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Buyers are dominating TRON’s market
TRON Price Analysis – 25 October
If buyers’ momentum clears the $0.094 resistance level, TRON’s price could rise to the $0.097 and $0.104 levels. If sellers remain interested and the price of TRON falls below the $0.090 barrier, the support levels of $0.085 and $0.082 can be broken.
Key Levels:
Resistance levels: $0.094, $0.097, $0.104
Support levels: $0.090, 0.085, $0.082
TRX/USD Long-term Trend: Bullish
TRON is now trading in the green on the daily chart. On October 3, the upward trend that began on August 18 peaked at the $0.090 resistance level. As the price attempts to climb above the level, sellers are holding it. Last week, the price pulled back to retest the $0.085 level. It seems like the market is being pressured more by buyers. On 15 October, the price retreated with the formation of a bullish engulfing candle. This week, the pressure from buyers is currently growing.
The fast EMA has crossed the slow EMA higher, pushing the coin’s price above the dynamic support levels. If buyers’ momentum clears the $0.094 resistance level, TRON’s price could rise to the $0.097 and $0.104 levels. In the event that sellers remain interested and the price of TRON falls below the $0.090 barrier, the support levels of $0.085 and $0.082 can be broken.
TRX/USD Medium-term Trend: Bullish
On the 4-hour chart for TRON, the price trend is bullish. When TRON tested the $0.090 resistance level, the bulls’ momentum faded and they were unable to break through. It oscillates around the level for a week. More pressure from the bulls breaks up the resistance level just mentioned, and $0.094 is being put to the test at the moment.
Right now, TRON is trading above the 9- and 21-period exponential moving averages. At level 64, the period 14 signal line of the relative strength index is pointing upward, indicating a buy.
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