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TRON Price Analysis – 12 July
In case the price of Crypto advances past the $0.079 resistance level and buyers stay active, the $0.081 and $0.082 resistance levels can be approached. The price of Tron may fall to $0.074 and $0.072 levels if the sellers’ momentum surpasses the $0.077 support level.
Key Levels:
Resistance levels: $0.079, $0.081, $0.082
Support levels: 0.077, $0.074, $0.072
TRX/USD Long-term Trend: Bullish
TRON is moving upwards on the daily chart. When the bears lose impetus, on June 20, the bullish trend started around the $0.67 support level. $0.072, the previous resistance level, was breached. Bullish pressure succeeded in breaking through the previous barrier. After a significant daily bullish candle developed, the price began to rise even more. $0.074 and $0.077, which were formerly resistance levels, have been changed to support levels. The current resistance level for the coin is $0.79.
As the two EMAs parted, the coin traded above the dynamic resistance levels. In case the price of Crypto advances past the $0.079 resistance level and buyers stay active, the $0.081 and $0.082 resistance levels can be approached. The price of Tron may fall to $0.074 and $0.072 levels if the sellers’ momentum surpasses the $0.077 support level.
TRX/USD Medium-term Trend: Bullish
On the 4-hour chart, TRON is moving in a bullish direction. A bullish reversal chart pattern called a double bottom was created by the price movement. The bulls gained speed and started to soar higher. Price burst through levels of $0.072 and $0.77. Moving upward toward the $0.079 zone is underway.
9- and 21-period exponential moving averages have been split apart by TRON. The period 14 signal line for the relative strength index is pointing downward at level 56, giving a sell signal which may be a pullback.
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