TRON’s (TRX/USD) Price Dangling Between $0.101 and $0.105 Levels

Buyers may take over TRON’s market

TRON Price Analysis – 10 January

The price of TRON has the potential to surpass the $0.108 and $0.110 barriers if the buying trend continues over the resistance level at $0.105. If selling persists, TRON could be able to break through the support levels of $0.097 and $0.095 if it drops below $0.101 level.

Key Levels:

Resistance levels: $0.105, $0.108, $0.110

Support levels: $0.101, $0.097, $0.095

TRX/USD Long-term Trend: Bullish

The daily chart of TRON is exhibiting a ranging movement. Since three weeks ago, the cryptocurrency has been fluctuating between $0.108 and $0.101 levels. The sellers’ attempts to breach the $0.101 support level are unsuccessful. Last week, buyers attempted, but sellers resisted the change. Currently, buyers’ and sellers’ momentum seems to be equal and the ranging movement continues.

A ranging market is indicated by the fact that the price is hovering over the Hull Suite indicator. The QQE MOD indicator is below zero level displaying an indecision signal. The price of TRON has the potential to surpass the $0.108 and $0.110 barriers if the buying trend continues over the resistance level at $0.105. If selling persists, TRON could be able to break through the support levels of $0.097 and $0.095 if it drops below $0.101 level.

TRX/USD Medium-term Trend: Bullish

Based on the 4-hour chart, TRON is bullish. The last two weeks saw a decrease in the bulls’ euphoria as TRON failed to break beyond the $0.110 resistance level. It reversed simultaneously for over a week, staying inside the $0.105 and $0.101 barrier levels. Buyers continued as the price approached $0.105 and is already beyond the previously mentioned barrier. Bulls may continue to exert pressure, and the price is aiming to break up $0.105 mark.

At the moment, the price of TRON is higher than the Hull Suite. However, QQE MOD is below zero level with red color indicating sell.

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