TRON (TRX/USD) Price: Bulls’ Momentum Is Becoming Weak at $0.085

Bearish reversal envisaged in TRON market

TRON Price Analysis – 20 September

The price of TRON may increase to $0.090 and $0.094 levels when the buyers’ momentum breaks through the $0.085 resistance level. If the price of TRON drops below the $0.082 barrier level and sellers continue to be interested, the support levels of $0.081 and $0.078 may be breached.

Key Levels:

Resistance levels: 0.085, $0.090, $0.094

Support levels: $0.082, $0.081, $0.078

TRX/USD Long-term Trend: Bullish

On the daily chart, TRON is in the green. Buyers are currently in charge of the market as it attempts to rise over the $0.081 level. On July 28, a negative trend began, which caused the price to fall to the $0.072 support level. As the bearish momentum intensified, the previous level of support was breached. Bearish pressure persisted as the $0.081 barrier stayed intact. After a large daily bullish candle formed, the price proceeded to rise more quickly on 12 September after the formation of a head and shoulder chart pattern. Eventually, it reaches the $0.085 level. The bulls’ momentum is becoming weak at the moment.

The fast EMA has crossed the slow EMA upward, and the coin is currently trading above the dynamic resistance levels. The price of TRON may increase to $0.090 and $0.094 levels when the buyers’ momentum breaks through the $0.085 resistance level. If the price of TRON drops below the $0.082 barrier level and sellers continue to be interested, the support levels of $0.081 and $0.078 may be breached.

TRX/USD Medium-term Trend: Bullish

TRON’s movement is bullish on the 4-hour chart. A short “W” chart pattern develops at the corresponding supports of $0.070 and $0.074, respectively. This bullish reversal trend has its beginning at these levels. As the bulls gather momentum, the price is rising. The price has broken through the $0.078 resistance level to the upside. TRON is having difficulty crossing the $0.085 threshold.

TRON is trading above exponential moving averages of 9 and 21 periods. The relative strength index’s period 14 signal line is pointing higher at level 62, providing a buy signal.

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