Sellers may dominate TRON’s market soon
TRON Price Analysis – 18 October
The price of TRON may increase to $0.094 and $0.097 levels if buyers’ momentum breaks through the $0.090 resistance level. If the price of TRON drops below the $0.085 barrier level and sellers continue to be interested, the support levels of $0.082 and $0.081 may be breached.
Key Levels:
Resistance levels: $0.090, $0.094, $0.097
Support levels: 0.085, $0.082, $0.081
TRX/USD Long-term Trend: Bearish
On the daily chart, TRON is now trading in the red. The upward trend that started on August 18th reached its high at the $0.090 resistance level on 03 October. Sellers are holding the level while the price tries to move above it. Price was consolidated last week between $0.09 and $0.085 levels. It appears that sellers are putting greater pressure on the market. Last week, the price pulled back to retest the previous high at $0.090. Right now, sellers’ pressure is increasing.
The coin’s price is currently being pushed below the dynamic support levels as the fast EMA is currently crossing the slow EMA lower. The price of TRON may increase to $0.094 and $0.097 levels if buyers’ momentum breaks through the $0.090 resistance level. If the price of TRON drops below the $0.085 barrier level and sellers continue to be interested, the support levels of $0.082 and $0.081 may be breached.
TRX/USD Medium-term Trend: Ranging
On the 4-hour chart for TRON, the price trend is bearish. The bulls’ impetus dwindled when TRON tested the $0.090 resistance level, making it impossible for them to overcome it. For a week, it fluctuates around the same level. Bears are exerting further pressure, and $0.085 may be breached on the negative.
TRON is currently trading between both the exponential moving averages of 9 and 21 periods. The relative strength index’s period 14 signal line is pointing downward at level 67, signaling a sell.
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