logo

Tron price prediction: Fall to $0.026 before a breakout, analyst

Tron price prediction Fall to before a breakout analyst

TL;DR Breakdown

  • Trong price prediction expects a fall to $0.026.
  • Strong resistance lies at the $0.0330 mark at the time of writing.
  • Strong support lies at the $0.0285 mark at the time of writing.

The Tron price prediction by Kai Bruh suggests that the cryptocurrency will see a brief price correction towards $0.026 before it observed an upward breakout to $0.04. The cryptocurrency traded near $0.03 on the 8th of January.

Tron price chart 1 - 8 January
Tron price prediction chart by Trading View

The TRXUSD trading pair was observed at the $0.029 mark at the time of writing. The cryptocurrency’s price had risen alongside all the other crypto assets during Bitcoin’s price surge on the 7th of January. On the 8th of January, the crypto asset observed price fluctuations near $0.0305 after rising across the $0.031 mark before 12:00 GMT. The highest price that the cryptocurrency saw on the 8th of January was the $0.031 mark, whereas the lowest it dropped to was the $0.028 level.

The technicals show a buy signal for the TRXUSD pair. Sixteen out of the twenty-eight oscillators lean towards a buying position for the trading pair, while 9 stand neutral and 3 stand at a selling point. The oscillators are mostly neutral, with 2 for a buying position and 1 for a selling position. The moving averages indicate a strong buy signal for the trading pair as fourteen out of seventeen indicators are for a buying position, 1 is neutral and the remaining 2 depict a selling signal.

The TRX price has reached the midline of the Bollinger bands, and it might cross below this line soon. This means that the next short-entry target will be the $0.027 mark on the 4h time frame, which is where the lower Bollinger band lies.

Tron price prediction: What’s next?

The Trading View analyst Kai Bruh believes that the cryptocurrency might soon bounce towards the upside and reach the $0.04 mark next. Per this Tron price prediction, the cryptocurrency will first see a price correction first, leading the coin to the $0.026 mark.

Tron price chart 2 - 8 January
Tron price prediction chart by Kai Bruh

An ascending slope from March 2020 has supported the TRX price. In September last year, the price observed a major surge and moved across the $0.04 resistance and shortly returned to this long trend line. The price is currently testing a falling trend line, and it is expected to fall bearish towards the $0.026 level before it can experience a bounce at the bottom of the pattern. This trading pair’s higher resistances are expected to test at $0.032, $0.033, and $0.040.

Trading View analyst Margin Buu’s Tron price prediction suggests that the cryptocurrency is primed for a long position. The analyst highlighted a huge up-channel for the crypto asset, and they expect the price to rise across the $0.05 mark by the end of 2021. Per the analyst, Tron is an unstoppable asset with an increasing number of decentralized applications and projects, which will only allow it to grow on its price charts in the long term.

The analyst Mahdi Hosein Pou believes that the TRXUSD pair is approaching a key falling resistance and that the asset will take one of the two paths that they’ve shown in their chart. Both trajectories in their idea suggest a bullish long-term for the trading pair, and the price is expected to reach the $0.045 level while trading in an ascending channel.

Arnold Kirimi

Arnold Kirimi

Arnold is a crypto and blockchain enthusiast. A communications expert with interest in hard-hitting journalism, he is always on the hunt for the latest events in the cryptocurrency world. He is inspired by what Bill Gates said, “Bitcoin is a technological tour de force.”

Related News

Hot Stories

Litecoin price analysis: Bullish spell launches LTC above $61.85
Renbridge Used by Cybercriminals to Launder $540M by Chain Hopping
Aave price analysis: AAVE/USD shows bullish strength as price rises to $109.99
Hotbit halts trading activities on its platform
ChainLink price analysis: LINK/USD maintains tremendous bullish movement at $9.03

Follow Us

Industry News

Renbridge Used by Cybercriminals to Launder $540M by Chain Hopping
Hotbit halts trading activities on its platform
Coinbase records $1 billion loss in Q2
Curve Finance hacked and $570K stolen
What happens to $ETH after the merge on 19 September?