TRON’s Price Analysis: Resistance at $0.13
TRON’s price is currently struggling to break above the resistance level of $0.13. The altcoin has been moving in a narrow range between $0.11 and $0.13 after a recent slide below the support level of $0.11. Despite a rebound from a high of $0.144, TRON has failed to sustain the positive momentum above the $0.148 resistance level.
Resistance Level
- TRON is currently trading at $0.1193.
- The altcoin is waiting for a clear trend to emerge within the range of $0.11 to $0.13.
TRON Indicator Reading
Following the recent price slump, TRON’s price bars have fallen below the moving average lines. The cryptocurrency is oscillating within a restricted range, with doji candlesticks reflecting traders’ uncertainty about the market direction.
Technical Indicators
- Key supply zones: $0.09, $0.10, $0.11
- Key demand zones: $0.06, $0.05, $0.04
Future Direction of TRON
TRON seems to be experiencing bearish exhaustion as it trades within the range of $0.11 to $0.13. The presence of doji candlesticks has kept the price action stagnant. For TRON to move positively, buyers must sustain the price above the moving average lines or breach the $0.13 resistance level.
Hot Take: TRON’s Price Struggles to Break Resistance
In conclusion, TRON’s price is facing resistance at $0.13 as it trades within a narrow range. The cryptocurrency’s performance will depend on the ability of buyers to push the price above key resistance levels. Watch closely for any breakout signals to gauge TRON’s future price movements.
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