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TRON Price Analysis – 07 February
The price of TRON might overcome the $0.127 and $0.130 barriers if the buying trend continues over the $0.125 resistance mark. If selling persists, TRON might be able to break through the $0.120 barrier and reach the support levels of $0.117 and $0.114.
Key Levels:
Resistance levels: $0.125, $0.127, $0.130
Support levels: $0.120, $0.117, $0.114
TRX/USD Long-term Trend: Bullish
The daily chart of TRON moves in a bullish predictable way. For the last four weeks, the cryptocurrency’s price fluctuated between $0.117 and $0.114. The $0.117 barrier level was overcome by the buyers. Buyers tried last week to drive prices beyond $0.117 level, but sellers were unable to hold the line. The resistance level at $0.125 was tested. Price pulled back. At the moment, it appear to be approaching the prior highs as buyers appear to be gaining traction today. Join best forex signals telegram.
TRON market is under bulls’ pressure when the price is above the Hull Suite indicator. Since the QQE MOD indicator is above zero, it displays a positive trend. The price of TRON might overcome the $0.127 and $0.130 barriers if the buying trend continues over the $0.125 resistance mark. If selling persists, TRON might be able to break through the $0.120 barrier and reach the support levels of $0.117 and $0.114.
TRX/USD Medium-term Trend: Bearish
An increasing image of TRON is shown in the 4-hour graphic. Over the last two weeks, TRON has failed to break below $0.114, which has calmed the bears’ enthusiasm. It reversed at the same pace for over a week, breaking through the $0.117 and $0.120 resistance levels. Buyers held on as the price approached the dynamic resistance and crossed over the previously marked barrier. Since the price is attempting to go above the $0.120 threshold, bulls may continue to press.
The Hull Suite is now less expensive than TRON. Conversely, the color red denotes a buy when the QQE MOD is more than zero.
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