Buyers’ pressure increases in TRON market
TRON Price Analysis – 23 August
The price of TRON may increase to $0.079 and $0.081 levels when the buyers’ momentum exceeds the $0.077 resistance level. If the price of Crypto decreases past the $0.074 barrier level and sellers continue interested, the $0.072 and $0.070 support levels might be broken.
Key Levels:
Resistance levels: 0.077, $0.079, $0.081
Support levels: $0.074, $0.072, $0.070
TRX/USD Long-term Trend: Bullish
TRON is bullish on the daily chart. The bearish trend that commenced on July 28 pushed the price to the low of $0.072 support level. The last support level was shattered as the bearish impetus increased. The initial barrier of $0.081 was overcome by bearish pressure, which then continued. Once a large daily bearish candle formed, the price began to fall more quickly. Now acting as resistance levels are the prices of $0.081, $0.079, and $0.077. Bulls defend the support level of $0.074 and the price is currently increasing.
The fast EMA is trying to cross the slow EMA upside, the coin trades slightly above the dynamic resistance levels. The price of TRON may increase to $0.079 and $0.081 levels when the buyers’ momentum exceeds the $0.077 resistance level. If the price of Crypto decreases past the $0.074 barrier level and sellers continue interested, the $0.072 and $0.070 support levels might be broken.
TRX/USD Medium-term Trend: Bullish
The movement of TRON is bullish on the 4-hour chart. A short “W” chart pattern is noticed at the support levels of $0.070 and $0.074 levels. This is a bullish reversal movement that commences at the mentioned levels. The price is rising as the bulls become more powerful. The price is currently exposed to the resistance level of $0.077. As a result of the buyers’ resistance, the price is inclining. The current price of TRON is between $0.076.
TRON is trading above exponential moving averages of 9 and 21 periods. The relative strength index’s period 14 signal line is pointing higher at level 61, providing a buy signal.
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