Tron’s (TRX/USD) Price Ranging Movement May Continue

Low momentum in Tron market

TRON Price Analysis – 05 April

In case the price breaks through the $0.066 level and buyers get additional momentum, they may push the price up to the $0.069 and $0.070 resistance levels. The price of Tron could drop to $0.061 and $0.058 levels if the sellers’ momentum breaks through the $0.064 support level..

Key Levels:

Resistance levels: $0.066, $0.069, $0.070

Support levels: $0.064, $0.061, $0.058

TRX/USD Long-term Trend: Ranging

Tron is in the ranging movement on the daily chart. More than two weeks, the buyers’ and sellers’ momentum has been low. Last month, when buyers’ pressure was at its peak, the price increased to the $0.072 barrier level. Because the sellers resisted the purchasers, the price increase was halted. The development of a bearish engulfing candle supported the aforementioned situation. On March 10, Tron’s price dropped and tested a support level of $0.055. After a strong bullish engulfing candle developed, it increased. The resistance level of $0.069 has been tested by the price, which has increased. Since the previous week, the price has been ranging between $0.066 and $0.064.

Tron is trading over and around the two EMAs. In case the price breaks through the $0.066 level and buyers get additional momentum, they may push the price up to the $0.069 and $0.070 resistance levels. The price of Tron could drop to $0.061 and $0.058 levels if the sellers’ momentum breaks through the $0.064 support level.

TRX/USD Medium-term Trend: Ranging

Tron is on ranging movement in the 4-hour chart. Three weeks ago, the price dropped to the $0.055 barrier level when sellers were in charge of the market. Due to the lack of bearish momentum, the price was unable to surpass the previous level. Currently, the cost is ranging between $0.066 and $0.64.

Tron is currently hovering over both the 9-period and 21-period exponential moving averages. Relative Strength Index period 14 signal line is at 51 levels pointing up, giving buying signal.

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