Commencement of Bullish movement in TRON market
TRON Price Analysis – 20 December
The price of TRON may surpass the $0.104 and $0.110 barriers if the buying trend continues over the resistance level at $0.101. If TRON drops below $0.097, it may be able to cross the $0.094 and $0.090 support levels should selling persist.
Key Levels:
Resistance levels: $0.101, $0.104, $0.110
Support levels: $0.097, $0.094, $0.090
TRX/USD Long-term Trend: Bearish
On the daily chart, TRON is on a bearish movement. Last week, the coin was on a ranging movement between $0.110 and $0.104 levels. This scenario has been in place for more than two weeks. On 18 December, sellers prevailed the support level of $0.110 was penetrated and the price was heading toward the support level of $0.094 level. The price is now pulling back towards the $0.101 resistance level. There is a tendency for TRON to decline further.
The coin’s price is moving below the two EMAs as a sign of a bearish market since the fast EMA has crossed slow EMA downside. The price of TRON may surpass the $0.104 and $0.110 barriers if the buying trend continues over the resistance level at $0.101. If TRON drops below $0.097, it may be able to cross the $0.094 and $0.090 support levels should selling persist.
TRX/USD Medium-term Trend: Bullish
The 4-hour chart displays a bullish for TRON. The bears’ excitement subsided when TRON attempted to breach the $0.097 barrier level but was unable. For a week, it varies at the same rate. The seller was holding the $101 mark as the price got closer to $0.097. Bulls are still trying to oppose bears. The price is currently turning back towards the north. It is currently exposed to $0.104 resistance level.
Right now, the price of TRON is higher than the exponential moving averages with 9 crossing 21-day periods upside. The relative strength index’s period 14 signal line is rising at level 50, indicating a potential upward trend.
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