Follow Us

Tron (TRX) Price Analysis: TRX near buyer’s Defending zone, will price bounce-back or fall down?

Share on facebook
Share on twitter
Share on linkedin

Share

TRON Price Prediction: Bears Overthrow Buyers In Tron Price?
Share on facebook
Share on twitter
Share on linkedin
  • The Tron (TRX) coin got rejected near the crucial round level of $0.090 during an upward move.
  • After 12 days of trading session TRX price again breaks the semi-line of the Bollinger Bands indicator with reference to the daily price chart.
  • Tron coin with bitcoin pair is trading at 0.000002691 satoshis, down a little over 1.7%.

Tron (TRX) pricing has shifted after seeing the May 11 long legged Doji candle. As a result, TRON showed higher momentum, higher highs and lower lows on the daily price chart.

On June 1, the Tron (TRX) token was rejected near the critical $0.090 mark amid an advance. Because TRX coin is in a downtrend, velocity is shifting towards the higher trendline (white).

Thus, the uptrend trendline (white) appears to be an important hedge area for buyers and yet the bulls may try to recover again. Meanwhile, at the time of writing, the Tron (TRX) token was trading at the $0.0799 mark.

According to CMC, during the retracement, the market cap rose above $7.4 billion, down 2.5% over the past 24 hours. Meanwhile, after 12 days of the trading session, TRX price again breaks the halfway line of the Bollinger Bands indicator in terms of the daily price chart.

Along with the downtrend, trading volume fell below $1 billion compared to the previous night. Furthermore, the Tron coin with the bitcoin pair is trading at 0.000002691 satoshis, up a little over 1.7%.

Buyers have a hope near 50 EMA

The 50 EMA appears to be an important support area for buyers during the retracement phase on the daily price chart. Meanwhile, the RSI indicator again remains near the half-line (50 points) but still the RSI peak is yet to break this zone.

Conclusion

Traders should wait for the next move they can take action after today’s price close of Tron (TRX) coin. There is still a hedge area with buyers which bears the bullish trend.

support level – $0.074 and $0.060 

Resistance level – $0.090 and $0.10

Disclaimer 

The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss

ALSO READ: Here’s Why Former BitMEX CEO Arthur Hayes Thinks Thinks Ethereum Can Still Reach $10,000 by 2022 End

Leave a Reply

Your email address will not be published. Required fields are marked *

Download our App for getting faster updates at your fingertips.

en_badge_web_generic.b07819ff-300x116-1

We Recommend

Top Rated Cryptocurrency Exchange

-
00:00
00:00
Update Required Flash plugin
-
00:00
00:00