA upward as the coin trades just above the dynamic resistance levels. The price of TRON may increase to $0.079 and $0.081 levels when the buyers’ momentum crosses the $0.077 resistance level. If the price of cryptocurrency declines past the $0.074 barrier level and sellers continue interested, the support levels of $0.072 and $0.070 may be violated.
TRX/USD Medium-term Trend: Bullish
The movement of TRON is bullish on the 4-hour chart. A short “W” chart pattern may be seen at the supports of $0.070 and $0.074, respectively. The start of this bullish reversal trend is at the levels described above. As the bulls gather momentum, the price is rising. The price is currently testing the $0.077 resistance level. TRON is struggling to break up $0.077 zone.
TRON is trading above exponential moving averages of 9 and 21 periods. The relative strength index’s period 14 signal line points higher at level 56, providing a buy signal.
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