Sellers are taken over TRON’s market
TRON Price Analysis – 17 January
If the purchasing trend holds over the resistance level at $0.110, the price of TRON may rise above the $0.114 and $0.117 barriers. If selling continues, TRON may be able to surpass the support levels of $0.105 and $0.101 if it falls below the $0.108 mark.
Key Levels:
Resistance levels: $0.110, $0.114, $117
Support levels: $0.108, $0.105, $0.101
TRX/USD Long-term Trend: Bullish
The movement of TRON’s daily chart is erratic. The price of the cryptocurrency has been bouncing between $0.108 and $0.101 since three weeks ago. The buyers were unable to break through the $0.110 resistance level. Buyers tried last week, but sellers gained the power to break down $110 level. The $0.108 support level was retested. Today, buyers are gaining momentum to push the price towards the previous high.
The fact that the price is above the Hull Suite indicator suggests a bullish market. The QQE MOD indicator, which is above zero, is an indication of bullish trend. If the purchasing trend holds over the resistance level at $0.110, the price of TRON may rise above the $0.114 and $0.117 barriers. If selling continues, TRON may be able to surpass the support levels of $0.105 and $0.101 if it falls below the $0.108 mark.
TRX/USD Medium-term Trend: Bearish
The 4-hour chart indicates that TRON is bearish. The bulls’ exultation has subsided over the past two weeks as TRON has been unable to break over the $0.117 barrier level. For over a week, it reversed at the same rate, breaking down the support levels of $0.110 and $0.108 barrier levels. As the price got closer to $0.105 and passed the previously indicated barrier, sellers persisted. Bears might keep pushing, as the price is trying to break below the $0.108 line.
Currently, TRON is less expensive than the Hull Suite. On the other hand, the QQE MOD is below zero, and the red color indicates a sell.
You can purchase crypto coins here: Buy LBLOCK
- Broker
- Min Deposit
- Score
- Visit Broker
- Award-winning Cryptocurrency trading platform
- $100 minimum deposit,
- FCA & Cysec regulated
- 20% welcome bonus of upto $10,000
- Minimum deposit $100
- Verify your account before the bonus is credited
- Over 100 different financial products
- Invest from as little as $10
- Same-day withdrawal is possible
- Fund Moneta Markets account with a minimum of $250
- Opt in using the form to claim your 50% deposit bonus
Learn to Trade
Never Miss A Trade Again
Signal Notification
Real-time signal notifications whenever a signal is opened, closes or Updated
Get Alerts
Immediate alerts to your email and mobile phone.
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.