Tron price analysis 19 August 2019; Drop not finished yet

TRON has managed to recover ever so slightly after the disaster that was last week. However, it’s quite hard to determine the anomaly that was this weekend, as most of the market was expecting an even more serious dump, but rumors about a global recession seem to have brought thousands of investors to the crypto market in search of a safe haven.

Regardless though, today’s Tron price analysis will focus on the resistance and support levels this altcoin will face in the coming days, and whether or not it can maintain them for future stability. As a hint, we can say that it’s not looking too pretty.

TRON price analysis

TRX chart by Trading View

Tron price analysis: Resistance and Support

At the moment of writing this article, Tron seems to be on its way to break the $0.0185 resistance, but it’s unlikely to be the case this week. The coin is now trading at $0.0180 apiece with strong selling pressure from the bears.

Should TRON somehow manage to pass the $0.0185 resistance, it’s future problems will start at $0.020 and $0.022 respectively. Unfortunately, it’s extremely unlikely that TRX can manage that unless Sun comes out with a massive bullish tweet.

As for supports, we have to keep going lower and lower to find it. Experts suggest that $0.0100 is the most crucial support the coin can find, while $0.009 is a moment of desperation.

Overall, TRX is excessively bearish right now.