Just like we’ve predicted yesterday, the Tron downtrend continues throughout the week with very little chance of ever regaining momentum in the remainder of August 2019.
Today’s Tron price analysis will once again try to distinguish some of the most important resistance and support levels for the coin and see if there is an entry point below the current $0.0175 support level that could somehow introduce a new bullish trend.
Tron price analysis: Resistance and Support
First of all, we have to start off with support levels, considering how hard it will be for Tron to test the resistance it currently has.
The most important support right now lies at $0.0175 which will most likely fail to hold as Bitcoin starts its new retest momentum of the $11,000 today.
When it comes to further support, Tron investors could expect it at $0.0150 and $0.010 respectively. Should any of them fail. It’s likely that we’ll get a TRX worth less than a cent.
As for the resistance, many analysists are saying that it’s redundant to even mention them. But bulls could start targeting $0.0179 and $0.0183 as a bastion of hope.
Overall, Tron remains in the bearish zone with very little to survive.