Tron’s (TRX/USD) Price Is Pressing Hard at $0.066 Resistance Level, an Increase Envisaged

Updated:

Checkmark

Service for copy trading.

Checkmark

High profitable signals.

Checkmark

24/7 cryptocurrency trading.

Checkmark

10 minute setup with significant benefits.

Checkmark

79% Success rate.

Checkmark

Up to 40 trades per month.

Checkmark

Monthly subscriptions begin at £58.


Buyers may continue to dominate the Tron market

 TRON Price Analysis – 08 February

When buyers apply further pressure and the daily candle crosses over and closes above the $0.066 threshold, Tron may increase to the $0.069 resistance level before it tests $0.070 level. The price of Tron could drop to $0.061 and $0.058 levels if the bears’ momentum breaks through the $0.064 support level.

Key Levels:

Resistance levels: $0.066, $0.069, $0.070

Support levels: $0.064, $0.061, $0.058

TRX/USD Long-term Trend: Bullish

Tron is bullish on the daily chart. After the price bounced off the $0.052 support level, the bulls’ momentum caused the price to surpass the prior resistance level of $0.058, $0.061, and $0.064.The bulls got the confidence to attempt the $0.064 resistance level last week. Bulls gained momentum to break $0.064 and tested $0.066 level.

With positive action, Tron is currently trading above the slow and quick-moving averages. When buyers apply further pressure and the daily candle crosses over and closes above the $0.066 threshold, the price may increase to the $0.069 resistance level before it tests $0.070 level. The price of Tron could drop to $0.061 and $0.058 levels if the bears’ momentum breaks through the $0.064 support level.

TRX/USD Medium-term Trend: Bullish

On the 4-hour chart, Tron is moving higher. Early last week, sellers dominated the market and the price retraced to $0.058 level. The $0.58 support level exists and halts the downward momentum of the sellers. The buyers were favored in their attempt to breach the $0.064 resistance level. The price of Tron is currently pressing hard at the $0.066 resistance level.

Tron is currently trading above the 9-period EMA and the 21-period EMA indicating bullish momentum. The signal line for period 14 of the Relative Strength Index is at 62 levels and is pointing upward indicating a buy signal.

You can purchase crypto coins here: Buy LBLOCK

 

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • 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
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.