TRON (TRX) Maintains Bullish Trend
The value of TRON (TRX) has been on a decline since November 1, dropping from a high of $0.10 to a low of $0.097, with further predictions of falling to $0.093. However, if the altcoin retraces and remains above the moving average lines, its price could continue to rise. Breaking through the $0.10 resistance level could see the market rise to $0.105, but this upward trend will end if the bears break below the moving averages.
TRON Indicator Reading
TRON’s price is currently below the moving average lines on the 4-hour chart, indicating a potential collapse as it trades in the overbought territory of the market.
Key Supply Zones: $0.07, $0.08, $0.09
Key Demand Zones: $0.06, $0.05, $0.04
What’s Next for TRON?
Despite an upward correction on November 4, TRON is expected to fall further to the 1.618 Fibonacci extension level or $0.093 as the correction continues.
On November 4, cryptocurrency analytics specialists reported that TRON reached a high of $0.101 on November 2, surpassing previous highs and showing bullish momentum.
Hot Take: TRON’s Resilient Bullish Trend
Despite recent declines in value, TRON has managed to maintain a bullish trend and is expected to continue its upward correction in the near term, provided it stays above key support levels and breaks through resistance at $0.10.
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