TRON (TRX) Price Analysis: Can TRX Break Through Resistance at $0.144?
The TRON (TRX) price has bounced back from recent declines but faces resistance at $0.144.
Long-term Outlook for TRX Price: Bearish 📉
– TRX failed to break through the $0.144 resistance, signaling a challenge in entering a bull market.
– Positive momentum could lead TRON to test highs at $0.219, but currently, it is trading at $0.110 below the key resistance level.
– Since March 19, 2024, TRX has found support at $0.110 with buyers stepping in.
– The sideways movement between $0.110 and $0.124 indicates a potential trend change once the range is breached.
TRON Indicator Analysis 📊
– TRON’s price remains below moving average lines, but selling pressure above $0.110 is decreasing.
– A bearish crossover is seen with the 21-day SMA falling below the 50-day SMA, though the bearish signal is weakening.
Technical Indicators 📈
– Key supply zones: $0.09, $0.10, $0.11
– Key demand zones: $0.06, $0.05, $0.04
What’s Next for TRON?
– TRON is currently below moving average lines, trading within a narrow range of $0.116 to $0.124.
– The altcoin’s 4-hour chart suggests continued fluctuations in the coming days.
Hot Take: TRON Faces Resistance at $0.144 – Bearish Outlook Ahead?
What do you think the future holds for TRON’s price? Will TRX be able to break through the $0.144 resistance and enter a bull market, or are bearish trends on the horizon?
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