TRON (TRX/USD) Price: Buyers’ Momentum Increases Towards $0.079 Level

Buyers are dominating TRON market

TRON Price Analysis – 05 July

The $0.081 and $0.082 resistance levels can be approached if the price of Crypto moves past the $0.079 resistance level and buyers remain active. If the sellers’ momentum overcomes the $0.077 support level, the price of TRON could decline to $0.074 and $0.072 levels.

Key Levels:

Resistance levels: $0.079, $0.081, $0.082

Support levels: 0.077, $0.074, $0.072

TRX/USD Long-term Trend: Bullish

On the daily chart, TRON is moving upwards. The bullish trend commenced on 20 June at $0.67 support level when the bears lose momentum. The former resistance level of $0.072 was penetrated. Bullish pressure was able in pushing past the prior level. A strong daily bullish candle formed and the price started increasing further. The former resistance level of $0.074 and $0.077 has been converted to support levels. The coin is currently targeting $0.79 resistance level.

The coin trades above the dynamic resistance levels as the two EMAs separate. The $0.081 and $0.082 resistance levels can be approached if the price of Crypto moves past the $0.079 resistance level and buyers remain active. If the sellers’ momentum overcomes the $0.077 support level, the price of Tron could decline to $0.074 and $0.072 levels.

 

TRX/USD Medium-term Trend: Bullish

On the 4-hour chart, TRON is moving in a bullish direction. The price action formed a double-bottom chart pattern, which is a bullish reversal chart pattern. The bulls gathered momentum to soar like eagle. The price broke up $0.072 and $0.77 levels. Upward movement is ongoing around towards $0.079 zone.

TRON has broken up 9- and 21-period exponential moving averages. The relative strength index’s period 14 signal line is pointing up at level 57, indicating a buy signal.

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