Tron’s (TRX/USD) Price: Buyers Prevail Above Sellers, $0.072 Level May be Tested
Login

Tron’s (TRX/USD) Price: Buyers Prevail Above Sellers, $0.072 Level May be Tested

Estimated Reading Time: 2 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:

Buyers’ momentum may increase in Tron market

TRON Price Analysis – 03 May

When the price rises past the $0.070 resistance level and buyers maintain their momentum, the $0.072 and $0.074 resistance levels can be hit. The price of Tron may drop to $0.066 and $0.064 levels if the sellers’ momentum breaks through the $0.069 support level.

Key Levels:

Resistance levels: $0.070, $0.072, $0.074

Support levels: 0.069, $0.066, $0.064

TRX/USD Long-term Trend: Bullish

On the daily chart, Tron is in a bullish movement. More than four weeks ago, the cryptocurrency commenced a ranging movement between $0.067 and $0.064 levels. On 12 of April, sellers made an attempt to break down the support level of $0.064 but were unable to maintain the bearish momentum. The buyers gained more momentum on 29 April to break up the $0.067 resistance level. More strong bullish candles formed and break up the $0.069 level. The bullish momentum may continue in the Tron market.

The coin is trading above the dynamic resistance levels as the two EMAs diverge. When the price rises past the $0.070 resistance level and buyers maintain their momentum, the $0.072 and $0.074 resistance levels can be hit. The price of Tron may drop to $0.066 and $0.064 levels if the sellers’ momentum breaks through the $0.069 support level.

TRX/USD Medium-term Trend: Bullish

Tron is on a bullish movement in the 4-hour chart. Buyers eventually prevailed over sellers after a long period of consolidation movement between $0.064 and $0.067 levels. Buyers’ momentum increased and broke up the $0.067 level. Price is currently struggling to break up the $0.070 resistance level.

The exponential moving averages of 9 and 21 periods are currently being crossed upside by Tron. The period 14 signal line of the relative strength index is heading downward at level 59 and is giving a sell signal which may be a pullback.

You can purchase crypto coins here: Buy LBLOCK

 

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
Entry Price Levels

Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News