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TRON Price Analysis – 27 December
If the purchasing trend sustains over the resistance level at $0.104, the price of TRON can break through the $0.108 and $0.118 barriers. Should selling continue, TRON might be able to cross the $0.097 and $0.094 support levels if it falls below $0.101.
Key Levels:
Resistance levels: $0.104, $0.108, $0.112
Support levels: $0.101, $0.097, $0.094
TRX/USD Long-term Trend: Bearish
TRON is experiencing a bearish trend on the daily chart. The currency increased to a resistance level of $0.108 last week. This situation existed for longer than two weeks. On December 25, sellers gained the upper hand, breaking through the $0.104 support level and sending the price down near the $0.101 level. The support level at $0.101 is currently where the price is retreating. TRON has a propensity to continue declining.
Given that the fast EMA has crossed below the slow EMA, the coin’s price is heading below both EMAs, indicating a bearish market. If the purchasing trend sustains over the resistance level at $0.104, the price of TRON can break through the $0.108 and $0.118 barriers. Should selling continue, TRON might be able to cross the $0.097 and $0.094 support levels if it falls below $0.101.
TRX/USD Medium-term Trend: Bearish
For TRON, the 4-hour chart shows a negative trend. When TRON tried and failed to break through the $0.108 barrier, the bulls’ enthusiasm faded. It reversed at the same pace for a week. As the price approached $0.104, sellers maintained their strength and broke down the just-mentioned level. Bears continue to exert pressure and the price reduces to $0.101 level. Right now, the price is heading back north. At the moment, the resistance level is $0.104.
As of right now, nine crossing 21-day periods downside, the price of TRON is lower than the exponential moving averages. The period 14 signal line of the relative strength index is rising at level 44, suggesting a possible upward trend.
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