Price Analysis

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.

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.

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.

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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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