Tron’s Price Recovery Slows Down; Bears Persist

  • Tron trades on a mixed note; price rebound has been halted at present
  • TRX coin seems to have a support level at $0.013
  • The coin has noted a decline of 2.92% over a day; TRX faces market pressure
  • Technical indicators give negative signs largely; shows no sign of volatility

Tron (TRX) price saw a notable price drop yesterday, after which, it has initiated a rebound. However, the rebound has failed to maintain an uptrend, and the coin is currently consolidating near the 23.60% Fib level.

Tron Price Prediction

TRX coin opened yesterday at $0.0142, and it formed a low swing in the first half of the day. The coin increased slightly at $0.01436 to start a steep fall. The coin saw a fall by 2.92% and bottomed at $0.0139.

Tron’s Price Recovery Slows Down; Bears Persist

As it found a support level here, Tron price rebounded and had a few closes above the 50% Fib level. Today, the coin has resumed its rebound while crossing the 61.80% Fib level. Facing a rejection above it, TRX price has corrected down below the 38.20% Fib level. Tron price is trading at $0.0140 at 06:51:18 UTC.

Tron News
TRX Chart By TradingView

Technical indicators look negative except for the SMA lines. Recently, the lines have traced a golden cross, after which the short-term SMA line has climbed above the long one.

MACD is in the bearish zone with its MACD line on the downside, noting a bearish price move. RSI is at 42, showing no extremities at the moment. The TRX coin, notably, is trading under selling pressure.

Based on TRX predictions, TRON is likely to see resistance levels at $0.01436, $0.01463, and $0.01476, while its support levels stand at $0.01396, $0.01383, and $0.01356.

Mehak Punjabi

Mehak Punjabi is a post graduate in MBA with specialization in Finance and has joined CryptonewsZ with a skill building view in the world of cryptocurrency and blockchain. She is dynamic and a quick learner with a hold on financial analysis.

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