Buyers may continue to dominate the Tron market
TRON Price Analysis – 15 February
Tron may rise to the $0.070 resistance level before it tests the $0.072 level when buyers exert more pressure and the daily candle crosses over and closes over the $0.069 threshold. If the bears’ momentum pushes through the $0.066 support level, the price of Tron could fall to $0.064 and $0.061 levels.
Key Levels:
Resistance levels: $0.069, $0.070, $0.072
Support levels: $0.066, $0.064, $0.061
TRX/USD Long-term Trend: Bullish
On the daily chart, Tron is in green mode. Bullish momentum caused the price to surpass the previous resistance levels of $0.061, $0.064 and $0.066 after the price rebounded off the $0.052 support level. Yesterday, the bulls felt confident enough to try to break through the $0.066 resistance level. Bulls picked up steam and broke through the mentioned level and currently, the price is trying to break up $0.066 resistance level.
Ahead of both the slow and rapid moving averages, Tron is now trading. The price may rise to the $0.070 resistance level before it tests the $0.072 level when buyers exert more pressure and the daily candle crosses over and closes over the $0.069 threshold. If the bears’ momentum pushes through the $0.066 support level, the price of Tron could fall to $0.064 and $0.061 levels.
TRX/USD Medium-term Trend: Bullish
On the 4-hour chart, Tron is moving higher. The market was dominated by buyers at the start of the week, and the price inclined to the $0.064 level. The buyers’ upward momentum is increasing towards $0.066 resistance level. In their attempt to break over the $0.066 resistance level, buyers had the advantage. Tron’s price is currently firmly pressed against the $0.069 resistance level..
Indicating a positive momentum, Tron is currently trading above both the 9-period and 21-period exponential moving averages. Relative Strength Index period 14 signal line is at 77 levels and pointing up, giving a purchase signal.
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