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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.
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