TRON (TRX/USD) Price: Buyers Are Gathering Momentum to Break Up $0.0071 Level

Azeez Mustapha

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 Buyers’ momentum may increase in Tron market

TRON Price Analysis – 21 June

The $0.067 and $0.061 support levels can be approached if the price of Crypto moves past the $0.069 support level and sellers remain active. If the buyers’ momentum overcomes the $0.071 resistance level, the price of TRON could rise to $0.072 and $0.074 levels.

Key Levels:

Resistance levels: $0.071, $0.072, $0.074

Support levels: 0.069, $0.067, $0.61

TRX/USD Long-term Trend: Bearish

On the daily chart, TRON is moving downwards. The bearish trend commenced on 03 June at $0.82 resistance level when the bulls lose momentum. The former support level of $0.074 was penetrated. Bearish pressure was able in pushing past the prior level. A strong daily bearish candle formed and the price started decreasing further. The former resistance level of $0.072 and $0.071 has been converted to resistance levels. The low of $0.061 level was tested on 10 June and the price is rebounding heading north. At the moment, it is consolidating around $0.070 zone.

The coin trades closely below the dynamic resistance levels as the two EMAs separate. The $0.067 and $0.061 support levels can be approached if the price of Crypto moves past the $0.069 support level and sellers remain active. If the buyers’ momentum overcomes the $0.071 resistance level, the price of Tron could rise to $0.072 and $0.074 levels.

TRX/USD Medium-term Trend: Bullish

On the 4-hour chart, Tron’s (TRX/USD) Price: Buyers Are Gathering Momentum to Break Up $0.0071 Level. This is a bullish reversal chart pattern. The bulls are gathering momentum to soar like eagle. The price is trying to break up the $0.071 level. Ranging movement is ongoing around the $0.070 zone.

TRON is trying to break up its 9- and 21-period exponential moving averages. The relative strength index’s period 14 signal line is pointing up at level 55, indicating a buy signal.

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

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