The Price of TRON (TRX) Drops Below Moving Average Lines
The price of TRON (TRX) has slipped below the moving average lines but remains above the 50-day SMA or support at $0.129. The cryptocurrency is currently above the 50-day SMA but below the 21-day SMA, indicating that it is stuck between the moving average lines. If the bears break the support of the 50-day SMA, TRON will fall further and reach a low above $0.12. However, if the 50-day SMA support holds, TRON will continue to move between the moving average lines for several days.
If the bulls break the 21-day SMA, TRON will regain its upside momentum and test its recent high of $0.144. Currently, TRX/USD is worth $0.13.
TRON Indicator Reading
After a recent downturn, the price bars of TRON have shifted between the moving average lines. The bears are aiming to break the 50-day SMA, which would result in a further fall in price. On the 4-hour chart, the moving average lines are sloping downwards, indicating a downtrend.
Technical Indicators
- Important supply zones: $0.09, $0.10, $0.11
- Important demand zones: $0.06, $0.05, $0.04
What’s Next for TRON?
TRON is currently bearish after reaching resistance at $0.144. Since February 29, the cryptocurrency has been trading between the moving average lines. If the current support holds, TRON will start moving within a range and fluctuate between $0.13 and $0.14 price levels.
Hot Take: TRON’s Price Drops Below Moving Average Lines
The price of TRON (TRX) has fallen below the moving average lines, indicating a bearish trend. TRON is currently stuck between the 50-day SMA and the 21-day SMA, but if the bears break the support of the 50-day SMA, the cryptocurrency will continue to fall. On the other hand, if the support holds, TRON will move within a range for some time. The next direction for TRON depends on whether the bulls can break the 21-day SMA and regain upside momentum. Technical indicators suggest a downtrend for TRON, with important supply zones at $0.09, $0.10, and $0.11, and important demand zones at $0.06, $0.05, and $0.04. Overall, TRON’s future performance will be determined by how it interacts with these key levels of support and resistance.
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