Sellers’ momentum is increasing in Tron market
TRON Price Analysis – 24 May
Tron could fall to $0.072 and $0.070 levels if the sellers’ momentum pushes through the $0.074 support level, The $0.079 and $0.081 resistance levels can be reached if Tron moves past the $0.077 resistance level and buyers keep their zeal.
Key Levels:
Resistance levels: $0.077, $0.079, $0.081
Support levels: 0.074, $0.072, $0.070
TRX/USD Long-term Trend: Bearish
On the daily chart, Tron is moving downwards. After the bullish breakout at the support level of $0.070 on 20 May, bulls’ momentum continuously increased. The former resistance levels of $0.072 and $0.074 turned to support. The high of $0.079 resistance level was reached on 23 May. Bullish pressure failed and the just-mentioned level could not be penetrated. Today, a strong daily bearish engulfing candle emerges and the price is reducing.
The coin retains its trading above the dynamic resistance levels as the two EMAs diverge. The $0.079 and $0.081 resistance levels can be reached if the price moves past the $0.077 resistance level and buyers keep their zeal. If the sellers’ momentum pushes through the $0.074 support level, the price of Tron could fall to $0.072 and $0.070 levels.
TRX/USD Medium-term Trend: Bearish
On the 4-hour chart, Tron is moving in a bearish direction. After a protracted period of consolidation movement between $0.064 and $0.067 levels, buyers eventually placed the price at $0.079 resistance level. As the momentum of purchases become weak, the price is pulling back trying to penetrate the $0.077 level downside.
Tron is currently breaking down its 9- and 21-period exponential moving averages. The relative strength index’s period 14 signal line is pointing down at level 58, indicating a sell signal.
You can purchase crypto coins here: Buy LBLOCK
- Broker
- Min Deposit
- Score
- Visit Broker
- Award-winning Cryptocurrency trading platform
- $100 minimum deposit,
- FCA & Cysec regulated
- 20% welcome bonus of upto $10,000
- Minimum deposit $100
- Verify your account before the bonus is credited
- Over 100 different financial products
- Invest from as little as $10
- Same-day withdrawal is possible
- Fund Moneta Markets account with a minimum of $250
- Opt in using the form to claim your 50% deposit bonus
Learn to Trade
Never Miss A Trade Again
Signal Notification
Real-time signal notifications whenever a signal is opened, closes or Updated
Get Alerts
Immediate alerts to your email and mobile phone.
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.