TRON is struggling to break up $0.090 resistance level
TRON Price Analysis – 04 October
The price of TRON may increase to $0.094 and $0.097 levels when the buyers’ momentum breaks through the $0.090 resistance level. If the price of TRON drops below the $0.085 barrier level and sellers continue to be interested, the support levels of $0.082 and $0.081 may be breached.
Key Levels:
Resistance levels: $0.090, $0.094, $0.097
Support levels: 0.085, $0.082, $0.081
TRX/USD Long-term Trend: Bullish
On the daily chart, TRON is now trading in the green. As it seeks to move above the $0.090 level, buyers are currently in charge of the market. Price breached $0.081 barrier level on August 18 due to an upward trend that began on that day. As the bullish momentum grew stronger, the previous level of resistance was broken. Bullish pressure persisted as the $0.082 barrier held. On September 12, a large daily bullish candle formed and the resistance level of $0.090 is tested. Today, bulls’ momentum is currently diminishing.
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The fast EMA has crossed the slow EMA higher at this time, pushing the coin’s price above the dynamic resistance levels. The price of TRON may increase to $0.094 and $0.097 levels when the buyers’ momentum breaks through the $0.090 resistance level. If the price of TRON drops below the $0.085 barrier level and sellers continue to be interested, the support levels of $0.082 and $0.081 may be breached.
TRX/USD Medium-term Trend: Bullish
The TRON price trend is bullish on the 4-hour chart. An inverted head and shoulder chart pattern develop at the matching supports of $0.070. This bullish reversal trend has its beginning at these levels. As the bulls gather momentum, the price is rising. The price is now heading higher after overcoming the $0.082 resistance level. TRON is struggling to surpass the $0.090 threshold.
TRON is currently trading above both the exponential moving averages of 9 and 21 periods. The relative strength index’s period 14 signal line is pointing up at level 52, signaling a buy.
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