Tron’s (TRX/USD) Price: Can This Be a Bearish Reversal or Pullback?
Login

Tron’s (TRX/USD) Price: Can This Be a Bearish Reversal or Pullback?

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

Azeez Mustapha

Updated:

Sellers may dominate the Tron market soon

TRON Price Analysis – 25 January

The price of Tron may drop to $0.055 and $0.052 levels if the bears’ momentum breaks through the $0.058 support level. Should buyers apply additional force and the daily candle breaks over and close above the $0.061 mark, the price may increase to the $0.064 resistance level and then may reach $0.066.

Key Levels:

Resistance levels: $0.061, $0.064, $0.066

Support levels: $0.058, $0.055, $0.052

TRX/USD Long-term Trend: Bullish

On the daily chart, Tron is bullish. The resistance level of $0.064 was tested when the bulls mustered up the bravery a few weeks ago. The price bounced from the $0.052 support level and the bulls’ momentum forced the price to break up the former resistance level of $0.052, $0.055. The price has tested $0.064 level twice, indicating that there may be a bearish reversal at the mentioned level.

At the moment, Tron is pulling back and it is trading between the slow-moving average and quick-moving average demonstrating bearish movement. The price of Tron may drop to $0.055 and $0.052 levels if the bears’ momentum breaks through the $0.058 support level. Should buyers apply additional force and the daily candle breaks over and close above the $0.061 mark, the price may increase to the $0.064 resistance level and then may reach $0.066.

TRX/USD Medium-term Trend: Bearish

On the 4-hour chart, Tron is moving lower. The presence of the $0.64 resistance level halts the buyers’ upward momentum. Bears’ attempt to break through the $0.061 support level was successful. The current price of Tron is towards the support level of $0.058.

Tron is currently trading below the 9-period EMA and the 21-period EMA indicating bearish momentum. The signal line for period 14 of the Relative Strength Index is at 42 levels and is pointing upward indicating a buy 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