Ethereum
$ 1,187.01 2.79%
Solana
$ 38.49 4.00%
Dogecoin
$ 0.072046 1.75%
ApeCoin
$ 4.86 1.78%
Bitcoin
$ 20,711.00 2.51%
BNB
$ 233.21 1.85%

TRON price analysis: Tron under pressure as TRX/USD descends to $0.12

Tron price analysis Tron under constraint once again as price levels descend to

TL;DR Breakdown

  • TRON price analysis shows the cryptocurrency is undergoing bearish stress.
  • Price has lowered up to $0.12 today.
  • Support level is fixed at $0.1 currently.

The TRON price analysis is going bearish as the trends have undergone an unexpected reversal. The successive bullish streak has been broken today because of the bearish pressure, and the price has undergone a reduction up to $0.118.

This downtrend has been quite surprising for the experts as the market was expecting the price to bounce above $0.121 resistance. Yet, the bears have taken their position on today’s price chart as per the analysis.

TRX/USD 1-day price chart: Green candlestick elongates enough to pierce through $0.11

The 24-hours TRX price chart for TRON price analysis is showing that a bullish activity is taking place today as the price has increased up to $0.12. Although in the past few days, the bears have tried to exert pressure as well which has been successfully overpowered by the bulls.

The bullish momentum has been quite high today, as the Moving Average (MA) value is present way below the current price value i.e. at $0.099. The short-term trending line is also going in the upwards direction, thus confirming the bullish trend.

TRON price analysis: Tron under pressure as TRX/USD descends to $0.12 1
TRX/USD 1-day price chart. Source: TradingView

The bulls have been reigning the entire day, which is why the Bollinger bands average is at 0.096. The upper band is showing the value of $0.114 whereas the lower band is showing $0.077 of value. The Relative Strength Index (RSI) score is on its way to cross the overbought limit and has now reached the 66.50 value.

Tron price analysis: Clash above $0.11 results in bears taking the seat

The 4-hours price chart for TRON price analysis shows TRX progress is going bearish as the price underwent decline today. The bullish trend has been quite strong earlier the day, but it has been hindered by the uprising bearish momentum at present.

The trending line is still going upwards as the bulls have been quite dominant in the early part of the day. Moving on, the moving average (MA) is showing the value of $0.109, while the Bollinger bands are showing the average of $0.106.

TRON price analysis: Tron under pressure as TRX/USD descends to $0.12 2
TRX/USD 4-hours price chart. Source: TradingView

If we talk about the Bollinger bands indicator, then its upper band is present at the $0.121 level and its lower band is present at the $0.091 level. The RSI score is still quite high and is touching the over-bought mark as it is present at 70.13 at the time of writing.

TRON price analysis: Tron under pressure as TRX/USD descends to $0.12 3
TRX/USD technical indicators chart. Source: TradingView

As the general trend observed during the day has been bullish in nature, the technical indicators chart for TRON price analysis is indicating similar results. The summary is showing 16 indicators at the buying position, 10 indicators at the neutral position, and none are present at the selling position.

If we move on towards the Moving Averages indicator, it is giving an encouraging sign for the buyers as well. It is high time for the buyers to approach the market as there are a total of 14 indicators at the buying point, one at the neutral point and once again no indicator is found at the selling point.

The Oscillators are showing a buying signal as well as we can see nine indicators at the neutral spot, two at buying spot, and no indicator at the selling spot.

TRON price analysis conclusion

The given one-day and four-hour TRON price analysis report is indicating that the bears are trying to make a comeback after a continual uprise in price. The momentum has been able to decrease the price slightly as it has now dropped down to the $0.12 level.

There is a possibility that the bears might take over the price charts once again as they did in the previous weeks. The support is still quite strong as it is present at $0.0908 at the present moment.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
joel

joel

Joel is a Blockchain enthusiast who has been active in the blockchain sector since 2016. He enjoys talking about blockchain and its implications for the future of humanity.He loves content and creating features on cryptocurrency.

Related News

Hot Stories

Cryptopolitan to host Vidma in upcoming Web3 Masterminds session
Bitcoin price analysis: BTC retests $21,500, swift drop to $20,000 incoming?
Eminem promotes a BAYC video alongside Snoop Dogg
Ossification of Bitcoin
Bitcoin, Binance Coin, Filecoin, and Helium Daily Price Analysis – 27 June Morning Price Prediction

Follow Us

Industry News

Nexo reacts to new Emblezzlement allegations and threatens legal action
Bear market 2022 hits crypto to its worst in historic records
Anonymous plans to bring Do Kwon to justice
Mastercard survey: 50% of Latin Americans use crypto
Margin calls and bot liquidations add chaos to crypto as its market cap hits $964b