Buyers’ momentum may increase in Tron market
TRON Price Analysis – 26 April
The $0.069 and $0.070 resistance levels may be reached if the price moves past the $0.066 resistance level and buyers continue to build momentum. If the sellers’ momentum pushes through the $0.064 support level, the price of Tron could fall to $0.061 and $0.058 levels.
Key Levels:
Resistance levels: $0.066, $0.069, $0.070
Support levels: $0.064, $0.061, $0.058
TRX/USD Long-term Trend: Ranging
On the daily chart, Tron is in a ranging movement. Last two weeks, the cryptocurrency had a downward trend. At the $0.61 support level, bulls and bears were in conflict. The value dropped to $0.064 level. Prior to last week, there was a weakening of the impetus of both buyers and sellers. When buyer pressure was at its strongest last month, the price rose to the $0.072 barrier level. The price increase was resisted by the vendors, which caused a stop. The subsequent appearance of a bearish engulfing candle provided evidence of the bearish swing. Tron is currently converging between $0.066 and $0.064.
The coin is trading near the dynamic resistance levels as the two EMAs converge. The $0.069 and $0.070 resistance levels may be reached if the price moves past the $0.066 resistance level and buyers continue to build momentum. If the sellers’ momentum pushes through the $0.064 support level, the price of Tron could fall to $0.061 and $0.058 levels.
TRX/USD Medium-term Trend: Ranging
Tron is on a ranging movement in the 4-hour chart. When sellers were in possession of the market a few weeks ago, the price decreased to $0.055. The price was unable to rise above the prior level since there was no bullish momentum. The result of the scenario was a value swing between $0.066 and $0.64. Today, prices continue a ranging movement.
The exponential moving averages of 9 and 21 periods are currently being crossed by Tron. The period 14 signal line of the relative strength index is heading upward at level 61 and is giving a buy signal.
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