Tron (TRX/USD) Price: Buyers May Take Over Tron’s Market

Buyers’ momentum is increasing in Tron market

TRON Price Analysis – 14 June

In case the price of Crypto advances past the $0.071 support level and sellers continue to be active, the $0.069 and $0.067 support levels can be approached. The price of Tron could increase to $0.074 and $0.077 levels if the buyers’ momentum breaks through the $0.072 resistance level.

Key Levels:

Resistance levels: $0.072, $0.074, $0.077

Support levels: $0.071, 0.069, $0.067

TRX/USD Long-term Trend: Bearish

On the daily chart, Tron is moving downwards. At the low of $0.61 on March 31, the bullish trend started. The resistance level high of $0.085 was reached on June 3. Bullish pressure was unable in pushing past the prior level. A strong inverted pin bar candle formed and the price started decreasing. The former resistance level of $0.67 and $0.69 has been converted to support levels. The low of $0.064 level was tested on 10 June and the price is rebounding heading north.

The coin trades below the dynamic resistance levels as the two EMAs separate. In case the price of Crypto advances past the $0.071 support level and sellers continue to be active, the $0.069 and $0.067 support levels can be approached. The price of Tron could increase to $0.074 and $0.077 levels if the buyers’ momentum breaks through the $0.072 resistance level.

TRX/USD Medium-term Trend: Bullish

On the 4-hour chart, Tron is moving in a bullish direction. Sellers eventually drove the price to the $0.064 support level after a protracted period of bearish movement. The price is dropping as the selling craze intensifies in an effort to break through the $0.064 level, but the buyers defended the just mention level and the price bounces up.

 

Tron has broken up its 9- and 21-period exponential moving averages. The relative strength index’s period 14 signal line is pointing up at level 54, indicating a buy signal.

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