Tron’s (TRX/USD) Price Is Targeting $0.074 Level
Login

Tron’s (TRX/USD) Price Is Targeting $0.074 Level

Estimated Reading Time: 2 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:

Sellers’ pressure increases in TRON market

TRON Price Analysis – 16 August

The price of TRON may drop to $0.072 and $0.070 levels when the sellers’ momentum exceeds the $0.074 support level. If the price of Crypto increases past the $0.077 barrier level and buyers continue interested, the $0.079 and $0.081 resistance 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: Bearish

TRON is bearish on the daily chart. The positive trend that started on June 20 propelled the price to the $0.085 resistance level. The last support level was shattered as the bullish impetus weakened. 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. The currency lost $0.077 and is now being supported at a level of $0.074.

When the fast EMA crosses the slow EMA downside, the coin trades below the dynamic resistance levels. The price of TRON may drop to $0.072 and $0.070 levels when the sellers’ momentum exceeds the $0.074 support level. If the price of Crypto increases past the $0.077 barrier level and buyers continue interested, the $0.079 and $0.081 resistance levels might be broken.

 

TRX/USD Medium-term Trend: Bearish

The movement of TRON is bearish on the 4-hour chart. A double top chart pattern formed, a bearish reversal movement commences at the $0.085 area. TRON began to fall as the bears became more powerful. The cost decreased to $0.077 per unit. As a result of the sellers’ resistance, the price is declining. The current price of TRON is between $0.077 and $0.074.

TRON is trading below exponential moving averages of 9 and 21 periods. The relative strength index’s period 14 signal line is pointing lower at level 42, providing a sell signal.

You can purchase crypto coins here: Buy LBLOCK

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • 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
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
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.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News