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Tron price falls after news highs: TRX fails to maintain

TRON

Tron price was headed for new highs after breaking through the resistance it has been facing for the past couple of days but to no avail, the cryptocurrency fell drastically.

Analysts were claiming that TRON (TRX) will see a new high since it has managed to break through the resistance however the situation turned before the day could end and TRX failed to maintain the lead it gain.

tron trx price chart 15 october 2019Tron TRX price chart by Trading View

As the TRON (TRX) breaks through the major resistance and shifts the trend movement, the question arises, whether the latest bullish trend would return?

The value of TRX/BTC pair breaks through the Senkou, which is the first lead line and then it enters the Ichimoku Cloud on the daily chart in one year for the first time.

The entry of the cloud is the sign of the trend reversal and is specifically considered to be a bullish indicator. Though, more bullish signs can be identified in local timeframes.

However, what seemed to be a bullish run that would go for a long while Tron price line stumbled very soon.

Tron 1

Tron TRX price chart by Trading View

Tron price against predictions: previous short-term

Tron price was likely to maintain the bullish run since the movement was primed after a whole year but the breakthrough just wasn’t enough to keep the cryptocurrency afloat.

Tron 4 hr

Tron TRX price chart by Trading View

The Tenkan and Kaijun cross is a bullish trend-reversal sign which is quite common. In the short-term timeframe Kijun, the baseline was likely to act as support and the exponential value for the price, however, the Tron price movement went sideways.

It is advised to keep an eye on the price movement, as, the TRX/BTC pair is highly volatile, so a change of movement can happen at any time.

Saad B. Murtaza

Saad B. Murtaza

Journalist, Writer, Editor, Researcher, and Strategist with over 10 years of experience in the digital, print and public relations industries, Saad has been working with the mantra, Creativity, Quality and Punctuality. In his waning years promises to build a self-sustaining institute that provides free education. Carrying a diverse portfolio he has studied and written on topics related to cyber crimes, scams, blockchain, and cryptocurrencies.

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