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TRON price analysis 15 August 2019; failing support levels all day

TRON price analysis 27 May 2019

TRON has been failing to maintain support levels for over 24 hours now, the coin is down somewhere around 18% since its last moments above the $0.02 psychological levels. In its current state, without the support of the CEO’s bullish tweets, TRX is poised to continue its downfall in the near future.

Today’s TRON price analysis will try to focus on the most realistic resistance and support levels of the coin and the only information that could somehow support its recovery from a bearish trend.

TRON price analysis

TRX chart by Trading View

TRON price analysis: Resistance and Support

As already mentioned at the beginning of this article, TRON has been failing to maintain support levels for more than 24 hours now, only experiencing a slight uptick when BTC started its retest at $10,000.

As of right now the latest support that was broken was at $0.0176, therefore, introducing a new one down at $0.071 due to the coin being stuck at $0.0172 right now.

A slight uptick and a retest of the $0.0175 is to be expected, but if Bitcoin fails the $10,000 resistance TRON has the chance to drop down as low as $0.0155 by the end of weekend bears.

Giorgi Mikhelidze

Giorgi Mikhelidze

Georgian-born blockchain enthusiast Giorgi leverages his software development background for on point market commentary and analysis. A brief stint with Finance Makers and he's now covering crypto news for high authority websites with the tip learned from past experience, "Whenever you see people talking about the weakness of your idea, don't see it as criticism."

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