TRON (TRX/USD) Price: Sellers Exert More Pressure, $0.077 Level Is Broken
Login

TRON (TRX/USD) Price: Sellers Exert More Pressure, $0.077 Level Is Broken

Estimated Reading Time: 2 minutes

Azeez Mustapha

Updated:

Bears’ momentum increases in TRON market

TRONPrice Analysis – 09 August

When the sellers’ momentum surpasses the $0.074 support level, the price of TRON could fall to $0.072 and $0.070 levels. The $0.079 and $0.081 resistance levels might be broken if the price of Crypto increases past the $0.077 barrier level and buyers remain engaged.

Key Levels:

Resistance levels: 0.077, $0.079, $0.081

Support levels: $0.074, $0.072, $0.070

TRX/USD Long-term Trend: Bearish

TRON is bearish on the daily chart. The price was driven to the resistance level of $0.085 by the bullish trend that began on June 20. Bullish momentum waned, and the prior support level was broken. Bearish pressure overcame the initial obstacle of $0.081 to continue. The price started to decline more rapidly as soon as a sizable daily bearish candle developed. The formerly-supporting prices of $0.081, $0.079, and $0.081 now serve as resistance levels. The coin has broken down $0.077 and is currently supported at a level of $0.074.

The coin trades below the dynamic resistance levels when the fast EMA crosses the slow EMA at this time. When the sellers’ momentum surpasses the $0.074 support level, the price of TRON could fall to $0.072 and $0.070 levels. The $0.079 and $0.081 resistance levels might be broken if the price of Crypto increases past the $0.077 barrier level and buyers remain engaged.

TRX/USD Medium-term Trend: Bearish

The movement of TRON is bearish on the 4-hour chart. The $0.070 zone saw the formation of a double bottom, a bullish reversal chart pattern. As the bulls gained strength, the price started to fly higher. The price reached the $0.094 level. Sellers resisted the change, and the price started falling. TRON is currently ranging between $0.077 and $0.074 levels.

TRON is trading below exponential moving averages of 9 and 21 periods. The relative strength index’s period 14 signal line is pointing lower at level 48, providing a sell signal.

You can purchase crypto coins here: Buy LBLOCK

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
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.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News