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TRON price analysis 16 August 2019; TRX continues to fall

TRON pic

TRON’s performance has been lackluster for the past couple of days now and it has also failed to follow the Bitcoin surge yesterday. Our yesterday’s prediction of a drop to $0.015 could still be relevant.

Once again, today’s TRON price analysis will be dedicated to determining the support and resistance levels for TRX before the weekend sell-off and even further falls.

TRON price analysis

TRX chart by Trading View

TRON price analysis: Resistance and Support

TRON failed the $0.020 support level long ago and is in no way shape or form ready to retest it anytime soon, therefore we have to go even further to find at least some kind of support and hope that it holds it.

Right now, the most optimal price point is at $0.0160, but it’s absolutely possible for it to go down as low as $0.015 by the end of the weekend selloff.

Naturally, the biggest resistance TRON is going to find will be at $0.020 as bulls will definitely want to retest that level, and should Justin Sun support that trend with a bullish Tweet, TRX could actually pull right through.

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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