At the beginning of the previous week, we had the Tron price trying to keep up it together with the 0.0170 dollars mark.
Tron (TRX) had the 0.0165 dollars support that was broken, and the cryptocurrency ended below the 0.0162 dollars support, breaking clearly below the fifty-five (55) simple moving average (SMA). A rebound to 0.0162 dollars occurred, and TRX was propelled back to 0.0170 dollars after which it kept trading at 0.0180 dollars.
Tron (TRX) is still suffering from the previous week’s trauma. Its price is afflicted with severe bearish symptoms that have been keeping TRX below the 0.0184 dollars resistance mark. TRX was propelled by the bulls to $0.0183 to break the nearest resistance mark, but they were unsuccessful. After which 0.0180 dollars was revisited.
The twenty-three (23.6%) percent Fibonacci level mark in the range $0.0162 low to $0.0184 high. While above that the fifty percent (50%) Fibonacci retracement level between $0.0162 low to $0.184 high has been at $0.0173, which also happens to be the nearest support mark.
Tron TRX price chart by Trading View
Where is Tron TRX price headed?
At the time of writing this analysis, Ton (TRX) trades in at 0.017479 dollars. The twenty-four (24) hour volume sums up to four hundred and fifty-seven million dollars ($457,540,382). By the looks of things, we see TRX declining as it nears the closest support mark.
If the bears fail to help the 0.0173 dollars support mark fro tumbling lie a house of cards then we’ have to rely on the 0.0170 dollars support. Next up in line is the 0.0165 dollars support- not so eager to be revisited.
The top side resistances lie first at 0.0180 dollars, then at0.0182 dollars and the third mark is located at 0.0184 dollars mark.
Well, $0.0195 seems to be an unlikely place unless the bulls mean business after which TRX will have to face the 0.0200 dollars mark.
The moving average convergence/ divergence (MACD) seems bullish, and the relative strength index (RSI) is at level forty (40)- striving for fifty (50), which is a bullish sight for a bearish graph.
