The latest price analysis of TRON (TRX)
The price of TRON (TRX) has been relatively stable over the past week, trading between $0.075 and $0.078. However, the altcoin remains below the moving average lines, indicating a bearish trend. Bears are in control as long as TRON is trading in the downtrend zone, and if the current support at $0.075 is breached, the price may reach the previous low of $0.070. On the upside, the price is limited by resistance at $0.085.
TRON indicator display
The Relative Strength Index (RSI) for TRON is at 42, suggesting consolidation. The altcoin is predicted to fall further as it is in a bearish trend zone. Doji candlesticks are influencing the price movement. The altcoin is currently trading above the daily stochastic threshold of 60, but bullish momentum has slowed down above the current support.
Key supply and demand zones
- Supply zones: $0.07, $0.08, $0.09
- Demand zones: $0.06, $0.05, $0.04
What is the next direction for TRON?
TRON is currently trading in a range above the $0.075 support. As long as doji candlesticks dominate the price activity, TRON will maintain its horizontal trend. Positive momentum will be regained if TRON rallies above the current support level. However, it’s important to monitor the price closely given the bearish trend and resistance at $0.085.
Hot Take
TRON’s price analysis suggests a bearish trend in the short term. The altcoin’s inability to break through the moving average lines and resistance levels indicates that bears are in control. However, if TRON manages to rally above the current support level, it could regain positive momentum. Crypto readers should closely monitor the price movement and be cautious in their trading decisions.
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